The demand for energy is boosting yearly as the planet population is increasing more and more equipment are in need of power. The 21st century we're living is in marked by the style internet of things with all being linked. For the next years, as block-chain will be adopted and the linking the globe, it's expected that the power consumption will also boost with that. As of now, most of the power we apply is arriving from power grids.
The Eloncity project is going to face those problems using the blockchain technology. Eloncity is trying to build up a decentralized energy design architecture with millions of self sufficient microgrids. By doing so, energy will be available at any time with the highest security standards and a way higher reliability than todays energy network. Through the blockchain technology furthermore Eloncity will use those advantages such as having full price transparency, which is nowadays mostly not given by the providers. Everyone who uses Eloncity and contributes to it, will make electricity virtually free, so the world can be power up with clean energy.
If you read their papers, you can find a very simple explanation. Blocking removes intermediaries and all inaccuracies that arise. This means that the means and power of the network are thereby saved. The project is interesting but there are a lot of competitors who have already collected or who are going to collect money.
