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.
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