ELONCITY: Decentralizing the Power Industry
Eloncity decentralizes our power infrastructure into millions of self-sufficient micro grids. It provides energy with constant availability. Eloncity model use open technology to make electricity virtually free so that they can electrify the world with clean energy.
In as much as we are becoming more developed, our modern life depends on the vast electric grids to power everything from light bulbs to mass transit subways.
With challenges of natural disasters, population growth and climate changes, new approaches to energy production and distribution are needed. This is why Eloncity model is needed for its solution which is to employ decentralized renewable energy resources to eradicate barriers to attain safe, healthy, vibrant and equitable energy in future.
The proposed Eloncity model integrates advanced technologies to create a scalable and replicable recipe for unleashing the potential of the community based renewable micro grid to attain a more vibrant regenerative energy future.
Decentralized renewable energy architecture is involved in the Eloncity model in order to enhance high performance Blockchain technology that provides an open secured and distributed ledger for efficient recording of high volume and high speed energy transactions in the community.
There is also a crypto utility token that facilitate local energy exchange and incentivize investment in battery energy storage system for storing harvested renewable energy as well as creating an open global market place that enables communities around to access advanced renewable energy products and services.
Eloncity or Blockchain platform provides an open, secure, and ledger for efficient recording of the transaction of energy services in the community in verifiable manner.
There is also an auditable record for tracking the sources of electricity generation in the community (renewable or fossil fuels).
Eloncity model also enables communities around the world to exchange energy and share resources locally. It provides greater energy service reliability through the decentralized energy architecture inherent design ability to anticipate, absorb, adapt and recover from potentiality disruptive events.
Eloncity is designed to lower community energy expenditures.
Eloncity renewable generation is to eliminate or reduce the risk from the dependence on fossil fuels based backup generators that often lead to disaster and have high risks of fire, explosion etc.
Eloncity and Blockchain
The Eloncity token protocol (ECTP) is an enhanced Etherum Blockchain platform that supports high volume, high speed transaction. It equitably allocates the cost benefits based in where and when the shared resources are used.
Eloncity model includes a crypto utility token, Eloncity token (ECT) to facilitate local energy exchange and incentivize investment in battery energy storage system for storing newly harvested renewable energy.
Eloncity model uses a crypto economics framework to help determine a granular real time locational energy price for optimizing the energy supply and demand at an individual customer level.
Eloncity energy exchange platform supports an open and secure energy exchange network for efficient real time machine to machine exchange.
An Eloncity token (ECT) a utility token had been designed to facilitate Energy exchange within eloncity micro grids and will function as both a medium of exchange and store of value.
An Eloncity model employs local renewable resources to mitigate risk to the environment and public health while increasing the local power system resilience and adaptability.
Eloncity plans to use BC technology to reduce energy cost in a variety of ways.
Eloncity technology will help to produce electricity virtually free, thus powering the world with affordable clean energy.
Eloncity will contribute to the development of decentralization of traditional power infrastructure into millions of self-sufficient micro grids, which can store renewable free energy and eventually power the world with clean energy.
CONCLUSION
Eloncity is all about decentralizing a move towards localization from the unbinding the centralized energy services to shared consensus Blockchain ledger to crypto utility token.
This model is not limited to the technical efforts to reshape the energy infrastructure but also about replacing bureaucratically burdened hierarchies and empowering communities and individuals to participate in creating a vibrant, safe, secure, healthy, sustainable and equitable energy future.
Eloncity main goal is to solve a universal issue that affects all people. This project focuses on replacing traditional power system with a decentralized power infrastructure that is made up of millions of self-sufficient micro grid and hereby makes stored renewable energy widely available at all hours of the day. This would solve the problem of an imbalance in renewable energy's supply and demand, a hot topic in recent years.
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