28 Jun 2018

ICO ELONITY ICO Review - Assessment: Free renewable energy project (Below is a summary of the discussion)

What is ELONCITY?

ELONCITY is a project not so new to the world energy industry, but they want to apply Blockchain technology. Eloncity wants to decentralize its power system into millions of microgrid grids capable of self-supplying electricity. Electricity will be produced and will be provided locally 24/7, and will directly compete with existing power supply units. Electricity prices will be more transparent. EVERYONE CAN USE ELONCITY TECHNOLOGY FOR FREE ELECTRONIC MANUFACTURING. And so, we can power the whole world using clean energy.

About the Eloncity project

Video Review


Founder of Eloncity

Andy Li, the founder of Eloncity and POMCube, served as chief technology officer for ChinaCache and a computer researcher at Alibaba Cloud. During his 12 years of experience working for Cisco in the United States, Andy developed an in-depth knowledge of traffic engineering and has since conducted extensive research into intelligent network access.

Andy Li - CEO of Eloncity Project

In 2014, Andy founded POMCube, a company focused on developing highly efficient energy storage systems controlled by cloud computing. Then in 2018, Andy's founding Eloncity was devoted to recreating billions of dollars of global electricity markets using blockchain technology. The resulting products have been put to practical use in the industry.

On May 4, 1818, Andy Li was invited by the 3 O'Clock Entrepreneurship Discussion Group to be a speaker and panelist on "Global Power Restructuring by Blockchain." Discussing the importance of using renewable energy, renewables can help tackle global warming and resolve energy conflicts.

