Apple’s co-founder, Steve Wozniak, launches his newest company- Efforce

Efforce

December 9, 2020

Reading Time: 2 minutes

After 44 years of successfully founding and running the Apple tech giant, Wozniak’s new efforts to create a decentralized platform that invests in energy-efficient projects has been warmly received by the private companies. In just a few minutes of launching, the company reached a $950 million market capitalization- around ten times its original listing price.

The new cryptocurrency token released by the company- WOZX, is currently trading at $1.49, a massive explosion from the initial price of $0.1.

How Efforce Works!

Efforce runs on blockchain technology. The platform allows users to participate and benefit from energy-saving projects by providing energy savings to its users in Wozx and letting it mature into shareable assets. Efforce will receive contributions from investors letting companies benefit at no cost. Extra savings will then be recorded on blockchain in real-time. Energy Service Companies (ESCO) can now increase productivity while reducing energy consumption.

The Energy Market

For a long time, this market has remained staggering at a value of approximately $20 million. Only after the inclusion of key players, including Wozniak, did the industry boom. Governments in China and political/economic unions such as the EU have indicated strong energy efficiency funding support. However, for a global efficient world scenario, the market should be able to increase their investments to an exponentially high value of $580 billion.

Efforce might just be the GameChanger for the market! This is why

The ESCO investor group has to access a relatively high target of about $200,000 in order to run a minimal requiring energy-efficient project. Far too often, the group turns to traditional banking, which lacks the expertise to evaluate the return on investment and frictions out the entire process.

Also, with such a high monetary requirement, only larger enterprises are choosing to go green.

Efforce comes and rescues the sinking ship by first democratizing the market. Inefficient bank systems are cut off, and the blockchain technology kicks off. Smaller companies and the general public will now be actively involved in accessing energy-efficient projects and benefit from them while still creating meaningful environmental efforts.

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