if i say that Electricity is one of the major inventions on which our life is fully dependent no one can deny this fact . And for sure we can not think our life without this .Electricity is transferred from one location to another through an unique transmission system known as the power grid It is basically a network of synchronized power providers and consumers that are connected by transmission and distribution lines and operated by one or more control centers. These have the capability to respond quickly to the shifting demand and must continuously generate and route electricity to where it is needed.
The ELONCITY aims to decentralize the present electric infrastructure to millions of self-sufficient micro power systems. The cost of electric energy becomes clear to everyone. Everyone will be capable to create electricity virtually free and extremely affordable around the Globe.
Problem associated with Modern Platform :
The current power grids are the gems of the modern time but they are built on a design that is outdated. And that's why facing major challenges in providing a safe, reliable, secure and affordable energy service.
Other drawbacks of these old designed grids are :
- Environmental and Public Health Problems.
- Safety and Reliability Problems.
- Adaptability and Resilience.
- Unaffordable Electricity Cost.
Solution offered by ELONCITY :
ELONCITY is a decentralized ecosystem which wants to enable tracking and distribution of renewable energy generation sources. The platform will use blockchain technology to serve its purpose. They plan to develop a community where an individual can enhance their collaboration and sharing of energy.
ELONCITY plans to use AI and blockchain to develop a fair and transparent energy market which can handle real-time pricing. They will also work on IOT based energy storage system to balance out the demand and supply. The company will also remove the need for repetitive power conversion which will enhance the efficiency of the process.
ELONCITY promises to lower the expenditure in energy production and distribution by combining local grid networks, appliances and by decreasing energy loses. They also aim at producing renewable energy rather than relying on the use of fossil fuel for generation of electricity. This will also help maintain a balance in the ecosystem.
Technology Overview of ELONCITY :
Eloncity has developed its own Architecture of energy distribution which they called as Elonicity Decentralized Energy Architecture(EDEA)which is an ecosystem of decentralization technologies and crypto economic tools to enable the shared regenerative energy economy. The modular design facilitates tailored deployment of Eloncity microgrid for diverse communities around the world.