Dec 2020
I think I am beginning to get it -- and it's blowing my mind.
I bought some Bitcoin a while ago without really understanding it.
Now I'm studying WOZX -- and I have bought some - and through Steve Wozniak's new venture
efforce.io, I can begin to see how the world is about to undergo dramatic changes.
Companies earn WOZX coins by generating energy savings through smart contracts.
I don't fully understand smart contracts yet - they appear to be automatically triggered transactions.
There are two ways to acquire WOZX; earn them or buy them.
(For contrast, there are also two ways to acquire gold, dig it up or buy it.)
Right now, the WOZX coin costs about $3. This appears to be going up as people learn about, and get excited about the idea.
Now, if a company generates energy savings they earn (for example) 100 WOZX ($3 ea) coins worth $300. As traders who support this idea and trust Steve Wozinak bid up the value to $10, energy saving companies now get $1000 for their efforts.
Energy saving becomes more valuable because people support the idea.
In the current model, if people like the idea of energy savings, they need to elect governments that like energy savings, who then create tax incentives for companies to create energy saving devices. Alternately, people can find startups and invest in them by buying stocks -- or perhaps invest in managed energy saving funds from the big banks.
Rather than trusting big banks, governments, or Wall Street, people can now buy ALTCOINS like WOZX which will go up in value as people support, and invest in energy savings.
Does WOZX have it's own blockchain or does it use the Etherium Blockchain?
Like Tim Berners-Lee said about his invention, "The internet is paper."
The blockchain is paper as well, but it's a special paper that, once written on, cannot be modified or erased. It's secure paper. Blockchain is a secure communications platform... secure because it's distributed.
Is the DNS Name Server System also secure because it's distributed?
ALTCOINS are like websites. Many are scams.
In the early days of the Internet, in one of my presentations I said:
"There was a time when, if your business had a website people assumed you were a scam. Now, if you don't have a website people assume you're not a business."
Similarly, many (most?) Altcoins are get-rich-quick schemes. Some, though, appear to be backed by trusted entities with viable business models. WOZX seems like one of these.
WOZX can currently only be bought here:
BithumbPro.
The process is not painless, but it's worth it -- they have a live chat which is surprisingly helpful.
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