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Become a part of the energy efficient markets with EFFORCE

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The energy efficiency market has reached a value of $241 billion in the past 10 years. The term ‘energy efficiency’ refers to the ability of a physical system to obtain a given result through lower-efficiency systems. This also helps to increase the yield and thereby allows for saving energy and reducing operating costs.

Over 68% of the energy that is currently used in the world is not covered by an energy-efficient standard, in fact, the system within which it is used can be made more efficient. EFFORCE is an energy-saving trading platform that makes it easy for any economic entity to implement solutions on their energy systems.

EFFORCE solves the major issues faced by the energy efficiency market such as the initially high costs of accessing a complex energy-efficient system, the need for technical knowledge in order to monitor the energy savings that are achieved, the uncertainty on the payback period of the investments, and the inability of one of the parties in evaluating the actual achievable savings.

What is EFFORCE?

EFFORCE is a blockchain-based energy-saving trading platform that brings together those who want to improve the energy efficiency of their buildings and industrial processes along with a pool of contributors who are interested in being repaid in tokens. These tokens represent the energy savings that are achieved by efficiency improvement projects.

EFFORCE aims to make the energy efficiency market accessible for everyone alike and link financial partners with those in need of investments for improving their energy efficiency. This is made possible through Energy Service Companies or E.S.Co.

Energy-saving that is financed by the contributor is tokenized and used or sold to energy-intensive consumers who can thus stop paying their bills.

How does it work?

The EFFORCE system has 3 major elements that facilitate its working:

  1. Contributors: Contributors can take part in energy efficiency projects by acquiring tokenized future savings.
  2. Companies: On EFFORCE, companies get the benefit of energy efficiency improvements without having to pay any extra costs. The savings that come from this are written onto the blockchain in real-time.
  3. Blockchain: With the help of a smart contract, the resultant savings are redistributed to token holders and companies without any intermediaries depending on the exact consumption/savings data.

The EFFORCE token

WOZX is the native token of the EFFORCE platform. It has a total supply of 1,000,000,000 and is further divided into a 45% share for the private placement and a 20% share for the EFFORCE Ltd. Another 20% share is kept aside as an incentive for mining while the remaining 15% would go towards the ecosystem and consultants.

The WOZX token would work as the certificate of energy-saving project initiation and cooperation by savers and consumers with the platform. The token release will be as per the lock-up policy. It will also function as the privilege qualification of projects that pursue energy saving in a thoughtful manner. The token holders will get a chance to participate in the voting and general governance of the platform and contribute towards issues such as the redistribution of energy savings.

Final word

EFFORCE is the world’s first blockchain-based platform that is working to connect the dots between the demand and supply of energy efficiency investments. The platform makes it easy for anyone to make energy improvements and make changes by placing their request on the EFFORCE platform.

By giving everyone a chance to access energy efficiency measures, EFFORCE is working on saving energy and tokenizing it.

For more information on EFFORCE, please check out their official website and Twitter.

Disclaimer: This is a paid post and should not be treated as news/advice.

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.

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