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Steve Woznaik and Blockchain ...

Steve Woznaik and Blockchain ...

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Steve Woznaik and Blockchain ...

Steve Wozniak, whom we know as the co-founder of Apple, entered the blockchain technology with the EFFORCE project. Steve Wozniak believes that his partner EFFORCE will help stop climate change by promoting “green” energy efficient technologies. Steve Wozniak joined this project in 2018.

On the project's official website, “Efforce is the first platform that enables contributors to benefit from the energy savings generated by energy efficiency projects around the world.” It is defined as.

Steve 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.”

Who is Steve Wozniak ?

A Silicon Valley icon and philanthropist for the past three decades, Steve Wozniak helped shape the computing industry with his design of Apple’s first line of products the Apple I and II and influenced the popular Macintosh. In 1976, Wozniak and Steve Jobs founded Apple Computer Inc. with Wozniak’s Apple I personal computer. The following year, he introduced his Apple II personal computer, featuring a central processing unit, a keyboard, color graphics, and a floppy disk drive.

Jacopo Visetti, one of Efforce's partners, said, "The companies will then have more available cash to use for other critical projects such as infrastructure or hiring"

The system's cryptocurrency is the WOZX token. They are ERC20 Utility Tokens based on the Ethereum blockchain, listed on the HBTC exchange on December 3rd. Bithumb Global will be listed in the coming days. WOZX is currently trading $ 1.28 on HBTC. The supply of the token was limited to 1 billion.

The goal of the EFFORCE

EFFORCE is the first blockchain-based platform that connects the demand and supply of energy efficiency investments. Through EFFORCE, anyone wishing to attract investments to make energy improvements to their buildings or industrial processes can easily do so by registering their request on the platform.

The EFFORCE team will validate the request and develop, together with the company, the energy efficiency improvement project, evaluating the necessary investment, the annual internal rate of return (IRR) and thus concluding an Energy Performance Contract (EPC).

Internal Rate Of Return (IRR)

The internal rate of return on an investment or project is the "annualized effective compounded return rate" or rate of return that sets the net present value of all cash flows (both positive and negative) from the investment equal to zero. Equivalently, it is the discount rate at which the net present value of the future cash flows is equal to the initial investment, and it is also the discount rate at which the total present value of costs (negative cash flows) equals the total present value of the benefits (positive cash flows).

IRR accounts for the time preference of money and investments. A given return on investment received at a given time is worth more than the same return received at a later time, so the latter would yield a lower IRR than the former, if all other factors are equal. A fixed income investment in which money is deposited once, interest on this deposit is paid to the investor at a specified interest rate every time period, and the original deposit neither increases nor decreases, would have an IRR equal to the specified interest rate. An investment which has the same total returns as the preceding investment, but delays returns for one or more time periods, would have a lower IRR.

Energy Performance Contract (EPC)

Energy Performance Contract (EPC) is a form of "creative financing" for capital improvement that allows to finance energy upgrades from cost reductions. Under an EPC arrangement, an external organization (ESCO) implements a project or renewable energy project to achieve energy efficiency and uses the revenue stream from cost savings or generated renewable energy to pay back the costs of the project. costs of the investment. Essentially, the project will not receive the EVD payment unless it saves energy as expected.

For example, for the energy redevelopment of an industrial shed, it may be necessary to:

Replace the lighting system.

Insulate the walls and roof.

Improve the heating and cooling system to make it suitable for the needs of the building,

exploiting and recovering as much as possible the heat cycle generated by the production process itself, through heat recovery. An intervention of this magnitude could lead to an IRR of 38% on the investment for the 7-year duration of the EPC contract.

How EFFORCE works ?

Contributors; Contributors can participate in energy efficiency projects by acquiring tokenized future savings.

Companies; Companies benefit from energy efficiency improvements at no cost and the resulting savings are written in real time on the blockchain.

Blockchain; A smart contract redistributes the resulting savings to token holders and the companies without intermediaries based on exact consumption/savings data.

Token diagram The scheme below shows the role of the EFFORCE token and how it will affect the whole eco-system. The circulation of the Token is enhanced by the use of the Platform as a major tool for Energy Efficiency.

Mining is initiated when energy-saving projects are launched successfully and rewards will be degressive every year. The releasing plan is spanned in 10 years according to the following timeline: 25% will be released in the first year, half of the first year during the second year and then degressively by 10% each year further.

Result

Steve Wozniak is one of the company's six founding partners. Its name and presence will certainly boost the promotion of a company claiming to be worth about $ 1 billion after listing the WOZX token on cryptocurrency exchange HBTC. The importance of green energy and climate position is increasing day by day. For this reason, I think it is a project that should be followed closely. The success of this project may inspire other green projects.

As I always said, listen to everyone, decide for yourself...