Steve Wozniak's Blockchain Venture Reaches $950M In 13 Minutes

[Hydrogen]

What Happened: Steve Wozniak’s blockchain venture Efforce listed its cryptocurrency token on the HBTC exchange on Dec. 3. It reached “$950M in the first 13 minutes, 10 times the listing price,” according to a company press release.

The company says investors had given it a valuation of $80 million valuation in private sales.

Why It Matters: Wozniak first mentioned Efforce in July 2019 at the Delta Summit in Malta, according to  news publication The Malta Independent.

The company’s goal is to use blockchain to “improve the way we use energy and lower energy consumption without changing our habits,” Wozniak said at the summit.

Efforce plans to become a marketplace to help fund energy efficiency projects using blockchain. The projects will be able to get funded, getting crowd contributions from investors using Efforce's token WOZX.

The company is registered in Malta because the Apple co-founder said he had long wanted to invest in the region.

"It has been on my mind for decades. Like no other place in the world," he said.

https://www.benzinga.com/markets/cryptocurrency/20/12/18665855/steve-wozniaks-blockchain-venture-lists-cryptocurrency-token-reaches-950m-in-13-minutes

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Steve Wozniak founded a crypto coin to address climate change. Details yet to be announced. From press releases it sounds like a crowd funding campaign crossed with an altcoin. Offhand I don't remember anyone trying this before. For those who don't know who Wozniak is. He cofounded apple with Steve Jobs. Wozniak wrote the original apple PC operating system. Then designed and built the hardware. Steve Jobs was the sales, organizer and PR guy.

A crypto coin reaching near to $1 billion in market cap on day 1 could be a record. I don't know if this received much publicity. I think it could have potential.

[1714821154]

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[1714821154]

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[Quidat]

Steve Wozniak founded a crypto coin to address climate change. Details yet to be announced. From press releases it sounds like a crowd funding campaign crossed with an altcoin. Offhand I don't remember anyone trying this before. For those who don't know who Wozniak is. He cofounded apple with Steve Jobs. Wozniak wrote the original apple PC operating system. Then designed and built the hardware. Steve Jobs was the sales, organizer and PR guy.

A crypto coin reaching near to $1 billion in market cap on day 1 could be a record. I don't know if this received much publicity. I think it could have potential.

Thanks for the trivai about Wozniak yet i havent known that he's one of the co-founder of apple. Lets go back into the talks of that altcoin where it did able to get soo much support in a short span of time?
Not have checked out on whats its all about but basing off those numbers or demand then this one does really have the potential where investors do see this to be a revolutionary one which
might spark on future years to come specially that blockchain technology is really getting some recognition now as of this moment.Its somewhat anticipated that these founders will able to get that
sufficient support out of their current position or achievement that they had made which investors do presume out that this will become big.

[tabas]

I've been hearing of Steve since the a few years ago that he's a total support for bitcoin. And about the altcoin that he has launched, I've just heard of it I think a few weeks or a month ago. That's surprising that he had made his venture reach a near $1B within a few minutes.
This is historical and he has reputation that's being protected and trusted by most people after his success with Jobs in the Apple. Did anyone invest on Efforce? It's currently trading on a few exchanges but I see there's no other popular exchange except the few.
https://coinmarketcap.com/currencies/efforce/markets/

[Fortify]

It just goes to show that people are happy to blindly follow whatever their chosen celebrity is doing and the sort of cult of personality that exists around certain companies like Apple/Tesla. It probably makes little difference to Steve besides being a vanity project, but he can give the impression that it is somehow connected to Apple and will benefit in future from that ecosystem. There is so much money sloshing around at the moment, it will be interesting to see when monetary policy starts to tighten back up again - when will the money printing machines overheat?

[TimeTeller]

It just goes to show that people are happy to blindly follow whatever their chosen celebrity is doing and the sort of cult of personality that exists around certain companies like Apple/Tesla. It probably makes little difference to Steve besides being a vanity project, but he can give the impression that it is somehow connected to Apple and will benefit in future from that ecosystem. There is so much money sloshing around at the moment, it will be interesting to see when monetary policy starts to tighten back up again - when will the money printing machines overheat?

That's the impact of using the name to influence its reach in the market.
His project is actually great if they will follow-thru its mission.
So even if we say, he is capitalizing with his connection with Apple's creation, as long as he is true to his mission, then I have nothing against with the project.
They are aiming to fund energy-efficient projects and that will consequently, save energy expenses.
Let us see if they can implement this mission and be successful with this venture...

