What Is Efforce (WOZX)?
Efforce (WOZX) is a blockchain-based platform that seeks to save energy. The platform seeks to enable users worldwide to participate and benefit from its energy efficiency projects. Efforce is also known as an 'Energy Saving Trading Platform' that aims to bridge the gaps between demand and supply of energy to develop efficiency. The term energy efficiency here refers to optimizing energy use by reducing wastage that, in turn, cuts the operation costs. In simple words, the Efforce platform aims to improve energy efficiency, leading to environmental benefits and increased security.
The platform’s website states that Efforce is a revolutionary initiative toward increasing energy efficiency with the new-day technology. Efforce also depicts a contractual mechanism that aims to link companies that desire to improve process efficiency and energy consumers. It is a similar model used by E.S.Co (energy service companies). Besides that, Efforce platform seeks to overcome the issue of high startup costs in large-scale companies that rely on giant energy plants. Efforce tokenizes the saved energy of users and aims to add it to their liquidity securely. The platform seeks to benefit its users by rewarding 1% of revenue generated from energy savings.
As per the whitepaper, the Efforce platform’s native token is 'WOZX.' The WOZX is an Ethereum-based utility token that complies with the ERC20 standards. The whitepaper claims that the token has created the first energy performance smart contracts. Energy performance smart contracts seek to ensure the savings obtained over a specific period of time of a specific energy efficiency project.
Moreover, WOZX token holders can avail the rights and interests offered by the platform, including voting rights. The token can also be used as a reward for selected energy-saving projects.
History of Efforce (WOZX)
Steve Wozniak, the well-known cofounder of the corporation 'Apple,' is the cofounder of the Efforce (WOZX) platform. Ken Hardesty, Jacopo Visetti (project lead), Jacopo Vanetti (CTO and tech expert), Stefano Scozzesem, and Andrea Castiglione are among the other co-founders. Sergio Carloni is the platform's CEO. Aside from that, the team comprises a few more experienced executives. The platform is run by 'AitherCO2 SpA,' a company based in Italy.
