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T he Efforce White Paper is a force to be reckoned with , running to 54 pages , which should be expected when you combine the nebulous worlds of cryptocurrency , blockchain and energy efficiency . Add into the equation Apple co-founder Steve Wozniak ’ s involvement , however , and the technological-come-trading proposition becomes more persuasive .
Fundamentally the Efforce platform aims to change the way energy savings are generated and redistributed globally . Energy savings financed by the contributor is tokenized ( through ‘ WOZX ’) and used or sold to energy-intensive consumers . The supply of WOZX is capped at 1 billion tokens .
The tokens listed on the HBTC exchange early December made a remarkable entrance – catapulting to a barely comprehensible $ 950 million in the first 13 minutes , and they have since been listed on the Bithumb and Gate . io exchanges . To date , private investors have stumped up $ 18 million , creating an $ 80 million valuation .
The energy efficiency market has boomed beyond recognition in the last decade , reaching a value of $ 241 billion , though the IEA reports investments are likely to have fallen around 12 percent in 2020 on the back of the decline in global economic growth . But the trend is up , and to meet the IEA ’ s efficiency targets , it will need to grow rapidly to $ 580 billion by 2025 . It takes a lot to turn Wozniak ’ s head – he still gets around 12 pitches a day – but clearly he has seen the potential .
FEBRUARY 2021