Apple co-founder Steve Wozniak is supporting a new cryptocurrency startup that’s designed to cut greenhouse gas emissions and help save the environment.
Steve Wozniak Wants to Save the Planet
One of the big problems being faced by cryptocurrency miners everywhere is that the extraction process is allegedly boosting carbon gas production and polluting the atmosphere, thereby contributing to climate change. For example, it has been said that mining bitcoin emits as much carbon as the city of Las Vegas, Nevada. It’s also been said that more energy is required to mine bitcoin than to grant electricity to every home in Iceland.
As a result, many people are looking for solutions that could potentially make the cryptocurrency industry cleaner and more energy efficient. Wozniak is now taking this task upon himself and supporting a crypto firm known as WOZX, which has been launched by Efforce, an energy-efficient crowdfunding enterprise. The asset will allow users to garner shares in various energy-saving companies and projects across the globe.
According to Wozniak, the energy efficiency market is presently worth more than $250 billion, and anyone who holds WOZX can be a part of lasting change.
Thus far, many companies and individuals are jumping aboard the energy-saving bandwagon and looking to invest in the new venture. WOZX has garnered approximately $18 million from various investors, and the currency has reacted positively to the support its getting. The currency initially began trading for roughly 22 cents per unit. However, at the time of writing, one token of WOZX is trading for more than $1.50.
According to Efforce co-founder Andrea Castiglione, when users garner units of WOZX, they are getting profits from attached energy companies that supply them with what the company refers to as “energy credits.” These credits can then be used to pay for electricity bills and to cover other energy-related payments, or they can be turned in to Efforce for fiat currency.
Castiglione believes the possibilities are endless with the present system. In a recent interview, the co-founder explains that users can garner as much as 20 percent back from their investments, though traders should always be wary regarding how much they put in and participate given that not every energy project will be a done deal.
Be Careful When It Comes to Crypto
According to Castiglione, there are various risks that come with the company’s methods of operation, a big one being that cryptocurrency is never fully set, and the many assets are typically prone to price swings or market factors that can affect current prices:
We can say the investment returns are predictable, but there is some risk involved.
Wozniak, however, doesn’t appear all that worried, and has often pledged his belief in cryptocurrency in the past, even going so far as to say that he hopes bitcoin would eventually become a global currency.