Efforce is the revolutionary spin-off business of a fast-growing financial institution AitherCO2 which was started 11 years ago. Over this past decade the team focused its attention on all sides of Energy and Carbon Trading. Without any outside investors, the business grew organically to a staggering $ 240M in annual revenue.
Efforce is a multi-party ecosystem which brings together Energy Service Companies (ESCOs), Projects and Contributors. Projects are the ultimate beneficiaries of the improvements. Companies across the world will cut their energy consumption and as a consequence their Carbon footprint. ESCOs are licensed engineering and Construction companies. They propose projects that are listed on our platform, and after financing is completed from the crowd, they perform the engineering/construction improvement. Contributors could be anyone from anywhere with any ticket size. This is the crowd component which will allow us to break the geographical barriers and bring capital to Projects while benefiting from the Savings generated.
We consider the Efforce platform to be closer to a marketplace. It creates a win-win-win model for all the participants in the ecosystem.
To some extent you could certainly associate it to a crowdfunding tool given the contributors’ role in the financing of Energy Efficiency projects; however, the dynamic participation model deriving from a tradable token creates a free market structure where opportunities can turn into usable credits. Our main goal is to effectively reduce energy consumption without changing people’s habits. By doing so, businesses globally and indirectly reduce their carbon emissions in the atmosphere.
Absolutely not. In order to understand this point we need to consider a few crucial facts. The world's population has already topped 7.8 billion individuals. Each individual is increasing exponentially their energy Need (we all have multiple devices which continuously need more energy to run).
Investing in Renewables means we are chasing the world's fast growing energy demand which is not sustainable as a long term solution. On the other side, Efficiency means to improve the existing infrastructure in order to lower the energy consumption. There are no limits to the amount of efficiency improvements a given system can undergo, and thanks to the use of Blockchain we will be making everything totally transparent to all the stakeholders in the system.
Just think about the most intuitive example of efficiency we can perform in our own household. We all pay electricity bills at the end of the month. These bills depend on how much energy (in kilowatt) we consume. If we perform our household audit, we can see that there are about 50 incandescent lightbulbs of 100 W each. If we change those bulbs with a more efficient (in terms of energetic requirement) 10 W LED light, we will heavily reduce our consumption of energy, thus reducing our energy bill at the end of the month.
If you now stretch this simple example to a shopping mall which needs full "relamping" you can see that the business owner might not be able to find credit so easily to finance the purchasing of the materials especially if the project is located in a poorer and underserved area of the world. That's why ESCO's and the Efforce Community are needed.
Yes, and in fact we are already doing this professionally, and like us, a growing number of ESCOs worldwide.
You could visit the International Energy Agency which is an independent intergovernmental body which monitors the energy and efficiency market worldwide.
Standard processes involve, at present, several steps which are time consuming and costly. They reduce the number of potential efficiency projects that can benefit from fractionalized Energy Performance Contract (EPC) contracts.
With the tokenization of the savings instead, the process is reduced from 4 or 5 months to a few days. The costs are reduced on average by 10X.
The tokenization of energy savings enables the fractionalization and transferability of the savings generated transforming what used to be long term contracts into a tradable commodity.
Efficiency improvement is an important aspect of cost reduction. Blockchain can help reduce the number of actors involved in the process. Not only does it facilitate immediate distribution (e.g. smart contracts can handle complex rules for competitive bidding), it can also reduce reconciliation activities (e.g. cryptographic signatures remove the need for anti-fraud or error checks), and improve settlements (e.g. from 2-3 day settlement period to instant).
On average, $250 Billion is invested annually with a growth of 10% per annum.
No we did not.
EFFORCE current token model is the culmination of more than two years of iterations. In our earliest model we thought it would be optimal to bring the token to market through an ICO process; however, we decided to put everything on hold and go back to the drawing board in order to build the ideal go to market strategy for the creation of a thriving ecosystem.
When designing the tokeneconomics of Efforce, we had to consider all the external variables which could weaken a nascent network and hurt a perfectly functional business. Having Woz as Co-Founder is also a factor which might push the general public towards a "pump and dump" scenario out of pure FOMO (fear of missing out).
In essence we wanted people to confidently understand our existing business model, our track record and most importantly the mission driving our group. Too many people classify us as a "green token" like others before us, but the difference is substantial.
Networks need time to form and grow healthy. By hand picking our private sale investors who will be vesting their tokens over 1 to 3 years we ensure to minimize the impact of the wild crowd effect. Education is the primary form of preservation, and we will ensure that, over time, all our ecosystem participants understand the impact of this opportunity.
From the total of 1 Billion WOZX minted, the remaining 55% is divided as follows : 20% is the Team's allocation which is going to be vested over a period of 20 years, then another 15% to the Ecosystem and consultants which unlocks at a maximum rate of 1.5% per month, and finally the 20% for (Liquidity) Mining Incentive which unlocks over 10 years, 50M WOZX in the first year, 25M in the second and then 20M every year after that until the tenth year.
A MWOZ is a digitized version of Megawatts of Energy Saved which we credit to contributors as a reward of their participation in the project financing pool.
Once a given Energy Efficiency Project has been listed on the EFFORCE platform, it will be possible for the crowd to contribute to the liquidity pool to finance the infrastructure improvement.
WOZX is designed to be staked by contributors in the chosen project pool to farm megawatts.
MWOZ will be distributed over time as a form of Credit— an internal reward system.
Once these credits (which effectively digitize the energy saved) are accrued on the Efforce wallet, Contributors will be able to use these credits to do various things inside the marketplace from offsetting their bills to simply reselling MWOZ back to the market. This is the true commoditization of energy savings.
Digitized megawatts of energy saved. We called them MegaWoz (MWoz)
As we have proven in the first month out of stealth with three core listings, our team will keep rolling out more exchanges over time in order to guarantee healthy growth of the network and access points into the ecosystem.
Yes! Regardless of geography or your energy provider you will be able to use your MWOZ to offset your bills directly from the Efforce platform. This feature is to be released H2 , 2021.
MegaWOZ truly are the first commoditized version of Energy Savings enabling everyone to trade negative energy derived from increased efficiency. Tradability is at the base of any commodity and MWOZ are no exception, for this reason our development efforts are going to culminate in the release of a complete ecosystem comprehending a decentralized marketplace for the exchange of MWOZ.
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At launch of the first pool, it will not be possible, however, the pure Staking functionality will be activated following the closing of the Contribution phase for the Genesis Pool.
Pre-Listing Auditing and Selection Phase, Contribution Phase , Implementation Phase , Farming Phase
This phase requires industrial upgrades and depending on the specific project, this phase might span between 2 - 6 months.