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Tech maven Steve Wozniak started a new business this week – more than four decades after starting Apple with the late Steve Jobs.
Wozniak’s latest company, Efforce, aims to use cryptocurrency and blockchain technology to make it cheaper and easier for businesses to finance environmentally friendly projects.
The company says its goal is to “democratize” the $ 250 billion market for energy efficiency projects, just as Apple has expanded access to personal computers.
“We created Endeavor to be the first decentralized platform that enables everyone to participate in and financially benefit from global energy efficiency projects, and create meaningful environmental change,” Wozniak said in a statement Friday.
Efforce has created a cryptocurrency token called “WOZX” – named after Wozniak – that investors can buy and use to subscribe to energy efficiency projects that energy service companies list on its platform.
Efforce then tracks the energy savings made by these projects and returns them to investors in the form of an energy credit that can be used or sold, according to a press release.
The WOZX token started trading on the cryptocurrency market HBTC.com on Thursday – a listing that has boosted Efforce’s market value tenfold to $ 950 million, according to the company. The token will also be listed next week on another market called Bithumb Global.
Many small businesses “can’t afford to switch to LED lighting, streamline production processes, or even insulate to conserve heat, which could save them money in the long run,” he said. said Jacopo Visetti, co-founder of Efforce alongside Wozniak. “Efforce enables business owners to securely register their energy upgrade project on the web and obtain funding from all types of investors around the world.”
Wozniak and Jobs formed Apple in 1976 and made it a personal computer pioneer. Wozniak quit working at the company – which is now worth more than $ 2 trillion – in 1985, about five years after it went public.
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