EFFORCE, the first platform leveraging the power of blockchain technology to democratize access to energy efficiency projects and financing opportunities, announces today that its WOZX tokens are now listed on the Gate.io exchange. With tokens available on Gate in addition to HBTC and Bithumb Global exchanges in a span of only 20 days, EFFORCE is on a fast trajectory to get its utility tokens out to millions of potential contributors quickly.
Steve Wozniak is co-founder of the company that is striving to transform and disrupt the $250B energy efficiency market. Using the EFFORCE platform, companies can sign up to undertake energy efficiency measures at no cost, allowing them to reallocate their liquidity to more critical tasks. The projects are funded through EFFORCE’s decentralized platform by large and small contributors who purchase WOZX utility tokens and are rewarded through the fractionalization of the transferable energy savings.
The company plans to add more exchanges for its tokens as its first projects become available to the general public on the platform in Q1 2021.
“Energy efficiency projects offer a major opportunity to mitigate climate change and provide a direct reward mechanism, so we are excited to offer more tokens to more people around the world as EFFORCE takes off,” said Jacopo Visetti, Project Lead and Co-Founder at EFFORCE. “Since our first listing, we have moved quickly along our roadmap. We are now pleased to be on a third exchange. Public support for our mission has been massive, reflecting the value of bringing energy efficiency improvement projects to a broad audience.”
With China and Europe making strides in efficiency and with the U.S. ready to rejoin the Paris Agreement and restart beneficial climate change policies, EFFORCE will give everyone the chance to participate in projects that bring about meaningful environmental change.
By using the blockchain and utility tokens, EFFORCE eliminates many of the challenges impeding progress in the energy efficiency space. The platform broadens business access to energy improvements as well as public access to energy efficiency financing. Now, EFFORCE will make it possible for any contributor, not just those with access to large amounts of capital, to participate in these important projects. Contributors will also be able to fund projects across borders without being limited by regulations on domestic or local opportunities.
Energy efficiency projects are an important way to improve the carbon footprint and lower energy consumption without changing people’s habits. As Steve Wozniak has said, “We can save the environment simply by making more energy improvements.” Today’s market for energy efficiency projects is very large, but the potential is even greater. To achieve the International Energy Agency’s Efficient World Scenario, the sector still must double the size of investments to $580 billion by 2025.
EFFORCE is led by a team of veteran executives who have been successfully involved with the energy sector for more than a decade. Visetti previously founded Milan-based AitherCO2, with annual revenues of $240 million and no outside investment funding. EFFORCE is only the second company Wozniak has co-founded, the first being Apple 45 years ago. He was attracted to EFFORCE for its unique approach to democratizing energy efficiency.
One of the most promising innovations in regards to energy has to be the cryptocurrency approach. Many people have already begun to see the potential of this new technology holds for the future of renewable energy efficiency. Energy efficiency experts have been using this method of collecting and organizing information in order to make it possible for people to benefit more from their energy use. The main idea is that there are too many wires and parts in a typical electrical system that can lead to lost efficiency, expensive repairs, and even human error. By using the blockchain approach, an entire chain is cut off at the point of use so that the flow of data is guaranteed and constant. With the increased efficiency, this method offers, it may just be the answer to a very important energy question.
Unlike traditional networks, the blockchain approach doesn’t allow data to be lost because of a broken link. Also, this form of the network doesn’t suffer from communication failure between nodes like other networks do because every node is connected to every other node in the network. This form of energy efficiency makes it easier for any engineer or scientist to track and monitor every single energy transaction going on throughout a building or network of buildings. Even the smallest changes in the amount of electricity being used can result in huge savings for businesses and consumers alike.
Not only does this form of energy efficiency to help cut back on energy costs, it also saves a lot of time and money in the long run. Every time there is a loss in energy efficiency, it takes a bit of time for the system to learn from its mistake and be able to work efficiently the next time around. However, by continuously monitoring each transaction, the block chain learns from these mistakes and adjusts the next time around, getting the job done much faster than it would without the lessons learned the last time around. All in all, the blockchain approach to energy efficiency not only helps cut down on energy costs and the amount of damage to the environment; it also saves time and money, which benefits us all.