ElonCity — Review of ICO

ElonCity is a decentralized platform aimed at improving the lives of the community through the use of renewable electricity and the blockchain mechanism in its own ecosystem by building and deploying decentralized power stations, the electricity from which will be supplied to the platform users.

About the project:

The idea of creating such a kind of platform appeared because of our common dependence on huge electrical networks, which harbor energy from everything from conventional light bulbs to large enterprises. But, with ever-increasing energy consumption, there are no changes in the supply chains. At the same time, the project includes improving the transmission and distribution network using alternating current, with the management of these flows by regional system operators or independent system operators. These operators should regulate the supply of electricity without overloading the network with flows that will correspond to the need for consumption.

Problems of Sphere:

  • the problem with the harm to the environment and public health;
  • problems related to security and reliability of networks;
  • problem with resistance to disruptions and overloads, as well as adaptability;
  • the high cost of electricity, which only grows.
  • Given the problems listed above and the fact that the world’s population is consuming more electricity and we need to look for ways to reduce energy consumption.

Solutions:

  • a trading system that is based on the system of blockchain mechanism and the use of artificial intelligence algorithms, which will ensure maximum transparency and fair market prices in real time;
  • Smart Energy storage systems using new technologies, such as IoT (Internet stuff) and others for correct energy distribution with minimal losses;
  • innovation in the removal of peak load and the competent use of all electricity;
  • use of electricity without re-conversion of capacity to eliminate energy losses and increase the competitiveness of renewable electricity, which is closest to the points of its consumption;
  • new systems that will provide evidence of stored capacity and the most appropriate use of energy resources.
  • Using the latest development and suggestions to solve the problems that are described above, ElonCity will create the following benefits for its users:
  • on the platform will be open and safe energy transactions, which are possible due to the maximum transparency of the mechanism of blockchain and the use of innovations;
  • a single and efficient electricity market with real-time price changes, whereby they will not only grow as in a conventional market, but also fall if the energy becomes larger and the consumption less;
  • increased reliability of energy networks;
  • the model of the ElonCity ecosystem makes it possible to reduce the costs of using electricity and increase the safety of its use because, in addition to being cheaper, it is also produced using environmentally friendly sources;
  • taking into account the above advantages, one can also focus on the public and the development of the economy and infrastructure of those countries in which this platform will operate with its technologies and so on;

Architecture:

Roadmap:

With regard to the history of the platform and its development plans, we can say the following: in 2014, POMCube was created to develop a new battery storage system, optimize local power supply and extend the use of renewable energy sources; In the third quarter of 2015, the first product of BESS and iCAN was created, pilot production and testing of the market started.

In the 1st quarter of 2016, there was a commercial launch of the first BESS product with maximum convenience for users. The concept of a virtual power station using intelligent energy conservation systems (BESS) was also created. In the second quarter of 2016, mass testing of the iCAN market in North America was conducted. In the fourth quarter of 2016, the second product of iCAN Light energy conservation systems was launched. Also, the development of off-grid markets (where there was no network) began NetZero.

In 2017 – demo version of NetZero. Network power management, the use of solar energy and so on.

In the third quarter of 2018, the sale of ECT platform tokens. Beginning of construction of the first NetZero campus. In total, the company produces 1 billion tokens and 320 million will be available for purchases during the ICO.

In the 4th quarter, the launch of networks with a schedule of 1500 V DC. Managing systems using artificial intelligence and launching a pilot project with 400 VDC.

Further, it is planned to develop the project with the launch of all its functionality, with conferences in different cities and countries to capture the market of Europe and Asia. With the development of the platform, it is planned to increase the number of renewable energy sources and support for electric vehicles. Then connect their networks to centralized AC networks and further implement the project.

In conclusion, I want to say that the project is really interesting. The development of alternative energy, and in general, innovations, in this area is welcomed and, most likely, will attract many new users from the “eco-world” to the platform. When the project begins to expand its activities, I think that they will be interested in a lot of people from Asia and Eastern Europe, how the problem of using and extracting electricity without wastage or practically wasteless methods is now acute. For acquaintance with more detailed information, I advise reading the information document.

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