ELONCITY: Sustainable renewable energy projects managed by the community, Invest now for lower energy costs

Introduction

We survive on energy our body produces, and humankind survives on the nonrenewable energy sources present on earth. We have been utilizing these sources since time immemorial. Nothing we see in the world can exist without the energy we produce through these sources. Countries on the edge of development tend to overlook the impact of the harmful action on the planet that directly affects our quiet existence. The path of development and progress has to be sustainable for the human beings in the long term. But, the change can't occur overnight. Studies, research groups, and governments are all in the process of making the planet a safer place to live.

Many studies point out our high level of dependence on the non-renewable energy sources, and it is not easy to create an alternative path. We have to solve the challenges in the process of creating an alternative path. These challenges are as follows; safety and reliability issue, high cost and environmental impact. The centralized grid of today is unsustainable in long term. We need innovative solutions for the current energy crisis. Many companies are already working on the alternative sources of energy. Do you think we can build better solutions for these challenges?

Solution offered

AI GRID Foundation is working on the ELONCITY MODEL. A decentralized model of energy production and distribution is being created to solve the imminent energy crisis. To motivate the local community and reduce the cost of electricity, renewable sources of energy are appropriated in the new model. Solar energy and wind power will be commercially produced by the locals. The decentralization of the energy production and management creates efficiency and transparency in the energy world. Blockchain technology plays a key role in the model as it provides a reliable and transparent ledger. Recording, managing, producing and distributing are all taken care of by the local community.

This is a local community model of electricity management with the help of blockchain technology. Funds from investors are provided to the well-managed projects in the network. Projects can take loans and repay after the project completion. The demand and supply are maintained by the community. Since this is a community-driven model, the success of this model is dependent on the community. There are many advantages of the platform and a few of them are as follows; lower costs of electricity, increased safety and safe for the environment.

ICO INFORMATION AND TEAM

1,000,000,000 ECT Tokens are created for the project. 320,000,000 tokens are reserved for the sale. The exact dates for the token sale are not yet available. The funds from the ICO will be spent on the development and marketing of the platform. The team working on the project is experienced in the energy management and blockchain technology.

Conclusion

The rapidly evolving technology space offers rewards to the innovators who are constantly looking for better and affordable solutions. The challenges of the current electricity market can only be solved through innovative technology. We are bound to find solutions that are sustainable and healthy for the environment as well as humankind for the long term. I think that creating a marketplace for the energy based on the renewable energy sources is a great idea, and the current technology can easily support this development. People love products that are easy to use and affordable. When the electricity will be locally produced and distributed then there is bound to be better management and efficient distribution.

The demand for electricity is on the rise and in coming years, with the introduction of electric vehicles, we will see a major boost in the demand. Covering an area which is going to be huge in coming years and providing a sustainable solution for the current challenges is the key objective of the platform. People will invest directly in the project because it is based on their locality and community. The success of these microgrids will boost the adoption in the larger area. What do you think about the future of these microgrids based on the blockchain technology and controlled by the community? Will they be successful, and offer a viable alternative to the current system?

Website - https://eloncity.io/

Whitepaper - https://eloncity.io/download/Eloncity_WhitePaper_V0.87_20180626_Final_Release.pdf

ANN - https://bitcointalk.org/index.php?topic=4465922.0

Telegram - http://bit.ly/2rJxy9u

Published by - Etheran

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