[ad_1]
Apple co-founder Steve Wozniak started Efforce, a company that facilitates investments in energy efficiency projects through cryptocurrency and blockchain technology.
The company aims to be a marketplace to streamline the process of financing and undertaking energy efficiency projects by allowing them to receive input from the crowd of investors through its WOZX token, which was listed on hbtc Thursday. com.
Efforce claimed that listing increased Efforce’s market value tenfold to $ 950 million. The token will also be listed next week on South Korea-based crypto exchange Bithumb Global.
According to the company, energy service companies (ESCOs) tend to have limited access to capital as they are often unable to look to traditional banking channels as banks lack the technical expertise to properly assess the return on investment.
ESCOs can register energy efficiency projects with Efforce and it will validate the projects, assess their investment needs, calculate returns and create an Energy Perforce contract.
There will be a smart meter on the company’s blockchain to measure the energy savings of each project and turn them into energy credits which are recorded in the investor profile for use or sale.
“We created Efforce to be the first decentralized platform that enables everyone to participate and financially benefit from global energy efficiency projects, and create meaningful environmental change,” Wozniak said in a statement.
The company was co-founded by Wozniak, Jacopo Vanetti, Andrea Castiglione and Jacopo Visetti, who also founded AitherCO2.
[ad_2]
Source link