P2P Bitcoin Marketplace Paxful Builds Second School in Africa with Crypto
Paxful has announced the completion of its second built school in Rwanda, funded entirely with crypto as part of their initiative #BuiltwithBitcoin.
The Delaware-based peer-to-peer (P2P) Bitcoin marketplace built the school in partnership with humanitarian organisation Zam Zam Water, which saw over $100,000 in Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Dash donations.
The marketplace’s #BuiltwithBitcoin initiative started in 2017 to promote how crypto can be used within the charity industry. During the bull run last December when Bitcoin initially reached $15,000 before continuing on to within touching distance of $20,000, Paxful built their first school and nursery with crypto, serving 110 young children between the ages of three to six.
Speaking to CoinJournal, Ray Youseff, CEO and co-founder of Paxful, said they knew they were doing something right when the villagers welcomed the team back with warmth and kindness.
“In my recent visit to the village, I saw the children of the nursery school counting, they were singing and dancing and playing with toys,” he added. “I met an awesome teacher who was truly engaged with the students. It felt great to see that the nursery school we help build last year is being utilised – the children wearing their uniforms, lining up to go to class, it was an unforgettable moment.”
In a blog from December, Paxful noted that the goal is to build 100 schools around Africa, all funded by Bitcoin. In its continued pledge to reach that goal, it has completed its second school. As the first primary school for the company, the school is for those aged between six and 15, consisting of six classrooms, six full-time teachers, a cafeteria, bathroom stalls, solar panels, and a 35,000 litre water well system.
Speaking of the partnership, Yusuf A. Nessary, president and founder of Zam Zam Water, said:
“Having proper education centres is fundamental in moving countries like Rwanda forward, while also increasing their standard of living. Education is the crucial stepping stone in serving people in developing nations improving their quality of life.”
Paxful have yet to start work on their next school, with Youseff stating that they will be focusing on sustaining the two schools they already have. This includes ensuring they have solar power, health assistance, more uniforms, toys, and a bigger water well system to help irrigation for a garden near the schools to supply food for the children, he added.
Despite the bear market for most of 2018, Youseff said that while speculation continues and the price is what people talk about, the platform is seeing people turn to “#P2PFinance and they don’t care about the price.”
“We are thankful for the people who donated to this cause,” he added. “Social good is the 7th true use case of crypto, and while many say they want to help Africa, there are few who deliver. This is just two out of the 100 we want to build. I believe a lot of people will be on board as long as we are helping.”
Aside from raising funds in crypto to build schools in Africa, Paxful also provided a scholarship to Afghan refugees earlier this year and gave assistance to food drives in Venezuela, all through Bitcoin and #P2PFinance.
“We want to continue doing different things, to reach parts of the world that needs help the most, and we’re open to working with people who want to do the same,” Youseff added.