ElonCity ICO Report – Power the World for FREE
Standard ICO Report Structure:
- Part 1: ICO Analysis (What is it about? What is the ICO intending to do? Describes what the platform is.)
- Part 2: CROWDSALE ANALYSIS – DETAILS & TOKEN SUPPLY
- Part 3: Useful Links (Further Research)
Part 1: ICO Analysis
The world continues to be transformed by blockchain technology. With the innovations of Bitcoin and peer to peer digital currency, as well as smaller tokens such as Ethereum which introduced the world to smart contracts, there is a new way in which the world can operate in a more efficient manner.
The team with ElonCity plan to build on top of these emerging trends to help with energy distribution and more efficient power grid systems. With this in mind, the team has developed a five-point model in which they believe the ElonCity grid will empower those utilizing it. The platform wants to solve the world’s need for renewable and local energy through the implementation of their robust plan. Let’s take a closer look at how the team with ElonCity plans to do this.
The ElonCity Solution
ElonCity has put together an impressive list of five features which they believe will be powerful incentives for users to join their power grid network.
First, the team plans to develop a blockchain-based trading system powered through artificial intelligence. This feature will help the market determine the fair value for energy at any given point depending upon supply and demand. Second, the team plans to develop a smart energy storage system to help with the grid’s efficiency.
The hopes of the storage system will be to balance the demands with suppliers of local production. Next, the team plans to develop a solution to allow for the last-mile problem, which will be referred to as the switching DC power bus.
Further, the DC power bus will enable the network to operate without peak load issues. Next, the ElonCity solution will allow applications to be driven by Direct Current (DC).
This feature should eliminate repetitive power conversions that are used today between transporting energy and actually utilizing it.
Finally, the platform will operate with a new protocol referred to as Proof of Stored Power (PoSp) which will be a custom mining algorithm dedicated to the ElonCity platform.
An Electric Solution
ElonCity plans to develop a solution to the electricity problem facing the world today, in which not enough energy is produced locally and much of the power generated is lost in transmission on the final mile of delivery. The ElonCity solution will assist with local energy transportation through the development of their peer to peer electrical grid
The main problem the team hopes to solve is the inefficiency found in electrical grids during their last mile of delivery to a customer.
For example, electricity can travel 50 miles via power lines and the cost of the last mile getting to a consumer is often more expensive than the first 49 miles. This is known as the last mile dilemma in the logistics industry.
In the near future, the team hopes their system of microgrids can be implemented across city and state electrical grids and help solve this problem.
Furthermore, through the implementation of this solution, they also hope to help with the adoption of electric vehicles. The team has plans for the development of EV charging stations which can help spread energy and fuel electric vehicles.
Part 2: Crowdsale Analysis – Details & Token Supply
Total token supply: 320,000,000 Tokens
Token type: Asset Token
Token Distribution: The ElonCity platform plans to distribute 32% of the total tokens minted to be offered for sale in its crowd sale, 32% goes to the platform’s Mining for Stored Renewables, 14.5% will be given to the Eloncity Lab, 14% for marketing, and the last 7.5.% for the platform’s team.
ICO Sale Phase: Presale
Token Price: 1 ECT = 0.12 USD
Crowdfunding Usage: The team does not disclose their planned use of crowdfunding.
Team Overview- Members and Advisers
The ElonCity team is led by Andi Li, with Michael Nguyen, Justin Wang, Gregory Liu, Duping Yao, Peng Xu, Haichuan Jian, and Allen Ding also on the team. The team is advised by a handful of professionals such as Bryan Allen, Chris Whalley, Enso Li, Haifeng Qu, Howard Choy, and many others.
Part 3: Useful Links (Further Research)
- Website: https://eloncity.io/
- Facebook: https://www.facebook.com/ELONCITY/?modal=admin_todo_tour
- Twitter: @Eloncity_io