The Go Eco Group (LIBE) Forms Subsidiary BitWhisper, LLC for Blockchain TechnolGlobeNewswire•January 24, 2018
The Guard Lite: NEWS: $LIBE extra dd links
CHESTER, N.Y., Jan. 24, 2018 (GLOBE NEWSWIRE) -- The Go Eco Group Inc. (OTC PINK:LIBE) is pleased to announce that it has formed BitWhisper, LLC, a wholly-owned subsidiary of The Go Eco Group, Inc. dedicated to further developing and monetizing its proprietary blockchain technology.
BitWhisper, LLC is a technology Company based in the United States. Their primary focus will be to allow for the transfer of video, pictures, or files on the strongest encryption method possible.
"We believe that blockchain technology has the potential to disrupt the current file storage market. Our implementation of this technology could change the very way that file storage is done,” stated BitWhisper Chief Technical Officer Daniel Jaros. "BitWhisper looks forward to be the pioneer in exploring the applications of blockchain-based technologies in the file storage space.”
Data Parity Tracking
Distributed ledger technology allows us to constantly track the location of a user’s stored data as well as a running total of the number of times that file has been copied for redundancy sake. This allows for BitWhisper to ensure that our end users are fully benefiting from our distributed storage solution without worry that a specific node has disappeared.
As the blockchain works as an un-corruptible ledger, it also allows for BitWhisper to ensure that files uploaded by the end user aren't being bundled with malware by the miners. When a file is uploaded via the BitWhisper client, the client compresses the selected file with 2048-bit encryption, after the compression process completes the total size of the object as well as the upload data is added to the ledger. When the end user requests to download a copy of the data, the block will challenge all available miners to ensure that the file retrieved is the same file uploaded. Due to the nature of the ledger, the block will check that the requested file matches the file to the letter, including the total file size, creation time, and other identifying factors.
Smart Data Redundancy
Use of the blockchain allows for the development of smart data redundancy protocols that automatically execute when certain parameters are met. For example, the block can automatically detect when a miner has removed a user’s stored data from its storage array and upon confirmation that data was removed and reopen that job for new miners to bid on. This kind of contract allows us to ensure that the user's data is always being backed up the specified number of times.
The smart contract has the potential to add substantial efficiency and next level data parity to our p2p storage solution by ensuring that customer data is always being properly stored for later retrieval.
Should a user decide to pull their miner from the node, the smart contract would ensure that that user's place is filled by a new miner.
As BitWhisper utilizes the HDD and internet bandwidth of a mining rig as opposed to the CPU or GPU, Whisper Coin miners can supplement their current coin earnings without negatively impacting the performance of their miners. Because of this low hardware overheard we expect a large number of mining farms to begin farming Whisper Coin once our ICO goes live. We believe that supplementary mining will become a critical component when designing future mining farms as the difficulty of mining certain cryptocurrencies continues to increase.
“We realize there’s a lot of recent blockchain technologies out there, along with cryptocurrencies,“ stated Brian Conway, CEO of LIBE “We’d like to ensure our investors that we have had third party verification of our technology. We will continue to add additional verifications as we introduce it to larger companies in the upcoming weeks. With this new tech in our stable of products, I believe we can soon address our remaining debt and grow outward and upward.”
About The Go Eco Group Inc.
The Go Eco Group Inc. is a diversified energy services holding company delivering conventional as well as non-conventional energy solutions throughout North America. For its customers, Liberated is an energy products and services company reducing the everyday cost of energy to its clients. For its shareholders, Liberated operates and acquires a diverse array of energy products and service companies with proven revenues and operations. Its mission is to be the best small cap energy services company of its kind in North America.
Company name: Liberated Energy, Inc.
Company website: http://www.liberatedenergyinc.com
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THE GO ECO GROUP (OTC: LIBE) reported ZERO REVENUE in FY2016 and 1Q/17, $88K in cash and $927K of convertible notes at the end of 1Q/17.
