A BLOCKCHAIN PROJECT THAT HAS IGNITED AN ENERGY REVOLUTION - ELONCITY SECURES 20 MILLION USD IN INVESTMENT

SINGAPORE, Sept 18 (Bernama-BUSINESS WIRE) -- The rapid growth of the earth's population and the industrialization of developing countries are driving global energy demands to unprecedented levels. The world’s energy dependence on fossil fuels such as coal, oil, and natural gas pose significant risks to the environment and are one of the leading drivers of detrimental climate changes. The majority of scientists around the world agree that based on our current trajectory, the world is heading towards a series of irreversible ecological disasters. One possible pathway to alter this course is to decrease our dependence on fossil fuels drastically. The need for “GHG-free renewable energy” has become a pressing issue, concerning all of humanity. Combining Blockchain and Energy Technologies With these challenges, new approaches to energy production and distribution are needed. The solutions must support vibrant and sustainable global growth. Andy Li founded the AI Grid Foundation, a non-profit organization based in Singapore. The AI Grid Foundation advocates for the employment of decentralized renewable energy as a viable solution to the problems of our existing energy system. The AI Grid Foundation has collaborated with organizations and communities around the world to develop the ELONCITY Model, a community-based and consensus-driven approach that employs decentralized renewable energy resources as a means of removing barriers to universal, safe, secure, reliable, affordable, healthy, and equitable electricity services. In the ELONCITY ecosystem, the energy consumers play a critical role in the planning and implementation of their energy future. The blockchain smart contract platform and crypto utility token enable energy consumers to exchange locally produced energy, creating cost-benefit incentives for energy asset deployment within their communities. http://mrem.bernama.com/viewsm.php?idm=32697