Efforce
Crypto Overview
Overview
Efforce is a blockchain-based energy efficiency platform co-founded by Steve Wozniak. The platform aims to democratize access to energy efficiency projects through blockchain technology. WOZX is the native token of the Efforce ecosystem.
Purpose and Utility
The intended purpose of WOZX is to facilitate energy efficiency projects. Token holders can use WOZX to contribute to energy efficiency projects and receive rewards based on the energy savings achieved. Companies can register their energy efficiency projects on the platform, and contributors can fund these projects using WOZX tokens.
Business Model Assessment
The business model involves legitimate exchange of value through energy efficiency improvements and does not inherently involve any prohibited activities. The platform aims to create real-world utility through energy savings and environmental benefits.
Real-World Adoption
Current adoption appears limited. While the platform has announced several partnerships and projects, verifiable on-chain data shows minimal active usage of the protocol for its intended purpose. The token primarily trades on cryptocurrency exchanges.
Development Activity
The project maintains an active development team and has made regular updates to its platform. However, the primary focus appears to be on exchange listings and marketing rather than expanding the energy efficiency marketplace.
Token Distribution
The token distribution includes allocations for the team, advisors, and early investors, with vesting periods in place. While a significant portion is held by the founding team, this is not unusual for utility tokens and does not inherently make it non-compliant.
Crypto Impact
To assign a comfort level investing in Efforce from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Efforce.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.