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Apple co-founder Steve Wozniak launches a new company after 45 years

Wozniak’s latest venture is called Efforce and aims to use cryptocurrency and blockchain technology to make it cheaper and easier for companies to fund ‘green’ projects.

December 07, 2020 / 07:42 PM IST

Steve Wozniak is starting a second company, more than four and a half decades after co-founding Apple with Steve Jobs. Wozniak co-founded Apple in Steve Job’s parents' garage back in 1976.

Wozniak’s latest venture is called Efforce and aims to use cryptocurrency and blockchain technology to make it cheaper and easier for companies to fund ‘green’ projects. The goal of Efforce is to “democratize” the USD 250 billion market for energy-efficiency projects.

Wozniak said in a statement, “We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects and create meaningful environmental change.”

The company has created a cryptocurrency token called “WOZX”, named after Wozniak. WOZX began trading publicly on December 3 on HBTC, a marketplace for decentralized currencies. According to a Medium post, the company will launch on Bithumb Global, another marketplace for decentralized currencies next week.

WOZX can be used to buy into energy-efficiency projects that energy service companies list on its platform. According to a report by CNBC, Efforce tracks the energy savings achieved by those energy projects and returns them to investors in the form of an energy credit that can be used or sold.

Jacopo Visetti, project lead and co-founder of Efforce said in a statement, “Efforce allows business owners to safely register their energy upgrade project on the web and secure funding from all types of investors around the world. The companies will then have more available cash to use for other critical projects such as infrastructure or hiring.”

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Moneycontrol News
first published: Dec 6, 2020 07:13 pm
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