Overview And Current Problems

In a period where every industry depend on electricity for optimal performance and our daily life also revolves round electricity, and in the event of a power outage industries are brought to a standstill and there is little to nothing we can do productively. There is need for enhancement in the power generation and distribution to promote utmost performance of our industries and to power our homes.
There are some inherent challenges with the current electricity production and distribution. A great percentage of the world’s electricity supply is gotten from the burning of fossil fuel. The negative effect in the environment is one that is causing a lot of concern. It results in Green House Gas (GHG) emission into the atmosphere which is a major culprit of climate change. Health implications and high cost of electricity are some other problems plaguing the energy sector. The have been cases of gas leakages from power plants in the past which left a good number of people hospitalised and another number forced to temporarily relocate.

These and lots of other problems have necessitated the need for a new approach to electricity generation, distribution and billing. A more effective, efficient, eco-friendly and inexpensive electricity for the world.

Eloncity Proposition

The limiting factor to the widespread adoption of alternative renewable energy sources is the high cost of acquiring the materials and maintenance. So ultimately if there is going to be a shift to alternative energy sources, it should be cheap and readily available to end users. Eloncity is a blockchain based project that intends to decentralise the current energy structure. Instead of a centralised power grid powering communities to cities, Eloncity intends to create millions of self-sufficient energy micro grids that will provide clean energy locally and make it available to users at a comparatively competitive price.

Eloncity brings numerous benefits both to users and the environment at large;

1. Blockchain technology which will provide a secure, efficient, transparent recording of energy transactions. By eliminating third parties, it will create a seemless energy sharing and billing between users on the Eloncity ecosystem.
2. An open marketplace for Communities to trade energy locally. Users produce more electricity than they use will be able to trade the excess electricity to other users.
3. Users will find the micro grids and the blockchain technology more reliable than when they have to deal with the centralised grids and human beings when they are issues to settle. Smart contracts will oversee the settlement of transactions in the ecosystem with no room for disputes arising.
4. Users will be able to enjoy clean energy at a low cost.
5. Eloncity economic model enables individuals to earn income from trading energy in the marketplace with other users.
6. By shifting to alternative clean energy sources, environmental and public health is guaranteed.
7. It will also reduce Green House Gas emission.
   

ICO & Token Details

Eloncity is holding an ICO in order to raise the necessary funds to support and develop the project. The ICO will be in 3 stages, private sale, Connerstone sale and public sale. Out of a total of 1 billion ECT tokens, 32% (320,000,000 ECT) will be available during the different stages of the ICO. The soft cap is pegged at $10,000,000 while the hard cap is $30,000,000. Any of ETH or BTC will be accepted as a means of payment during the ICO.

The private sale is currently ongoing and is open to only whitelisted investors. In order to participate, investors will first of all have to create an account at the official Eloncity website and head over to Tokeneed for KYC verification. The verification process takes between minutes to hours to be confirmed, once your kyc has been approved, you will receive an email form Eloncity. Investors from China and America are prohibited from participating in the private sale.

Private Sale ICO details

Private Contribution: $19,000,000
Accepted Currencies: ETH & BTC
Minimum Investment Amount: $200,000
Maximum Investment Amount: $600,000
Discount: 15%
A vesting period of 9 months is applicable to tokens sold during the private sale and will be released to investors at 10% basis over a period of 9 consecutive times.
The Connerstone Sale and Public sale are yet to start but in order to keep abreast of the progress you can do well and follow the official ICO links.

For More Information

Eloncity Group: https://t.me/Eloncity
Krypital News: https://t.me/KrypitalNews
Krypital Bounty Group: https://t.me/KrypitalBounty
Website: https://eloncity.io
Whitepaper: https://drive.google.com/file/d/1dkUNgo1_m4X4gf96rfnwEIN-W4P5HB9c/view
ANN Thread: https://bitcointalk.org/index.php?topic=4465922
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