Everything around us today, demands availability of electricity to function. We need power supply technically on all areas of our existence but the problem is this electricity we need is not readily available and as such, our performance is stalled. Also, the cost of acquiring this electricity is not an easy task as many people who have need for electricity most times are not able to pay for their electricity bills.
Eloncity is revolutionizing this space and making electricity available to everyone at any part of the globe and distributing it at a cheaper and more even rate. Let us see how they plan to do that in their recently done AMA.
During the AMA with Crypto crow, the CEO tried to explain what the Eloncity project was really all about. The AMA was worth watching. I will be analyzing all that happened during the AMA.
The following questions were asked and answers provided:
Question: What is ELONCITY?
Answer: Eloncity is all about the decentralization of power infrastructures into millions of micro grid and making it available to users at all times. Being built on the blockchain, Eloncity will bring about transparency in the trade of power across multiple networks. The blockchain technology will help decentralize the power infrastructures and give everyone access to the amount of power supply they will need. Not only will the blockchain technology on which Eloncity is built on bring about transparency in the power industry, it will also bring about trustworthy transactions as each party involved in a said transaction is able to verify it on the blockchain and as well keep track of it. This will enable a free flow of energy among users.
Question: How is the power generated, where is the energy coming from?
Answer: The power which Eloncity will be making available will be generated from the solar panel systems on roof tops of our homes and such energy generated from the solar systems in our homes, will be stored should incase such family or individual don’t get to use their whole energy. This is to say that Eloncity, will be enhancing the energy from our solar panels, preserve it and at the same time distribute or share it with those around us who has no energy supply or whom theirs is not enough to fend for their energy needs. There will be also communities which will be utilizing this power. The founder highlighted where the energy will come from, he pointed out that this energy will be coming from utility.
Question: How does the cost of maintenance of solar panels go and the utility of and benefits of the token?
Answer: The team clearly stated that there is no consumable cost when using the Eloncity power as the users don’t have to pay for it. Also, users will be generating the amount of power which they need and for those who are unable to generate their own power or who their own power is not enough for, there will be able to get enough power supply from the sharing model which the Eloncity will be adopting. This power being provided by Eloncity will be cheaper than what we have now in our communities.
The team went ahead to highlight how the token utility will be maintained by the project in order to ensure investors have maximum investment benefits. The following methods were highlighted:
The team noted that they will be holding a give amount of tokens in their reserve. Secondly, users on the Eloncity platform, will need to have a certain amount of tokens in their wallet for them to be able to use the platform and as such the utility of the token will be ensured and maintained as people will have need for the tokens in order to access the platform. The tokens will be used to also make payments in the platform.
Question:
How far have you gone in the project development?
Answer:
The development of the project started sometime back in 4 yrs ago when they developed a cloud based and energy system. There is also a power conversion system property which the team has.
Summary
In the AMA, the founder (Andy Li) and Mike Nguyen tried to explain more intensively all the underlying factors of the benefits of the Eloncity project and explaining what the project really is all about. It goes to show how more effective and cheap it is to use the Eloncity platform for power generation and supply. Eloncity is bringing common renewable resources to everyone to ease the demand of power by making it readily available to everyone at all times. By decentralization, energy will be available for all to use and at a very low cost. Eloncity will be serving as the platform through which energy will be distributed to all and sundry who would have need for it.
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