On Feb 17, 2017, THE GO ECO GROUP (OTC: LIBE) filed the following Form 8-K/A
In previous Form 8-Ks and amendments thereto filed with the SEC on September 21, 2016, October 17, 2016, and November 17, 2016, we announced the following:
On September 14, 2016, we entered into a Stock Exchange Agreement (the "Agreement") with Ron Knori ("Knori") the owner of EcoCab Portland, LLC, an Oregon Limited Liability Company ("EcoCab"); EcoCab; and, Brian Conway ("Conway"), wherein we agreed to acquire from Knori 100% of the ownership interest of EcoCab in consideration of issuing Knori 25,553,000 restricted shares of our common stock. Further, as set forth in the Agreement and as further consideration for the acquisition of EcoCab, Conway, our president, agreed to transfer to Knori, 10,000,000 shares of our Series A Preferred Stock which Conway owns and which constitute all of the issued and outstanding shares of our Series A Preferred Stock. Thereafter, EcoCab will be our wholly owned subsidiary corporation. Knori and others selected by Knori will replace Conway and others as directors and officers. Conway will continue to own 11% of our total outstanding shares and his interest will be non-dilutive under certain circumstances. The Agreement is subject to the condition that all of our liabilities will be paid and we shall have executed an agreement with third parties for the ingestion of $200,000. Closing must take place on or before October 31, 2016.
On October 11, 2016, we executed an Amended and Restated Stock Exchange Agreement (the "Amended Agreement") which revised the Agreement by reducing the number of shares to be received by Knori from 25,533,000 to the following: (1) at the first closing, we will issue Knori a number of shares equal to 20% of our total outstanding shares of common stock; (2) if certain conditions are met, at a second closing, we will issue Knori shares which will vest Knori with 30% of our total outstanding shares of common stock; and, (3) if certain conditions are met, we will, at a third closing issue Knori additional shares of common stock to be agreed upon by the parties. If we cannot agree upon the number of shares to be issued, the matter will be submitted to binding arbitration. Also, subject to the satisfaction of certain terms and conditions, we will issue Knori a number of shares of preferred stock. The Amended Agreement is subject to the ingestion of $400,000.
Also, on October 11, 2016, we executed Addendum #1 to the Amended Agreement ("Addendum") wherein Knori agreed to assume liability for all liabilities not identified on Exhibit A and B to the Addendum.
On November 1, 2016, Ron Knori assigned, transferred and conveyed to us all of the membership interests of EcoCab Portland, LLC, an Oregon Limited Liability Company ("EcoCab"). EcoCab is now a wholly owned subsidiary of Liberated Energy, Inc. Concurrently therewith we issued Mr. Knori was issued 360,000 restricted shares of our common stock as partial performance of the terms and conditions of the Amended Agreement and Addendum aforesaid.
On September 7, 2016, we issued a promissory note to Carebourn Capital, L.P. in consideration of a loan to us in the amount of $197,363.70 for the payment of certain outstanding liabilities. The foregoing promissory note contains provisions that allow Carebourn to convert the debt into shares or our common stock.
On September 16, 2016, we issued a promissory note to Carebourn Capital, L.P. in consideration of a loan to us in the amount of $25,000.00 for the payment of certain outstanding liabilities. The foregoing promissory note contains provisions that allow Carebourn to convert the debt into shares or our common stock.
The transactions as described in the foregoing Form 8-Ks and amendments thereto have not been completed as of the date of this report for the reason that Knori has failed to perform certain acts which he contracted to do, has failed to complete the terms of the agreements, and certain statements made by Knori in the agreements aforesaid have been found to be materially false.
We are endeavoring to resolve these issues with Knori, however there is no assurance that the matters will be resolved and as a result thereof we may terminate the foregoing agreements with Knori and sue him for actual and punitive damages as provided for by law.
ITEM 8.01 OTHER EVENTS.
It has come to our attention that Ronald Knori ("Knori") the person described in Item 1 above continues to represent to the world that he is an agent for Go Eco Group, formerly Liberated Energy, Inc. and Eco Cab Portland, LLC and has authority to speak for and bind the aforesaid entities. This is to serve as notice to the world, that Ron Knori is not an agent for Go Eco Group, formerly Liberated Energy, Inc. or Eco Cab Portland, LLC. and he does not have any authority to contract for, speak for or bind Go Eco Group, formerly Liberated Energy, Inc. or Eco Cab Portland, LLC. Anyone who relies on Knori's statements relative to Go Eco Group, formerly Liberated Energy, Inc. or Eco Cab Portland, LLC. does so at his own risk and Go Eco Group, formerly Liberated Energy, Inc. or Eco Cab Portland, LLC will not be bound by Knori's statements.
Ecocab Portland posted the following on its Facebook page on February 28, 2017