Energy News

Steve Wozniak founds blockchain energy efficiency company


On the 18th July, the Malta Independent reported that Apple co-founder Steve Wozniak is to launch a blockchain-focused company in the country. The firm, EFFORCE, was founded with Jacobo Visetti and aims to reduce energy consumption using blockchain technology. The savings made on energy costs will become profit for contributors.
Wozniak is best known as the co-founder and tech brains behind Apple but hasn’t actively worked for the tech giant since 1985. Since then he has worked mainly as a teacher and on entrepreneurial and charity projects in technology. Yesterday it was revealed that his newest venture, EFFORCE, will champion energy efficiency with blockchain.

“Blockchain will improve the way we use energy and lower energy consumption without changing our habits,” stated Wozniak.

Meanwhile, Visetti is the co-founder and CEO of AitherCO2, another environmentally-focused firm. It advises companies on meeting energy efficiency targets, such as EU rules on carbon emissions. Clients include airline companies such as Qatar Airways and Boeing, along with oil and gas giants Shell, British Petroleum, Total and Petronas.

EFFORCE appears to have planned an ICO last year but it looks like it was dropped.

Wozniak chose to found EFFORCE in Malta, which is known for being crypto-friendly. Last year, the jurisdiction passed three blockchain bills to accept and encourage the technology.

Using blockchain in the energy sector is no new idea; a similar project is run by the Energy Web Foundation, which shares affiliates such as Shell and Total with AitherCO2. Just last month, its public blockchain launched for cleaner, more efficient energy use. With a head start and over 100 diverse backers worldwide including GE and Siemens, the Energy Web might be a big competitor for EFFORCE. Not to mention other startups such as LO3 and Power Ledger.

Neither the author nor Ledger Insights team own EFFORCE tokens

Image Copyright: toxawww / BigStock Photo