Below is a summary of the discussion

Hanyu Liu: The topic that Andy talked about today is the use of blockchain to restructure the global electricity market. What is the relationship between blockchain and electricity?
Andy Li  : Blockchain closely linked to clean energy. Blockchain can help solve the current impasse that the government faces when promoting clean energy. To a degree, using blockchain technology and the token economy is the only way to promote the widespread use of clean energy. Unfortunately, many blockchain energy projects simply can not address the pain points of the market at a fundamental level. These projects only put old content into new packaging and are trying to reinvent the wheel.
Hanyu Liu: What is the reason for having too many blockchain projects focused on electricity transactions?
Andy Li  : If projects only change the trading system, then I do not think they can change any real problems. The real issue of power companies is not the payment system, but in fact, the pricing system due to the distortionary cost structure and their psychology are not improving over time.
The price that electric companies are charging consumers increasingly high, causing financial pressure on consumers. In fact, the trading system can not solve any problems at all; It can only help to make the price more market oriented. It can not solve the fundamental conflict of the electricity cost structure in our modern era of distributed generation.
Feng Wang: Is it because all industrial solutions are focused on developing patents instead of creating an atmosphere of excitement? In my opinion, a large number of blockchains projects are not legal, especially in the fashion industry and in the whitepaper of large companies.
Andy Li  : Yes, this winning strategy can not change the present status. Blockchain technology is our main ingredient. We at Eloncity hope to use this transparent and efficient mechanism to encourage investment in energy storage systems and solve the cold start problem of energy storage systems. With the rapid development of distributed power generation, if we can address the problem of all-weather power consumption and reduce the cost of using scattered electricity, then we can make clean energy. is our main source of energy.
Liu Hanyu: What about encouraging investment in energy storage systems? Is the current investment sufficient? What is the main issue for global power supply? Is there a supply shortage or oversupply?
Andy Liu : Incorrect time results in unbalanced supply and demand. Blockchain is the core of the trading system and each micro-grid has its own accounting ledger. The blockchain trading system will synchronize with the artificial intelligence algorithm by combining the state of the distributed energy sources of the Internet of Things (IoT) and will use the learning machine to distinguish the power demand model of the community. In addition, we will also increase the analysis of the impact of local power demand caused by regional events, weather and local energy prices so that we can provide users with electricity prices. more rational. Our goal is to make local electricity prices lower than grid electricity,
Ivan Jiang: We have a trading system, grid and personal ledger. So, what constitutes such a micro-network?
Andy Li  : From a physical point of view, a household connected to a DC network within a mile from home can be considered a micro mesh.
Ivan Jiang: How can we understand personal ledger? Specifically, what is the basic design of the ledger between the micro grids?
Andy Li  : Each micro has an accounting book, and the general ledger between microbooks is a completely separate accounting book. It is a multi-layered blockchain.
Chun Jiang: It seems there is a group of Oracles, such as regional events, weather and local energy prices. Why do not you need Oracles? Otherwise, it could be a centralized system, so why use blockchain?
Andy Li: These effects are changes in power demand. I think the blockchain is not fully representative of the hierarchy, or you can say that there is a misunderstanding of the "decentralization" that I just mentioned - complete decentralization more suited to use the eternal dispersion knowledge. telecommunications. However, the average user can not absorb much of that information. Therefore, we need to use artificial intelligence and use the Oracles calculations to produce the recommended reference price.
Chun Jiang  : Changes in demand will be reflected directly in the trade, but for this external data, it is Oracle, or it is a centralized pricing mechanism. Do you mean that you want to integrate changes into an entire oracle, or want to implement a centralized pricing mechanism?
Andy LiOnce again, the price mechanism is distributed more easily. Prices are matched to a decentralized system, and each grid has a different environment. As mentioned above, it is preferable to use AI to match prices compared to a centralized system. From the beginning when no Oder, the AI will record the book, Oder. It just asked us to go from the inside out to match the deal. Then it will create a transaction, and this will continue indefinitely. You can refer to the centralized exchange market, for example how the value between IDEX and EtheraDelta can be exchanged. 
And in the future, micro-mesh will communicate with each other, this will gradually eliminate the price difference or even a discount. Because setting different prices for different time slots in the day means achieving a balance between supply and demand, Centralized and decentralized are concepts well known by traditional blockchain users. In fact, it does not need to be emphasized whether it is focused or not; The only way to develop is through distribution or weak central mechanism. Therefore, the center node will also become a member of the distribution node.
Ivan Jiang: So I'll buy your "electric wall", put it in my house, and give electricity to others while earning the card for myself?
Andy Li : Yes, this is a method to start cold. We hope to encourage people to buy energy storage systems by providing clean energy storage methods and also encourage the world to support Eloncity energy storage devices. For every 1 MW clean energy stored, 16 ECT can be rewarded. When total clean energy is stored in excess of 1 TWh, the same ECT can be reimbursed for every 2 MWh of storage, etc. Before the end of this incentive plan, 32 GWh of clean energy is stored. Can award an ECT. 32GWh electricity will be enough to support 1 million households in a day! In addition to receiving the ECT, people can sell more power during peak hours to earn more revenue from energy storage devices.
Eloncity Not Tesla Energy 2. Although we admire Elon Musk for leading the clean energy revolution and the persistence of trying to make the world a better place, Tesla Energy uses Single-node. Its speed to build energy meters ahead of the meter is limited by power companies, and speeds are not fast enough. We hope that we can leverage our collective efforts to build a post-meteorological energy system that will be thousands of times faster and can reduce the use of scattered clean energy. We decided to open a set of scientific and technological methods to encourage manufacturers from all over the world to jointly develop and produce photovoltaic (PV) energy for storage systems. distributed energy storage, energy storage systems, as well as exchanging and exchanging energy. 
They will then directly sell the equipment to developers, system integrators, power installers and regional governments. We will also expand and open the blockchain trading system and software to calculate fair trade prices. Communities can build a blockchain-based trading system and use AI to minimize user instances. Our goal and hope is that this self-sufficiency community will grow and multiply and we will not need to fight it against ourselves. We will also expand and open the blockchain trading system and software to calculate fair trade prices. Communities can build a blockchain-based trading system and use AI to minimize user instances. Our goal and hope is that this self-sufficiency community will grow and multiply and we will not need to fight it against ourselves. 
They will also expand and open the blockchain trading system and software to calculate fair trade prices. Communities can build a blockchain-based trading system and use AI to minimize user instances. Our goal and hope is that this self-sufficiency community will grow and multiply and we will not need to fight it against ourselves. Our goal and hope is that this self-sufficiency community will grow and multiply and we will not need to fight it against ourselves. We will also expand and open the blockchain trading system and software to calculate fair trade prices. Communities can build a blockchain-based trading system and use AI to minimize user instances. Our goal and hope is that this self-sufficiency community will grow and multiply and we will not need to fight it against ourselves. Our goal and hope is that this self-sufficiency community will grow and multiply and we will not need to fight it against ourselves. 
They will also expand and open the blockchain trading system and software to calculate fair trade prices. Communities can build a blockchain-based trading system and use AI to minimize user instances. Our goal and hope is that this self-sufficiency community will grow and multiply and we will not need to fight it against ourselves.
Chun Jiang: So you really call yourself Eloncity to pay homage to Elon Musk!
Andy Li  : Yes, that's because we are standing on the shoulders of giants. For example, we benefit from Elon Musk, Thomas Edison's direct technology, and Nakamoto Satoshi's blockchain technology. This is the task of our time. Tesla is also working on it. We share a common goal.
Liren Chen: Tokens can be sent without blockchain technology. Many people think the token is "blockchain"?
Chun Jiang: Do you plan to deploy any specific technology?
Andy Li  : We currently have a set of solution plans. There are cases in the US and Mexico, and we have successfully deployed a village in Sanguanico, Mexico to help achieve grid autonomy.
Liu Hanyu: You can talk more specifically on how to make the battery factory increase value?
Andi Li In our PhotoVoltaic (PV) industry, we can easily see that the profitability of manufacturing and IP is currently under full control by companies such as Tesla Energy and SunRun. However, in this situation, we are affected by the negative impact of the large trade deficit between China and the US and China and Europe. Eloncity hopes to change this situation so that the battery factories actually have added value. 
By generating profits not caused by production efficiency, we want to encourage investment in battery technology, increase the rate of the energy density of the battery, and basically reduce the unit cost of the battery. We encourage people to buy energy storage systems by providing clean energy storage methods, At the same time, battery makers have higher sales (similar to mining machines), which is a positive cycle. In this way, it will be able to push the world towards energy storage devices that support the Eloncity protocol.

No comments:
Write comments

Interested for our works and services?
Get more of our update !