Friday, September 17, 2021
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Apple co-founder Steve Wozniak launches blockchain firm

Apple co-founder Steve Wozniak has launched Efforce, a firm that facilitates investments in energy efficiency projects via cryptocurrency and blockchain technology.

The company plans to be a marketplace to streamline the process of financing such projects by enabling them to receive crowd contributions from investors via its token, WOZX.

According to coindesk, Efforce declared the listing has increased its market value tenfold to $950 million.

According to Efforce, energy services companies (ESCOs) tend to have limited access to capital since they often are unable to turn to traditional banking channels, as banks lack the technical expertise to properly assess the return on investment.

There will be a smart meter on the company’s blockchain to measure each project’s energy savings and turn them into energy credits that are saved in investors’ profiles for use or sale.

Wozniak stated:

“We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects, and create meaningful environmental change.”

The company was co-founded by Wozniak, Jacopo Vanetti, Andrea Castiglione and Jacopo Visetti.

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