Blockchain-Cryptocurrency technology will lead the global sustainability movement
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Energy poverty is currently one of the main concerns of national governments, with first world countries facing severe energy shortages. For example, a Eurostat report showed 35 million EU citizenswhich makes up 8% of the EU population, could not use house heaters during the winter of 2020. Furthermore, the war between Russia and Ukraine and supply chain disruptions led to inflationary pressures, resulting in unaffordable energy prices.
There are several reasons why the energy crisis is no longer limited to underdeveloped countries. To begin with, energy production is still heavily dependent on fossil fuels, such as coal mining and deep-sea oil extraction. Profit-based megaconglomerates have monopolistic control over these resources, thereby unilaterally determining energy prices. In addition, structural difficulties keep energy poverty levels so high.
To tackle the energy crisis, governments and companies must shift towards sustainable energy practices. It is important to understand the structural problems in the energy sector before proposing sustainable energy solutions.
Analysis of structural difficulties in the energy industry
Currently, the energy infrastructure is a cost-intensive domain with massive power generation facilities, substations, transformers, transmission lines and distribution networks. Companies require huge capital expenditures to build an electricity generation and distribution network. If low-income families cannot pay high electricity prices, the companies will not be able to cover their costs.
The geographical location and topographic costs also determine energy prices. It is incredibly expensive to build electricity infrastructure in a remote area covering great distances over rugged territories. In addition, inhospitable terrain and poorly suited environments will discourage engineers from building out and maintaining the power grid all year round.
To overcome these structural problems, the industry needs to come up with innovative technological solutions.
Blockchain technology can solve structural problems
The aforementioned problems require an easy-to-install, compact and grid-independent energy solution, which does not require technical supervision. The blockchain-based company, Elan Future, offers such technologically innovative solutions that drive down energy costs. Elan products are even better than massive solar, hydro and wind power plants that also require expensive heavy equipment.
For example, Elan’s Apollo is a plug-and-play, elegant device that uses the patented parametric resonance technology to amplify the energy output. It is compatible with all energy sources and generates 10 times more electricity, saving energy costs for households, industries and electric car batteries. Due to low maintenance costs, everyone can use Apollo, even in difficult terrain, without spending more money.
Another Elan product, the Model 2, uses sophisticated negative ion technology to produce AC/DC electricity from the surrounding air. The slim design helps consumers to use it anywhere without incurring high costs. Another Elan device called Bia connects seamlessly to a household’s electrical panel and reduces energy consumption of heating elements by a staggering 97%.
The Elan blockchain, ‘The Chain’, connects all Elan devices together allowing users to remotely monitor their devices. Also, the Elan token powers the network with consumers using the tokens to buy Elan products and pay for their electricity. They can also send Elan tokens to underprivileged people through Elan’s mobile app to generate their own electricity.
Therefore, Elan Future enables people to move away from a corporate-controlled electricity generation model to a cleaner and greener alternative. Through Elan’s technology, a fair and sustainable energy model is now a reality.