by Hodler Ash 
What caught the eyes of the world is when the value of WOZX cryptocurrency increased by 1400% in less than a week. Steve Wozniak, the co-founder of Apple, launched this cryptocurrency for Efforce. This new blockchain project is something different as it has taken into context an environmental perspective. This platform aims to work towards bringing a noticeable change in how the energy efficiency market works. It welcomes any investor who wants to help the planet.
Steve Wozniak cryptocurrency is determined to make blockchain technology cheaper so that more companies are attracted to fund ‘green’ projects. Based in Malta, this startup has become the first-ever blockchain integrated energy-saving platform. It is made accessible to large as well as small investors from across the world, regardless of currency differences, so that they can monetize their transferable energy savings.
The launch of Efforce introduced with it a digital token, WOZX, which is named after Wozniak. The valuation of the company was $80M initially when investors had participated in private sales. But within the first 13 minutes of launch, a market capitalization of $950M was recorded.
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What Efforce Stands For?
It is not a hidden fact that increasing energy consumption and CO2 emission has been affecting the world drastically. The unstable climatic changes are the result of that. Wozniak stays put in his belief that the energy footprint and energy consumption have scope to be improved even without changing your daily habits drastically. Efforce is established on the belief energy can be saved if energy improvements are initiated. The team has created the first-ever decentralized platform which gives equal opportunity to everyone to participate in the noble cause and benefit financially from the energy efficiency projects across the world.
As is evident from their website, investors get a chance to participate in energy efficiency projects by purchasing WOZX cryptocurrency for future savings. Several companies can benefit from such improvements without any costs.
Jacopo Visetti, who is leading the project and also a co-founder of Efforce stated that it could be of great help for small companies during such difficult times. Switching to LED or streamline production processes can be too expensive for small businesses. Efforce aims to be the helping hand for such business owners to safely register their energy upgrade projects and receive funds from investors all around the world.
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How Blockchain Technology is used?
Companies providing energy services can list their names on this platform. WOZX cryptocurrency is the medium to buy into energy-efficiency in these projects. The Efforce team systematically validates the projects. Later the suitable projects are connected to the companies in need. They evaluate the investment needed and anticipates the returns. An Energy Performance Contract (EPC) is created which includes the details of savings and the duration of returns.
After that, the projects are listed for crowd distribution, from where participants can buy the project using WOZX cryptocurrency. Smart meters are attached to the blockchain to track the energy savings by these projects. The performance is displayed on an investor’s profile as an energy credit for use or sale by the investor. Energy credits are measured in megawatt-hours, which can be used to set electricity bills or can be sold back to Efforce in return for cash.
On 3rd December, WOZX standard trading publicly on HBTC.com and is aiming to launch on Bithumb Global soon, which is a renowned marketplace for decentralized currencies. Bithumb is a Korean site and it is not possible yet to buy and trade WOZX through a US exchange site. The supply of WOZX is limited to 1 billion tokens.
How is the world taking it?
It is the first time cryptocurrency is exchange to deal with the environmental crisis, but Wozniak firmly believes that this would be a turning point in history. Although private investors have appreciated this project positively, there is a section of people criticizing the idea.
Even though the debate is ongoing, the founders have shown utter confidence that if the project gets successful, the energy efficiency market will experience a massive influx of new investments and witness a drastic reduction in global emissions.
