Tech expert Steve Wozniak launched a new company this week, more than four decades after Apple started with the late Steve Jobs.
Wozniak’s latest venture, Efforce, aims to use cryptocurrency and blockchain technology to make it cheaper and easier for companies to fund environmentally friendly projects.
The company says its goal is to “democratize” the $ 250 billion market for energy efficiency projects, just as Apple expanded access to personal computers.
“We created Efforce to be the first decentralized platform that enables everyone to participate in and financially benefit from energy efficiency projects around the world, and create significant 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 participate in energy efficiency projects that energy service companies list on their platform.
Efforce then tracks the energy savings achieved by those 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 began trading Thursday on the HBTC.com cryptocurrency market, a listing that increased Efforce’s market value tenfold to $ 950 million, the company says. The token will also be listed next week in another market called Bithumb Global.
Many small businesses “can’t afford to switch to LED lighting, optimize production processes, or even insulate to conserve heat, all of which could save them money in the long run,” said Jacopo Visetti, Efforce co-founder with 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 pioneer of personal computers. Wozniak stopped working at the company, which is now worth more than $ 2 billion, in 1985, about five years after its initial public offering.