Several press reports and news articles have appeared about a new crypto project called "Efforce", among the team of this project is Apple co-founder Steve Wozniak.

Steve Wozniak has ventured into blockchain-focused start-up Efforce, whose work is focused on energy optimization and efficiency.

45 years after starting his first project (Apple), "Wozniak", through his ambitious new project, wants to use cryptocurrency and blockchain technology to further improve energy consumption and make it more comfortable for companies and finance green projects.

The Malta-based startup Efforce has been working on it since last year, and Wozniak had hinted about it at the 2019 Delta Summit.

The Efforce Project offers the first blockchain-based energy-efficient platform that can be accessed by large and small investors, regardless of the amount invested in convertible energy.

The launch of the “Efforce” project came with the inclusion of the Cryptocurrency “WOZX”, which takes its name from the name “Wozniak”.

According to the company, the Cryptocurrency was initially received by investors in the form of a sell-off of $ 80 million.

Then it recorded a market value of $ 950 million in the first 13 minutes of its public offering.

What is the Efforce blockchain project?

Wozniak stated in one of his media outputs to introduce the "Efforce" project:

Energy consumption and carbon dioxide emissions have grown dramatically around the world, leading to drastic climate changes.

Energy footprint can be improved and energy consumption can be reduced without changing habits significantly.

On the grounds that energy can only be saved through further energy improvements.

The Efforce team has created the first-ever decentralized platform that allows anyone to participate and benefit financially from energy efficiency projects around the world.

As the project's official website states, shareholders can participate in energy efficiency projects by having future savings while companies can benefit from these improvements at no cost.

Mr. Jacopo Viceti, project leader and co-founder of the Efforce project, stated in an official statement:

These are tough times for small businesses.

Most of them are unable to switch to LED or simplify production processes.

Efforce will allow these business owners to securely register their energy upgrade projects and receive funding from investors around the world.

How does Efforce use blockchain technology?

The cryptocurrency “WOZX” can be used for purchase in energy efficiency projects that energy service companies can include in their statutes.

The Efforce team validates the project and then develops the project with the company, including assessing the required investment, calculating the expected returns, and creating an Energy Performance Contract (EPC) detailing the savings and duration of project returns for the company and the investors.

In the simpler sense, the Efforce project will play a mediating role between energy companies and investors, and Efforce will try to cooperate with energy companies to improve energy efficiency and open the door to financing that can be contributed by investors who expect to obtain returns after the success of raising energy efficiency.

To clarify further, Efforce said it then lists the project for mass distribution, where participants can buy using WOZX cryptocurrencies.

Energy savings through these projects can be tracked and measured through smart meters linked to the blockchain, which can be viewed in the investor profile as an energy credit for use or sale by the investor.

The "Efforce" press release indicated that the energy credits are distributed in megawatt hours, which can be used to offset electricity bills or resell to "Efforce" for a fee.

Cryptocurrency WOZX:

The cryptocurrency “WOZX” began publicly trading on December 3 on the “HBTC” platform and will be launched on the “Bithumb Global” platform soon.

The cryptocurrency, "WOZX" backed by the founder of "Apple", rose by more than 1,300% within days

It is unusual to use the cryptocurrency to deal with an environmental crisis, but Wozniak hopes it will lead to meaningful change.

While private investors have responded positively, another section criticizes it.

In one critical comment, it was stated as follows:

It is not entirely clear from the start what "Efforce" is ...

Maybe we can describe it as equivalent to the carbon offsetting market, just for energy?

Well, if that is the case ... He doesn't need a blockchain or a cryptocurrency, that can be done today in dollars and euros.

... I just hope this project isn't aimed at irrational people ... although it definitely seems so.

With the controversy surrounding the technology introduced by the Efforce Project, the company believes that if successful, the energy efficiency market is likely to see massive inflows of new investment and drastic cuts in global emissions.

Wozniak hopes to use blockchain technology for a long time and aims to break new ground in this field with the Efforce Project.