Steve Wozniak, founder of Apple, has launched a Crypto Company called Efforce
Steve Wozniak founds a second company in his parents’ garage 45 years after co-founding Apple in Steve Jobs 1976. This time, Wozniak is starting a green tech and blockchain company called Efforce, he announced Friday.
The focus of his new company is energy. The company will use its smart contracts to find the best plan for energy producers and service providers to meet growing energy demands in the coming years. “That means looking at the demand side of the equation,” Wozniak told CNBC. “We can find the brightest minds in the world in the blockchain community, and we can leverage their infrastructure to make that happen. It’s going to take a long time to get anything done.” Energy companies have already been able to use blockchain technology to track electricity and gas pipelines. And blockchain, the digital ledger technology that underlies bitcoin, is the “power of the Internet of Things.”
The idea is to move the world away from fossil fuels and toward renewable energy and technologies that use less electricity. It’s an early-stage company with only Wozniak on board so far, but the tech mogul said he’s actively raising funds to get the company off the ground. “I’d like to do more, like an energy company or something,” Wozniak told CNBC, adding that he has two investors in the company. Efforce has also signed an exclusive partnership with a Canadian utility to use its blockchain platform called ConsenSys to make the electricity market more efficient worldwide.
“The company’s mission is to provide more efficient and accessible energy and a smart grid for people around the world,” he said in an interview with CNBC. And to create a platform that the whole community can use to do more interesting things like finance or music. Wozniak said that while energy companies and providers make money selling electricity, they overcharge users. He said the current system is controlled by big companies with government subsidies.
Efforce will focus on green tech and blockchain applications for the energy market. Efforce has secured a development contract from one of the largest wind farms in Mexico. The goal is to implement blockchain technology in the energy market. One of their core team members has also worked with the World Bank’s Global Development Lab for Renewable Energy. Blockchain has enormous potential to serve as a powerful tool to eliminate all forms of middlemen and ensure a more sustainable, efficient and equitable distribution of energy resources.
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