Paxful, one of the largest peer-to-peer (P2P) bitcoin marketplaces in the world, is once again demonstrating how the cryptocurrency community can contribute to good causes around the world. The company has announced that the second school it has helped to finance in Rwanda has now been completed.
Giving Kids a Crucial Stepping Stone
This project was funded entirely through cryptocurrency donations as a part of Paxful’s #BuiltWithBitcoin initiative, with over $100,000 raised in BTC, BCH, ETH, LTC and DASH to support construction. It is said to be the first primary school in the area that caters to kids between the ages of 6 to 15. The facility contains six classrooms, a cafeteria, bathroom stalls, solar panels and a 35,000-liter water well system. It was completed in partnership with the Zam Zam Water charity and will employ six full-time teachers.
“Having proper education centers 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,” said Yusuf A. Nessary, president and founder of Zam Zam Water. “We are beyond thrilled to have partnered with Paxful in order to provide education for (the) next generation and beyond.”
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Bitcoin Is More Than a Speculative Tool
Paxful, which recently reported that its monthly bitcoin volume in Africa has reached about $65 million, launched the #BuiltWithBitcoin program last year. It started by donating $50,000 in bitcoin to build its first nursery school in Rwanda, with plans to fund and build 100 schools across Africa. Earlier this year, the company also granted academic scholarships to a couple of female Afghan refugees in the U.S.
“We encourage the cryptocurrency sector to contribute more to humanitarian projects. The #BuiltWithBitcoin initiative is an example of bitcoin being used as more than a speculative tool, but a testament to the usefulness of cryptocurrency,” said Ray Youseff, the CEO and co-founder of Paxful. “To date, we have built two schools — a nursery and a primary school in Rwanda, Africa — and provided scholarships to Afghan refugees, and plan to continue these philanthropic ventures.”
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