Malta-based media outlet Independent has confirmed that Apple co-founder Steve Wozniak has invested and co-founded EFFORCE, a blockchain-based startup focused on energy efficiency.
Efforce claims to be the first platform that allows contributors to profit from the energy savings generated by energy efficiency projects worldwide. The platform brings together those who want to improve the energy efficiency of their buildings or industrial processes with a pool of investors interested in being repaid in tokens representing the energy savings achieved thanks to efficiency improvement interventions.
The other co-founder along with Woz is Jacopo Visetti, who is also the founder of AitherCO2, an environmental and energy market consultancy who provide a range of financial services and trading solutions.
Malta’s Prime Minister and disruptive technology enthusiast, Joseph Muscat, turned to Twitter to express his thanks to Wozniak for choosing Malta as the home for his foray into the blockchain industry.
The company appears to still be in the early stages of development and have a goal to compensate participants in the project through energy savings generated by worldwide energy response actions.
Woz is of the opinion that the most important thing for me is efficiency… how to get more from less…” and that he joined Efforce because “…they’re into efficient techniques for ongoing businesses.” He thinks that blockchain will bring improvements to energy use and reduce consumption without consumers needing to change their habits.
Malta has been chosen as the destination because they are forward-leaning when it comes to blockchain adoption. Government has plans to make Malta a blockchain island.