The leading names in the technology and development field are joining the blockchain and cryptocurrency bandwagon as space is constantly growing. With the increasing recognition and acceptance of Bitcoin and other cryptocurrencies, many companies and tech innovators are indulging in the same.
Most recently, the co-founder of Apple, Steve Wozniak, joined the crypto bandwagon and announced a new project, Efforce.
Apple Cofounder launches energy efficiency marketplace.
Efforce is an innovative blockchain-based platform for users to exchange tokenized energy. After almost 45 years, Wozniak came up with a brand new project which brings together the various firms which want to increase energy efficiency. Lots of Bitcoin mining is done in the area of cheap renewable energy by the organizations to augment their energy capabilities by sharing it with contributors paid back with the energy savings tokens.
Apple co-founder said that the Efforce project would help promote sustained and large-scale green energy projects that would help in environment conservation and reduce the effect of energy consumption across the globe.
Efforce emerges as the first of its kind decentralized project through which anyone can contribute to energy conservation by participating in energy-efficient projects and receiving financial benefits. The project is an initiative to create a marketplace where tokenized energy can be traded without any hassle.
Efforce announced its token WOZX, whose trading started on December 3 on hbtc.com. Several green energy projects based on blockchain technology are already thriving in the cryptocurrency industry, including Power Ledger, We Power, and LO3.
Wozniak touts Efforce as the ‘first platform, which allows the contributors to benefit from the energy savings generated by energy efficiency projects worldwide.
The participating firms can leverage the model to receive energy efficiency improvements, and the savings are stored on the blockchain. The contributors participate in energy efficiency projects by procuring the tokenized savings. A blockchain smart contract is used to redistribute the savings to the token holders as per the savings data.
While blockchain technology is blamed for excessive energy usage, Efforce aims to create better energy-efficient projects that contribute to environmental conservation.
Disclaimer
The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.
