Eloncity Shines Through “Blockchaining The Future Summit”

Eloncity

On May 22–23, the very first “Blockchaining The Future” Summit of 2018 was held at W Hotel in Taipei. The summit was sponsored by Yangming Mountain Future Society, founded by renowned Chinese economist, Jiaming Zhu. The summit is targeted for all blockchain industry affiliates in Asia and is supported by a long list of supporters including the Monte Jade Science and Technology Association of Taiwan, Hong Kong Blockchain Association, Asia-Pacific Blockchain Association, Bitfield Entertainment Inc., ANYPAY TOKEN, and more. Zhiguo Mao, former Chief Executive; Xiulian Zhang, former director of Taiwan’s Financial Management Committee; Shouxun Zhou, Secretary General of The Monte Jode Science and Technology Association of Taiwan; Jiaming Zhu, Honorary Chairman of the Yangming Mountain Future Society; and Xishi Ye, current director of the Yangming Mountain Future Society, all attended the summit’s opening ceremony. The conference aimed to build an international platform that would allow blockchain experts across the Asia-Pacific region to fully integrate, communicate, and develop together.

Photo credit: TechNews

The summit agenda focused largely on the use of blockchain technology in solving real-life problems as well as using cryptocurrency to create a blockchain ecosystem. The Yangming Mountain Future Society invited some of the most well-known leaders of BitCoin development, early-stage industry investors, and the world’s leading scholars and experts in the blockchain and BitCoin industry to discuss the current status and future trajectory of blockchain technology. The prestigious guest list included Jiaming Zhu, famous economist; Roger Ver, nicknamed the “BitCoin Jesus”; Dr. Craig Wright, early-stage BitCoin developer; Dr. Yongli Wang, former President of Bank of China; Yuren Xu, founder of Taiwan’s “FinTech Association”; and Andy Li, founder of Eloncity and POMCube.

However, out of the summit’s heavy-weight keynote speakers, the individual that received the most attention was Andy Li, founder of Eloncity. The attention Li received is attributed to Eloncity’s main goal to solve a universal issue that affects all people. Eloncity’s project focuses on replacing the traditional power system with a decentralized power infrastructure that is made up of millions of self-sufficient micro-grids, and thereby make stored renewable energy widely available at all hours of the day. This would solve the problem of an imbalance in renewable energy’s supply and demand, a hot topic in recent years. People across the world have encountered political and economic issues due to the ever-decreasing fossil fuels as well as issues with renewable energy production. The world is excited about Andy Li’s work in applying blockchain technology to solve energy issues and benefit humanity as a whole. Eloncity’s technologies will help to produce electricity virtually free, thus powering the world with affordable clean energy.

Andy Li formerly worked as a Principle Engineer at Cisco. His accumulated 12 years of experience at Cisco served to make Li more than proficient in traffic engineering and also provided him with valuable insight and research experience on the intelligence of access networks. Li believes that access network intelligence is far more efficient than that of the core/distribution networks, i.e. backbone network intelligence. In addition, Li served as Chief Technology Officer at ChinaCache and Lead Researcher at Alibaba Cloud Computing. Li is committed to provide ECN/CDN-like solutions for Internet infrastructure. While at Alibaba Cloud Computing, Li initiated the application of a DC distribution network for super data centers in order to increase power efficiency. Due to widespread recognition and implementation from industry experts, “data center direct-current” has become an industry trend.

In 2014, Andy Li founded POMCube Inc. with the goal of designing a high-efficiency battery energy storage systems (BESS) to directly power DC appliances. Later in 2018, Li’s newly founded Eloncity was committed to combining blockchain technology with the trillion-dollar global electricity market in an effort to help people use renewable energy as the main energy source of the future.

At this Summit, Andy Li delivered a keynote speech entitled, “Providing the World with Free Energy.” In his talk, Li raised the issue about centralized utility, only 3% of the world’s resources comes from renewable resources, while in the era of decentralized power generation, consumers finally have the ability to balance supply and demand of the market. Eloncity plans to use blockchain technology to reduce energy costs in a variety of ways. Li explained the principle behind Eloncity’s work and described how the cryptographic economic approach will encourage and promote real-time, fully automated energy trading in microgrids. He also described how a price equilibrium can be reached through a dynamic suppply and demand. Li used an array of detailed data to show how distributed generation costs will be much more affordable than current prices and how rooftop PV power generation systems will enable local power generation to have a higher market competitiveness. And in conclusion, Li also introduced how Eloncity protocols could be applied in real life and discussed the basics of energy storage systems. After seeing the potential behind Eloncity’s work and the positive impact it could have world-wide, many summit participants talked with Andy Li and demonstrated an interest in future collaboration.

Andy named this project Eloncity as a tip of the hat to Elon Musk’s Solar City project. However, Solar City is limited by a centralized system, while Eloncity’s project will utilize emerging blockchain technology. In the era of decentralized power generation, the way that people produce and use energy will change at a fundamental level. All participants of the “Blockchaining The Future Summit” are excited to welcome the decentralized power generation era with Eloncity at the industry’s helm leading the way.

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