EFFORCE, founded by Apple’s co-founder Steve Wozniak, said that the listing of its WOZX token on the exchange has increased its market value tenfold to $950 million, the New York Post reports.
On Thursday, 3 December, the coin began trading on the HBTC crypt currency exchange. From the initial price of $0.1 WOZX rose to more than $1.42 at its peak. At the time of writing, token quotes are around $1.26.
WOZX is expected to list next week on the South Bitcoin Up review Korean platform Bithumb.
EFFORCE aims to facilitate the financing of energy efficiency projects with the help of a blockbuster and crypto.
„We created EFFORCE to be the first decentralised platform that allows everyone to participate in and benefit financially from global energy efficiency projects as well as to make significant changes to the environment,“ said Wozniak.
Investors can buy company tokens and use them to participate in projects on its platform. EFFORCE monitors their energy savings and returns them to investors in the form of an energy credit that can be used or sold.
According to co-founder Jacopo Vizetti, it is difficult for many small businesses to find the means to implement energy efficient solutions that will save them money in the long term.
„EFFORCE allows business owners to safely register their energy modernisation project online and obtain financing from all types of investors around the world,“ he emphasised.
Wozniak was among the co-founders of EFFORCE last year. According to the firm’s statement, EFFORCE spent most of the past time creating the architecture of its block-platform and servicing the first batch of test projects.