A pretty unknown crypto technology known as Efforce, co-created by Apple’s co-founder, Steve Wozniak, designed a system to leverage the power of blockchain in democratizing access to energy efficiency projects, investment opportunities, and its token is known as WOZX.
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What you should know about WOZX
The fast-rising crypto, WOZX has just hit a market capitalization of over $1 billion within days of launch, which is over 10x the value of its listing price.
- WOZX is currently trading at $1.4840 per coin on HBTC, up 1,300% from its initial price of $0.
- Wozniak, the celebrated co-founder of Apple and the crypto project Efforce (WOZX token) spoke on the need for operational efficiency, as the world embraces energy conservation.
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Wozniak further disclosed this through his involvement in Efforce.
He will continue to support business efficiency, by expanding its access to energy developments as well as public access to energy efficiency investments.
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.
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“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,” said Wozniak.
“In these difficult times, many small companies are struggling. They can’t afford to switch to LED lighting, streamline production processes, or even insulate to conserve heat, all of which could save them money in the long term.
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“Efforce allows business owners to safely register their energy upgrade projects on the web and secure funding from all types of investors around the world. The companies will then have more available cash to use for other critical projects such as infrastructure or hiring.”
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How Efforce works
Efforce helps by evaluating the investment required, calculating the expected return, and creating an Energy Performance Contract (EPC) that reveals the savings and the periodicity of the returns for its investors and the business.
- The crypto structure then lists the project for crowd contribution.
- Stakeholders can buy into the project using fractional or whole WOZX tokens.
- Efforce measures energy savings on these projects through smart meters attached to the blockchain. The savings data are loaded to the investor’s profile as an energy credit for use or sale by the investor.
- Energy credits are distributed in megawatt-hours.