on the crypto
Apple co-founder Steve Wozniak has launched Efforce, a company that facilitates investments in projects that improve the energy efficiency of a business, thanks to cryptocurrencies and blockchain technology.
Efforce acts to curb climate change
Efforce's aim is to make it cheaper and easier for companies to finance environmentally friendly projects. Specifically, the company aims to streamline the funding process for projects aimed at improving the energy efficiency of a business by allowing them to receive investor input via its WOZX token, which was listed on Thursday on hbtc.com. .
Efforce said that the token's listing increased Efforce's market value tenfold, to $ 950 million. The token will also be listed on South Korea-based cryptocurrency exchange Bithumb Global next week.
Efforce's goal is to be the first decentralized platform that allows a wide range of investors to participate, and financially benefit from, projects that improve energy efficiency globally, creating significant environmental change, Wozniak said. in a note.
Blockchain and cryptocurrencies at the center of Efforce's mission
According to the company, energy services companies (ESCOs) tend to have limited access to capital as they are often unable to turn to traditional banking channels, as banks do not have the technical skills to properly assess the return on investment. .
ESCOs will now be able to register their projects with Efforce, who will validate them and evaluate their investment needs, calculate returns and create an Energy Perforce contract. Many small businesses "cannot afford to switch to LED lighting, streamline production processes or even isolate rooms to optimize heat, which could save them money in the long run," said Jacopo Visetti, co-founder. of Efforce together with Wozniak.
"Efforce allows entrepreneurs to securely register their energy efficiency project online and obtain funding from all types of investors around the world."
There will be a smart meter on the company's blockchain to measure the energy savings of each project and turn them into energy credits that will be saved in the investor profile for use or sale.
Democratize the market for energy efficiency projects
Efforce said in a statement that its goal is to "democratize" the $ 250 billion market for energy efficiency projects, just like Apple (Apple shares - ticker: AAPL) has expanded access to personal computers.
Wozniak and Steve Jobs founded Apple in 1976, turning it into a pioneering company in personal computer technology. Wozniak quit working at Apple - which is now worth more than $ 2 trillion - in 1985, about five years after its IPO. Efforce was co-founded by Wozniak, Jacopo Vanetti, Andrea Castiglione and Jacopo Visetti, who also founded AitherCO2.