[dothebeats]

A good effort in trying to do something for the environment, especially if most government efforts on saving nature is practically ineffective at best, and those who did most of the initiatives and whatnot are non-government, non-profit organizations. I like the idea of Wozniak in creating a crowdfunding platform for such projects. We have been overconsuming and undercompensating for decades, and people with the idea to solve this are usually the ones with no money to realize their projects. At its core, it's just a crowdfunding venture aiming to invest on entities that deals with lower energy consumption, but using the 'blockchain' hype is really something that has caught most ventures--new or old--today. Perhaps there's more to Efforce than just crowdfunding that could actually be significant to its blockchain identity.

The company is registered in Malta because the Apple co-founder said he had long wanted to invest in the region.

"It has been on my mind for decades. Like no other place in the world," he said.

https://www.benzinga.com/markets/cryptocurrency/20/12/18665855/steve-wozniaks-blockchain-venture-lists-cryptocurrency-token-reaches-950m-in-13-minutes

And also because Malta isn't strict about such company/venture structure that integrates cryptocurrencies so not much legal gymnastics involved

[Lorence.xD]

It just goes to show that people are happy to blindly follow whatever their chosen celebrity is doing and the sort of cult of personality that exists around certain companies like Apple/Tesla. It probably makes little difference to Steve besides being a vanity project, but he can give the impression that it is somehow connected to Apple and will benefit in future from that ecosystem. There is so much money sloshing around at the moment, it will be interesting to see when monetary policy starts to tighten back up again - when will the money printing machines overheat?

Steve Wozniak is not just a celebrity though, he is a tech giant, but I do agree with you about fanatics, good thing about these fanatics though is they are the reason that this products are booming in the market, if you are on a business perspective, I think you will appreciate it more that someone blindly follows your product. If he has the works to back up what he is saying right now then I do not see a problem about it.

Regarding the speed of the increase in listing price, it goes to show that when you put someone that has a prestige like Steve, it will be hotcakes for the market.

[Josefjix]

The buyer's of the token based their ideology on the earlier days of Apple Inc and how it rose to stardom. A whopping $950M in sales in a day is just too tremendous and the exchange is quite very unlikely to bring such a realistic figures. Steve Jobs could purchase half of the sales, they have too many partners in Apple Inc, I hope the raised funds are used wisely for the needed goals.

[so98nn]

Efforce, never heard about it before this post. It's good that Wozniak’s vision is far better than usual projects that are seen over the blockchain. However, this kind of project needs to be backed up by institutional investors who are willing to do charity. Of course, if Wozniak’s  wants to have energy efficient solutions around the globe then the funding needed for such projects would be off the chart.

The guy seriously looks efficient in the project management considering he was actual founder of Apple systems (software to hardware). Wozniak’s will surely fulfil his vision of making a world better place if they receive excellent community support. They should drive campaigns outside Malta as well to market the same.

[davis196]

A crowdfunding campaign combined with an altcoin?
Hmmm,sounds like a new ICO token to me... Anyway,this project will be way more legit than most of the 2017 Initial Coin Offerings.Steve Wozniak has a great reputation and that's why this project is valued so high.
I wonder how the blockchain will be used to lower energy consumption?Perhaps every household will become a node in a blockchain and all the nodes inside that blockchain will communicate with each other and find "energy leaks" that have to be stopped.I'm not an expect,this is just a stupid assumption.

[RealMalatesta]

First of all let's get rid of the notion that Wozniak "long wanted to invest in the region" and made the company registered in Malta for that purposes. He did that because the regulations are lax there and taxes are not high, he just wanted to basically have a lot more money and he wanted to get this done quickly without any legal battle. Do you really think Libra would have taken this long to publish if facebook wanted to register it in Malta?

It would have been a thing already, and when people of certain nations started to use it, everyone else will want to spend more time on it as well and they would pressure their nations to get it listed there too. Wozniak is a smart person, I have always said that Wozniak was the founder of Apple and Steve Jobs was actually his first employee instead of partner, but he is not going to get something huge like that with this project.

[Psynthax]

What I amazed most is not how fast this crypto founded by Steve Wozniak has grown but how it's gonna address the climate change, considering that the crypto itself grows so significantly and reached that much of market cap, I guess the contribution of this coin towards addressing climate change gonna be game changer  in the future for the imminent problem we have since the industrial revolution begins.

This is definitely more effective way than just making some parade or shouting about climate change nonstop 24/7.

