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Steve Wozniak, Apple's co-founder, launched a new cryptocurrency; Here is all you need to know about it

Divya Gandotra
Divya Gandotra

Nowadays, more and more people are bringing up environment-saving ideas into the cryptocurrency and blockchain world. Apple's co-founder, Steve Wozniak’s Efforce, falls into the same category.

Just like MOSS made it easy to offset CO2 emissions, Efforce will be a platform for energy efficiency projects to gain funding from the crowd contributions made on the cryptocurrency token WOZX. Currently, the token is only available on the exchange platform HBTC. But it will be seen in one more place from the coming week, which is Bithumb Global, a South Korea-based cryptocurrency exchange platform.

As per the organisation’s whitepaper, Efforce is described as,

“brings together those who want to improve the energy efficiency of their buildings or industrial processes with a pool of contributors interested in being repaid in tokens representing the energy savings achieved.”

Steve Wozniak has taken this initiative with the consideration that it is challenging for Energy Services Companies (ESCOs) to gain funding from banks because of a lack of ROI analysis. Therefore, these companies can register their energy-saving projects with Efforce. Once they get validated, and other factors are calculated, they will receive their Energy Performance Contracts.

The other founders of the company include Andrea Castiglione and Jacopo Visetti.