Hello friends today I am going to update you about the latest Eloncity news from 11th august to update.
Introduction
The conventional energy is still our primary source of energy. The cost and high barrier to enter energy industry, prevented renewable energy from becoming the primary source of energy on earth. Eloncity decentralizes our power infrastructure into millions of self-sufficient micro-grids. Locally produced energy is available 24/7 and directly competitive to utilities. Energy price becomes transparent to all. People use Eloncity’s open technologies to make electricity virtually free so that we can electrify the world with clean energy.
11th AUGUST
The Eloncity project has now appeared on the IcoHub. You can access the website at the following link to vote for the Eloncity project.
http://ico-hub.org/icos/24485
After accessing the link, log in to ico-hub.org using your Telegram account. Once logged in, vote for the Eloncity project by clicking the Upvote button. The vote will help the Eloncity project gain more credibility from the community. Eloncity is currently receiving 272 votes, received a very high rating A, in line with the hottest ICOs today.
16th AUGUST
Billionaire Sanjeev Gupta said the investment by his company, SIMEC ZEN Energy, formed part of his firm belief there was a great future for energy-intensive industries through a transition to more renewable energy.
"Solar will be the main base of our ambitions in Australia but we will have some wind and we have lots of storage solutions," Mr Gupta said.
He also added “The 600 gigawatt hours of generation per year was enough to power 96,000 average homes, with its 780,000 solar panels across 11 square kilometres.”
"So together that gives us the ability to offer dispatchable baseload power at prices cheaper than other forms of power."
But the opening of the new solar project has included a warning — that Australia must continue to support the role that coal and other fossil fuels will play in an orderly transition to renewables.
He described renewable power as the "ultimate liberator" to energy-intensive industries like the Whyalla steelworks.
Mr Gupta said the new projects would increase supply reliability and reduce the cost of electricity for operations owned by GFG Alliance, including the steelworks.
The British billionaire has been seen by many as Whyalla's saviour, after he purchased the financially burdened Arrium business in August last year for about $700 million, following years of downsizing and restructuring to keep the city's major employer open.
Since purchasing the steelworks, he has pushed forward with a "Green Metal" strategy to use renewable energy to improve manufacturing efficiencies and provide greater control over the entire process.
This has included buying a 50.1 per cent stake in ZEN Energy to secure energy supply.
"All of these projects will not only improve reliability and greatly reduce the cost of electricity in our own operations, they will also provide competitive sources of power for other industrial and commercial users, while at the same time playing a key role in the market's transition towards renewables," he said.
21st AUGUST
The ECT is a utility token designed to facilitate energy exchange within an Eloncity micro grid and among adjacent Eloncity micro grids.
23rd AUGUST
Recently, the United Nations’ Clean Energy Ambassador Dai Zhen officially joined the Eloncity team as an advisor. Dai Zhen has profound insight and abundant experience in both the block chain and energy industries.
Dai Zhen, currently an advisor at Echoin, a public energy blockchain company. Echoin has assembled a dream team of industry experts recruited from industy giants like Alibaba, Tencent, and State Grid Corporation of China. Members of the Echoin team concurrently own and manage other businesses like Chezhubang Technology and S&D Logistics Incorperated. In addition, Echoin has established cooperation agreements with PetroChina, Sinopec, Shell, Yanchang Petroleum Internation, 58 Suyun, Huolala and other well-known enterprises.
Dai Zhen and ELONCITY’s founder, Andy Li, share the desire to evolve the antiquated energy industry into the age of consumer empowered, renewable, distributable energy. Mr. Zhen’s abundant connections and experience in the blockchain and energy sectors will prove invaluable in the expansion and implementation of ELONCITY technologies on a global scale. By being the first to explore the application of blockchain in the energy sector, Dai Zhen and Andy Li have the opportunity to empower end-consumers to distribute their energy supply, while simultaneously promoting the development of clean, renewable energy.
25th AUGUST
ELONCITY's Cornerstone/Private Sale Registration has ended. ELONCITY is still successfully financing in the bear market. We greatly appreciate everyone’s participation! Participation details of public token contribution will be announced soon.
29th AUGUST
As announced on the official Twitter of the project, Eloncity's Cornerstone / Private sale program ended August 23. Official registration date of June 28, over nearly 2 months, Eloncity has successfully launched the process of calling private capital in the context of the market in the downturn. That proves the trust as well as the interest of investors for the project. The Eloncity team appreciates the contribution of investors. Plans for the semi-public event will be announced in the near future.
Thanks for everyone’s support.
If you have any inquiry, please email to contact@Eloncity.io
Our public sale will start soon, stay alert to the scammer, double check the email, and make sure it is coming from our official inbox.
You can go to Eloncity.io to register your information and also register with tokeneed.com with UID to pass KYC to participate public sale.
Future uses of ECT
On Eloncity networks, ECT is used to exchange energy. Provided
And the demand is governed by the short-run energy price fluctuations in ECT. Consumers earn ECT by providing excess power to other users on the network. Community members use ECT to access local electrical services and ECTP compliant products (for example, POMCube NetZero).A value store - Each BESS compliant ECTP device must reserve enough ECT equivalent to its power value to participate in the automatic exchange. That makes ECT valuable by supporting the value of electricity. The value of each ECT is determined by the total ecosystem energy trading volume and the velocity of ECT transactions. Because of exchange reserve requirements, there is a limit to the velocity of currency, which creates value for ECT and creates a stable token system.
As a means of saving renewable energy costs. To participate in a real automated energy exchange with other platform participants, it is necessary that the BESS store maintain a sufficient number of ECT cards, depending on the strength of the user. Specifically. This contributes to the creation of a global ecosystem where ECT will act as a means of preserving the value of renewable energy. The final price of the ECT token will be affected by the speed of the energy transactions and their totals.
Use ECT tokens as the primary means of renewable energy exchange. In essence, is like this: if you have excess storage power in the storage system, you can supply that energy to another user of the Eloncity ecosystem and earn ECT cards. This would be very demanding in underdeveloped countries, where energy shortages are a real problem for all citizens. In addition, the token acts as a way to access renewable energy locally.
In addition to these functions, one of the most important tasks of the ECT token - it is an information exchange, which combines renewable suppliers and consumers in a community. A single focus, which ultimately leads to the creation of a new market of affordable renewable energy. In this market there will be no boundaries by geographical location, and any political or economic barriers. Many consumers who previously did not have access to this kind of energy would now be able to use the Eloncity platform-based token to solve the problem of power shortage.
Conclusion
Eloncity Model aims to unlock the full potential of what it means to develop “community-based off-the-grid solutions” and demonstrate a replicable community-driven model for other villages’ development in the future. The company’s goal is not to replace current utilities but to improve overall resource utilization and reduce dependence on the centralized power supply system.
Eloncity Official Website: https://eloncity.io/
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Krypital News: https://t.me/KrypitalNews
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