QEBR, or the Virtual Medical International, Inc., a group that “develops or acquires promising technology companies from around the world that specialize in data processing, warehousing, encryption, and analysis,” is planning to focus all of its resources on Filecoin mining operations, a press release from the group notes.
As you may know, Filecoin is a “decentralized storage system based in the cloud. Its InterPlanetary File System, or IPFS, requires FIL coins as payment to miners in exchange for storage space.” The project was a massive ICO back in 2017 when it launched, receiving funding from Andreesen Horowitz, Winklevoss Capital, and more.
Speaking on the matter is Jun Liang, the CTO of QEBR, who said:
“The divesture of Sheen Boom and Jihye will allow our team to focus solely on the upcoming worldwide launch of Filecoin. QEBR’s subsidiary, Shenzhen DZD Digital Technology Ltd (“DZD”), has a strong background in blockchain development, data mining, encrypted data acquisition, data processing, and researching of data technology.We strongly believe that Filecoin has the ability to be a leading blockchain-based cryptocurrency and will put all efforts into making QEBR a significant player when the Filecoin mainnet launches soon.”