Future of Electricity

Eloncity ICO Review.png

Imagining our lives without electricity is an impossibility in today’s age with man’s rapidly growing dependence on electronic devices. Electricity has come a long way since Faraday discovered his motor and Edison created the first prototype of a lightbulb. Today electricity’s power is equivalent to the life’s breath that oxygen provides. The fact that needs highlighting is that current systems are still based on the aging design with advancements being few and limited in scope and implementation.

The model is based on a centralized grid architecture with large plants in remote areas and electric current transported across high voltage lines to destinations. This transmission is monitored by ISO’s who monitor production and consumption while ensuring congestions do not occur. This aging system faces multiple issues in guaranteeing safe, reliable and affordable energy services.

Issues

Environmental and Public Health issues due to the use of natural gases in most major power plants and cases like Fukushima which resulted in large-scale damage to life.

Reliability is poor because of the immense geographical span of the network and interruptions to supply cannot always be detected in real time.

Resilience is also poor as the network cannot often cope with overloads and breaks down.

Expensive due to inefficient AC-DC conversions

Solution

The challenges posed by natural disasters, climate change, and overpopulation have led to the demand for new distribution systems that are vibrant and support sustainable growth. One such model proposed by a Singapore based non-profit, AI Grid Foundation is the decentralized renewable energy model where local sources of energy like solar and wind are used to produce electricity locally for consumption allowing users to share energy equipment costs, benefits and energy. This community grid system can help fortify the centralized model and allow for better investment returns.

Eloncity’s proposed model is a scalable and replicable solution that ensures a more vibrant energy sector. It integrates the latest technology and knowledge obtained from previous attempts. The 4 basic tenets of the Eloncity model are :

A decentralized renewable architecture consisting of a blockchain platform to ensure a secure and reliable ledger for all high speed and high volume transactions, a crypto utility token ECT (Eloncity Token) to improve investment and create a global market for energy, an intelligent networked battery storage system (BESS) on customer premises reduces capacity costs and regulates the community. The DC network uses the DC produced locally and increases efficiency by doing away with repeated AC-DC transformations.

Community-level planning and implementation based on 5 fundamentals ie, community adoption, social application, leverage lessons, measured impacts and a localized roadmap.

Combined projects with revolving loans are used to ensure wide-scale adoption and community level acceptance.
A regularity framework to ensure fair market access with community safety, cost-effective and reliable energy as well as sustained access to the grid with no community left behind.

Advantages

Open and Secured Energy Transaction: ETCP or blockchain provides a ledger to record transactions securely and in an irrefutable manner that can be verified when required.

Uniform and Efficient Marketplace: ECT facilitates a market where communities can exchange resources and local renewable energy.

Greater Reliability: The Eloncity model provides more reliability with it ability to recover from potential disasters, unlike the traditional model.

Lower Costs: Cost control is performed by reducing conversions between Ac and DC and local production.

Increased Safety: Safer from accidents due to less dependence on fossil fuels

Societal Benefits: The model aims at advancing environmental, cultural and social values of stakeholders through an involved energy distribution scheme.

GHG reduction: Eloncity model proposes the reduction of GHG emissions.

Economic Development: The renewable model allows the community to grow as a whole with economic growth being one of the first indicators.

Target

Eloncity is targeted at communities which are currently reliant on fossil fuels and nuclear power through the centralized grid. In the first phase focus will be on disaster-prone and rural areas without electric services or subject to frequent disruptions, lack planning capacity or are hard to reach. Eloncity will partner with global organizations in phase 1 and educational institutions, financial organizations etc in phase 2 to spread the word about the project and ensure wide-scale acceptance.

AI Grid Foundation

AI Grid Foundation is a Singapore based non-profit that advocates the use of decentralized energy grids to address the issues faced by centralized energy grids in use today in terms of safety, efficiency and costs. With a blockchain based platform and a crypto utility toolkit that helps advance the aim of linking consumers and safe and secure energy providers across the blockchain network. By partnering with global technological and financial bigwigs, local governments and public sector entities, communities, non- profits and other stakeholders, AI Grid Foundation is looking at becoming the pathway to a tomorrow reliant on cleaner, safer, easily accessible and affordable energy.

Team

Eloncity has a dedicated team of individuals with the skills and experience needed to grow the organization optimally. Led by an eclectic leader, founder Andy Li who has vast experience in CDN and DC distribution systems. Notable team members include Michael Nguygen, VP, an industry expert who has worked with key players in the sector like the California Energy Commission and Gregary Liu a management and technology expert.

The advisors to the Eloncity team include notables personalities from public and private sectors across the electricity and energy spectrum as well as emergency service veterans.

Eloncity Partners.png