Project Description

Eloncity is one of the select ambitious blockchain projects in renewable energy domain. While there has been some blockchain projects in energy trading, Eloncity is more than just mere energy trading. Eloncity proposes community-centric model. In essence, it facilitates production of renewable energy from solar photovoltaic (PV) cells at micro level in customer or community site, store energy in battery energy storage system (BESS) locally, and which could be exchanged and tradeable based on the supply-demand equilibrium. ECT utility token will essentially be used for energy exchange and store of value. This is very simple picture of Eloncity.

Why there is a need of Eloncity?

We all know that oil and gas is not a sustainable industry. The reserves are limited to some countries. Moreover, widespread environmental pollution effects from oil and gas leaks have been demonstrated in the past such as Aliso Canyon gas leak in USA.
Another source of energy i.e. nuclear energy also pollutes environment significantly and endangers human life. For instance, Chernobyl nuclear disaster in Ukraine and Fukushima Daiichi nuclear disaster in Japan are some of the horrific incidents. Japan eventually decided to decrease its nuclear energy capabilities. Apart from pollution, there are also concerns about safety and reliability.
The traditional grid system are often not resilient at times. In the occasion, when the demand is very high, the system often fails. This raises an eyebrow for adaptability and resiliency.
The affordability cost of electricity has gone up significantly. In the time, where there is a promise to produce renewable energy locally, this is certainly not ideal for electricity consumers.
The current transmission and distribution network is so convoluted that significant energy is lost during distributing from remote location. This is clearly not profitable to all stakeholders.

Therefore, in the light of existing problems, Eloncity is lurching one step ahead with the smart use of blockchain platform coupled with renewable energy production, exchange and trading. One of its primary objective is to virtually power the whole world for free through renewables. To understand more about the supply demand equilibrium, it is recommended to walk through the whitepaper posted on KrypitalNews telegram channel.

ECT Token

ECT token is used as a utility token in the platform. As stated in the whitepaper, it serves two functions primarily.

A medium of exchange on Eloncity network. Consumers earn ECT by trading the surplus energy to peers, whereas community member uses ECTs to access local electricity services.
A store of value on Eloncity network. Eloncity compliant BESS should reserve sufficient ECTs that is equivalent to the value of its electricity capacity to participate in the automated exchange which eventually makes the ECT a store of value backed by the value of electricity.

Eloncity Team

Some of the key experienced team members are stated below.

a. Andy Li, Founder

• Led ChinaCache to build the content distribution network (CDN) Internet infrastructure.
• Led Alibaba Cloud Computing Data Center Architecture team to pioneer the application of direct current (DC) power system for mega data centers in Asia.
• Mastered the network traffic engineering at Cisco System.
• Since 2014, leading POMCube Inc. to develop intelligent networked BESS.

b. Michael Nguyen, VP of Program Development

• 30-year career spans across multiple industries.
• Holds 17 patents and four industry awards for technology innovation.
• Work focused on California’s ambitious energy programs and policies.
• Worked with key stakeholders including California Energy Commission and Public Utility Commission.

c. Gregary Liu, Marketing Director, Americas

• 11+ years experience in server system solution architecture and product development.
• Served as Lead OCP/OCS/OPEN19 design requirements for Mega-Datacenter.
• MBA in Management of Technology, National Chiao Tung University; B.S. in Physics, National Taiwan University.

d. Dunping Yao, Hardware Engineering Manager

• 6 years experience in BMS hardware design.
• Degree in MSEE in Detection Technology and Automatic Equipment, University of South China.

e. Justin Wang, Product Manager

• Lead Architect for iCAN, NetZero, Architect, Modular Data Center, Smart3Technology.
• Sr. ME, Emerson Network Power, Xian, China.

Eloncity Advisors

Some of the top notch advisors are stated below.

a. Howard Choy, Local Government, and Public Agencies

• Led the Office of Sustainability in Los Angeles County to develop and manage energy and environmental programs for both municipal operations and in the Los Angeles County region.

b. Michael Yuan

• Received a Ph.D. in Astrophysics from the University of Texas at Austin.
• Author of 5 books on software development, published by Prentice Hall, Addison-Wesley, and O’Reilly.

c. Bryan Allen

• Beginning in 1987, began working at the Jet Propulsion Laboratory in Pasadena, California.
• Won three major aviation prizes and is the owner of 22 world aviation records.