On the face of it, Changeangel.io’s business model is pretty straightforward. It facilitates crypto to crypto, wallet to wallet swaps. Yet, there is something much bigger afoot at the company that is also known as the Swap Exchange for Social Good.
The company is on a mission to rally support for sustainable development of non-Initial Coin Offering (ICO) open source, decentralized blockchain – with the emphasis on non-ICO. Every time a customer buys their favourite crypto through the Changeangel.io site, the organization donates a portion of the swap revenue to non-profit blockchain development.
“When people make transactions on our site, they are also helping to support their favourite cryptocurrency’s blockchain development,” said Ben Convery, COO. “What many people may not realize is that while commercial blockchain development is flourishing, some open source, non-ICO, mineable blockchains for cryptocurrencies are facing a shortage of resources – and developing at a slower pace.”
He explained that the core idea of an open source blockchain development system is its detachment from any financial incentives – an idea that has proven to not be viable for many expert coders who simply cannot work for free for a sustained amount of time. Today’s blockchain development requires servers, testers, bug fixers, and ongoing documentation along with software testing conducted over various devices. Legal fees are also a significant expense.
“To attract talent and retain dedicated coders, some financial incentive is important. We can provide that by donating to open source blockchain projects to make their systematic development possible,” he added. “It is our hope that other businesses will join our efforts so we can affect sustainable change.”
The company is currently donating a portion of its swap revenue to some open source blockchain projects listed in their platform to support their continued development. It also uses AntumID/Digi-ID as a secure login method – which is a DigiByte blockchain tech solution. Blockchain solutions are used to enhance Changeangel.io’s platform, develop new products and promote dApp integration as well.
Convery says that as Changeangel.io’s platform grows, so will the list of open-source non-profit blockchain projects it gives to. For more information go to Changeangel.io.
