We all know about Steve Jobs and the whole history of how Apple started in a garage, what we fail to acknowledge is that it was not just Jobs, Apple was co-founded by Steve Jobs and Steve Wozniak. He didn’t make it in the company as he quit sometime in 1985 over the fact that the company had been going in the wrong direction, he then sold most of his stalks away.
Well, after 45 years in the Silicon Valley technology industry, Steve Wozniak has returned with an interesting start-up called “Efforce”.
What is Efforce?
Efforce is a cryptocurrency and blockchain-based efficiency market for crowdfunding eco-friendly ‘green projects.’ Wozniak mentioned in a statement saying that Efforce was created to be a decentralised platform that can encourage and benefit investors who are investing in the world’s on-going environment-friendly projects aimed at making a significant difference in the climate and environment conditions of the world.
Along with the launch of Efforce, Wozniak also introduced a cryptocurrency token named “WOZX”.
What is WOZX?
WOZX is a cryptocurrency token which can be vaguely referred to as a fake/proxy for buying stakes in Efforce (any environment efficiency project). When anyone wants to purchase WOZX, the companies will have to register their project of selection to Efforce, who will assess and calculate the required investment and then create a written contract which will mention further details and factual agreements mention the returns from the investment.
So all in all, when the investors are open to funding environment efficiency or green projects, they will have to buy WOZX first, get it registered with the newly formed Efforce. This investment will then be used in the development of these on-going projects and all of these transactions between the investor, company and project are tracked and verified by a verified online ledger known as Blockchain.
Next, whatever energy savings is produced from those projects, they are metered and transacted back to the original investors or WOZX holders’ account as ‘Energy Credits’. These credits can then either be enjoyed to pay personal bills or can be returned back to Efforce for cash.
However, it is important to note that at the moment, investors can only buy WOZX from Singapore-based cryptocurrency exchange HBTC. In order to buy WOZX, the investor has to buy USDT-USD or stable coin Tether and then use the Tether to buy their WOZX token.
Cryptocurrency is not restricted to only one type of exchange but is available on multiple exchanges because of which at different exchanges, the price of the crypto varies.
WOZX will soon be listed on Korea-based cryptocurrency exchange, according to Yahoo Money.