Eloncity - Sustainability of the Future of Energy Industry

Eloncity is a decentralized renewable energy ecosystem. This includes high-performance blockchain technology to enable tracking and distribution of electricity generation sources. The blockchain platform plans on making a community where individuals seeking energy can increase their collaboration and sharing of energy resources. The concept is in line with Eloncity’s idea of reducing the barriers that obstruct the adoption of decentralized renewable energy sources within the energy sector.

Eloncity modern life depends on massive electric grids to power everything. Despite great strides in technological innovation, the existing grid is largely built on an aging design. This design is basically a centralized grid architecture based on large power generation plants in remote locations that are connected to the customer sites through a complex labyrinth of transmission and distribution network.

Open and Secured Energy Transaction

The Eloncity blockchain protocol works on an open and secures distributed ledger for the efficient recording and tracking of transactions for the energy services. The blockchain platform also allows Eloncity to establish an auditable record for tracking the sources of electricity generation in the community. This feature enables a shared resource economy to maximize asset utilization rates and cost-effective access to decentralized renewable energy.

Unified and Efficient Energy Marketplace

Eloncity Token facilitates an open market that enables communities around the world to exchange energy and shared-resources locally and also to access the unified network of global renewable energy products and solutions. Similarly, renewable product and service providers benefit from a more open global market.

Greater Reliability

There is greater reliability that comes with using Eloncity since the decentralized energy structure bears an inherent design to allow the platform to anticipate, adapt, absorb or recover from potentially disruptive scenarios. The Eloncity design consists of locally solar PV arrays and intelligent networked BESS for maintaining local electric service stability, flexibility and resilient energy supply during grid service disruptions and emergency events. Until the sun or wind becomes available again to energize the local renewable generators, the BESS will power the whole community for the desired duration to ride through an emergency event. The Eloncity Model is a direct response to address the mismatch of electricity supply and demand at every level of the grid network and overcome the risks of single point vulnerabilities inherent in the centralized grid architecture.

Eloncity’s Target Markets

The potential markets for the Eloncity Solution would be areas that are being served by fossil fuel and nuclear powered centralized grid, or areas that lack electricity services. Eloncity aims at providing solutions for the areas that lack electricity infrastructure, while simultaneously offering tailored Eloncity solutions to mandatory utilities to address the chronic challenges facing the existing centralized grids. During the early market development phase, the Foundation will focus on disaster-prone and rural areas because these areas: (a) either have no electricity services or most vulnerable to electricity service disruptions, which would benefit the most from the Eloncity Model; (b) typically lack the local capacity to plan and create the safe, secure and sustainable energy future; and (c) are hard-to-reach and underserved communities.

ELONCITY Token (ECT)

The Eloncity Token is designed to facilitate energy exchange within an Eloncity microgrid and among adjacent Eloncity microgrids. The ECT will have two main functions:

• A Medium of Exchange – Eloncity token is used for energy exchange on the Eloncity networks. The supply and demand are controlled by the short-term energy price variations in ECT. The users earn ECTs by providing their extra energy to peers on the networks.
• A Store of Value – To participate in the automated exchange, each ECTP needs to reserve sufficient ECTs which are equivalent to the value of its electricity capacity. The value of each ECT is calculated by the total energy transaction volume of the ecosystem and the velocity of the ECT transactions. There is a limit to the financial velocity due to the exchange reserve requirements. This financial velocity creates value for the ECT and produces a stable token system

Token Details

• Ticker- ECT
• Platform- Ethereum
• Token type- ERC20
• Accepts- ETH
• Token supply- 1,000,000
• Amount for sale- 32%
• Conversion rate- 1 ECT= $0.12
• Hard cap- $33,000,000

Token Distribution

Conclusion

With a decentralized market filled with happy sharing and collaboration, Eloncity will be the respectful disrupter of the Energy Industry. The sustainability of this energy generating system is extremely high, so the nature and life on earth will be secured for additional multiple centuries. Disasters due to nuclear power generation and pollution happening through petroleum fuel burning will become nullified.