Bitcoin Builds A Rwanda School, Thanks To Paxful

Blockchain, Innovation, Investing, News | December 3, 2018 By:

Paxful, a peer-to-peer bitcoin marketplace, has completed building a second school in Rwanda built entirely through bitcoin as a part of their initiative #BuiltwithBitcoin.

The new location was completed in partnership with humanitarian organization Zam Zam Water and was funded by over $100,000 in bitcoin, Bitcoin Cash, ether, Litecoin, and Dash donations.

The second school Paxful built is the first primary school in the entire area dedicated to students between the ages of 6-15. The school consists of six classrooms, six full-time teachers, cafeteria, bathroom stalls, solar panels, and 35,000L water well system. The curriculum and teachers will be provided by educational officials at the local level.

Paxful’s #BuiltwithBitcoin initiative began in 2017 to promote philanthropy and charity within the cryptocurrency industry. The company plans to construct 100 African schools, as well as donate money for wells and other projects. The second school comes after the success of the first school which was completed in December 2017 and serves 110 young students between the ages of 3-6.

“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.

“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 next generation and beyond.”

Paxful’s mission is to bring financial inclusion to the underbanked and unbanked through peer-to-peer finance. Every user gets a free digital wallet that lets them send, receive, and store bitcoin.