[Wind_FURY]

Steve Wozniak founded a crypto coin to address climate change. Details yet to be announced. From press releases it sounds like a crowd funding campaign crossed with an altcoin. Offhand I don't remember anyone trying this before. For those who don't know who Wozniak is. He cofounded apple with Steve Jobs. Wozniak wrote the original apple PC operating system. Then designed and built the hardware. Steve Jobs was the sales, organizer and PR guy.

A crypto coin reaching near to $1 billion in market cap on day 1 could be a record. I don't know if this received much publicity. I think it could have potential.

Thanks for the trivai about Wozniak yet i havent known that he's one of the co-founder of apple. Lets go back into the talks of that altcoin where it did able to get soo much support in a short span of time?
Not have checked out on whats its all about but basing off those numbers or demand then this one does really have the potential where investors do see this to be a revolutionary one which
might spark on future years to come specially that blockchain technology is really getting some recognition now as of this moment.Its somewhat anticipated that these founders will able to get that
sufficient support out of their current position or achievement that they had made which investors do presume out that this will become big.

It's an old trick. There were rich investors who might have, that time, known about the ICO in advance before it actually started. Almost 1 billion dollars in 13 minutes? Do you believe there are millions of plebs who would invest their money in an ICO during a pandemic?

[hatshepsut93]

A shitcoin is still a shitcoin even if it comes from a successful inventor/entrepreneur. What problem does this project try to solve? Are green energy projects suffering from the lack of funding? I don't believe in that, some countries have already producing more green energy than from fossil fuels, and everyone understands that this is the future. And even if there was such problem, how does a database going to solve it?

[Lucius]

The same Steve Wozniak that some kid robbed for $70 000 in BTC?

This is just proof that there are an unlimited number of naive people in the world who will buy anything, only if it is nicely packaged and well presented. I wouldn’t be at all surprised if most of the money was pumped into this token by the owner himself - and now the story is selling as a successful project. Let's see what will happen to this token in a year, will anyone remember it at all?

[azarharus]

Steve Wozniak founded a crypto coin to address climate change. Details yet to be announced. From press releases it sounds like a crowd funding campaign crossed with an altcoin. Offhand I don't remember anyone trying this before. For those who don't know who Wozniak is. He cofounded apple with Steve Jobs. Wozniak wrote the original apple PC operating system. Then designed and built the hardware. Steve Jobs was the sales, organizer and PR guy.
A crypto coin reaching near to $1 billion in market cap on day 1 could be a record. I don't know if this received much publicity. I think it could have potential.

To be honest, he is one of the few people on this whole planet who could possibly pull this off.
Anyway, lets not neglect the fact that it is happening also because crypto grew a lot and now we can witness things like this.
Crypto will blow even bigger next year when current economy is going to be smashed with weight of this year's debt.

[TheGreatPython]

It was probably Wozniaks name that got this much attention and not the project. When you are starting a project and can convince other people as well, you are going to get a lot of money invested, specially if that someone is Steve Wozniak level, this dude is king of computer creation, all bill gates and steve jobs aside this dude is top 5 without a doubt in the world of computers, so getting a backing from this guy is not like the time Akon invested and promoted some coin himself, that was for all money and Akon is not a tech guy, Woz on the other hand is a person who is at the top of the list so getting him into your board would mean that you are doing something awesome without a doubt and others invest into that idea alone. Do not give me ANY detail, prove me that Woz is part of the project and I do not need to know anything about the project, not even the name and I would invest too.

[vaultman]

It is interesting to know his true motive for creating this token. Is the main goal - the desire to profit from your project or does this token actually have some more serious meaning. On the other hand, many billionaires are no longer interested in money, but they are interested in the future of their children, and since the planet's population is constantly growing, which has a bad effect on the planet's ecology, they are now very worried about it.

[Sirait]

A shitcoin is still a shitcoin even if it comes from a successful inventor/entrepreneur. What problem does this project try to solve? Are green energy projects suffering from the lack of funding? I don't believe in that, some countries have already producing more green energy than from fossil fuels, and everyone understands that this is the future. And even if there was such problem, how does a database going to solve it?

^ this is what happens in the field *shitcoin is still shitcoin*. So far there have been hundreds of projects using the green energy concept, but none of them have succeeded. This reason makes me doubt projects that use the green energy concept.

[BigBoy89]

This is the power of the Name.

I bet that most of the people bought blindly just because of Wozniak's involvement. Now things are cooling off. I may even consider if drops to x2-x3 IEO.