Steve Wozniak, Apple’s co-founder, has launched a new blockchain project called Efforce.
Efforce, a blockchain-based energy efficiency crowdfunding platform, enables contributors to support energy efficiency projects by investing in tokenized future savings.
This platform will be the first blockchain-based energy-saving platform with access to small and large investors across national borders. Through the platform, Energy Service Companies (ESCOs) will increase operational capabilities by listing their current projects.
Efforce aims to democratize the energy efficiency project marketplace, which is currently worth over $250 billion.
The launch of Efforce went alongside the launch of its token, WOZX, on HBTC.com. WOZX can be used by contributors to buy into energy-efficiency projects that ESCOs list on the platform. The energy saved by the projects will be tokenized back to WOZX and distributed to the contributors.
Commenting on the project’s mission, Wozniak said:
“Energy consumption and CO2 emissions worldwide have grown exponentially, leading to climate change and extreme consequences to our environment. We can improve our energy footprint and lower our energy consumption without changing our habits. We can save the environment simply by making more energy improvements. 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 backing of WOZX by Wozniak comes after Efforce’s previous attempt to raise between $15m and $53m in an initial coin offering in mid-2018 failed to gain traction. Wozniak’s backing may result in successful market penetration for Efforce in the lucrative blockchain space.