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Wednesday, 8 August 2018

Eloncity | A Decentralized Power Transformer Ecosystem

Eloncity ICO Review, Blockchain, CryptocurrencyEloncity is a decentralized ecosystem which transforms power infrastructure to numerous self-sufficient micro-grids and energy storage systems for producing and storing renewable energy. It focuses to produce and deliver uninterrupted, economical and clean energy to everyone.  
The current system of the centralized grid has numerous problems which are affecting the environment, health and lives of the people. It is also costly and hard to detect the problem in case of a breakdown. It is the need of the time to develop a new energy production system which has the capacity to meet the challenges faced after natural disasters, climate change and population growth. The vast grids have a lot of load to provide electricity to small and large units, but the aging design is also incapable to provide reliable, affordable and secure energy. We will discuss below how Eloncity caters to these challenges.

Decentralized energy distribution platform

As mentioned above, this ecosystem uses billions of micro-grids for energy production which also connect the community through its platform where everyone can track the source of energy generation. The stakeholders can audit the key aspects related to power production such as auditing the source (i.e. fossil fuels or clean energy). The system gives back to the society by decarburization of the environment by producing renewable energy. 
Through this blockchain, the participants will be able to share the resources required to produce energy and promote a collaboration among market players for the adoption of renewable energy sources.  

Storage of harvested clean energy

The platform is facilitating investments to arrange Battery Energy Storage System (BESS) where the energy produced through micro-grids will be stored. It also facilitates the community to benefit from the energy-related products and services in order to expand the adoption of this ecosystem. The name of the utility token is ECT which is used to link sources, products and energy consumers to this decentralized system.

Eliminates the need for transporting energy

Eloncity ICO Review, Blockchain, CryptocurrencyThe drawback of the current system is that it requires energy to be transported from remote areas which are not only costly but also vulnerable to breakdowns and losses. The centralized grids have a complex system through which it is hard to transport energy to the consumers. Eloncity produces renewable energy through solar PVs locally which fulfill energy requirements in the vicinity and eliminate the need of transportation of energy from far away areas. 

Community involvement

It is mandatory to engage the community and stakeholders in the process where they could transparently track down the information and data related to finance and energy. For mass adoption, the role of the community members is to be the part of energy production policies. Our planet is getting warmer and it is a social responsibility to provide an alternate system which answers all the environmental needs of the time. 

Offering Performance-based projects

It is a part of the strategy to offer performance-based projects and facilitate the participants by providing loans for producing renewable energy. For this purpose, the team will meet with financial partners, governments and other key participants for establishing loan agreements. These funds will help out community members to complete these projects, produce sufficient energy and sell it to pay back the loans later.

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Eth Address: 0x7E676D85d45acc57A7483F3DE33BF6E87A42b10e

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Item Reviewed: Eloncity | A Decentralized Power Transformer Ecosystem Description: A decentralized ecosystem which transforms power infrastructure to numerous self-sufficient micro-grids and energy storage systems Rating: 5 Reviewed By: Raihan Shakeel
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