Arun ShankarPaxful, a global leader in peer-to-peer finance, announced the latest chapter in its #BuiltWithBitcoin charitable initiative: the construction of a school in Rwanda for students aged 6-15. Located in the Nyamata Sector of Rwanda’s Bugesera District, the school will supplement Paxful’s first bitcoin-funded school, which launched in the same district earlier this year and serves children aged 3-6.
Continuing its successful partnership with humanitarian organisation Zam Zam Water, Paxful jumpstarted the project with a $20,000 donation. Total construction is estimated to cost $100,000, with the balance to be collected through an online crowdfunding campaign. Donations can be made via Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash. Paxful will match all community donations until the $100,000 goal is met.
“The #BuiltWithBitcoin initiative is a testament to the power of cryptocurrency,” said Ray Youssef, CEO of Paxful. “We firmly believe that it can improve lives and make the world a better place.”
The new school is expected to be almost double the size of the first, with six classrooms and six full-time teachers serving up to 300 primary school students. It will include a cafeteria, a 35,000-liter potable water well, solar panels for sustainability, and many other resources for the education and enjoyment of students, staff, and faculty.
“Education is a crucial tool for helping those in developing nations increase their standard of living, so we are very pleased to partner with Paxful to serve these bright young students,” said Yusuf Nessary, Founder and President of Zam Zam. “This is only a small glimpse into what we can and will continue to do with the power of cryptocurrency.”
Paxful began the #BuiltwithBitcoin initiative 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.
Paxful is a peer-to-peer marketplace built on open source bitcoin and blockchain technology. It enables anyone in the world to buy, sell and accept bitcoin instantly. Paxful’s platform has 1 million monthly active users globally and offers 300+ payment methods. Some of the most popular methods include PayPal, Western Union, Amazon Gift Cards, and iTunes Gift Cards.
Zam Zam is a humanitarian organisation devoted to playing a vital role in eradicating poverty by providing clean, sustainable water, access to quality education, and more equitable opportunities to villages across the globe.
Key takeaways
- The new school will supplement Paxful’s first bitcoin-funded school, launched in the same district this year.
- Continuing its partnership with Zam Zam Water, Paxful jumpstarted the project with a $20,000 donation.
- Total construction is estimated to cost $100,000, with balance to be collected through crowdfunding campaign.
- Donations made via Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash.
- Paxful will match all community donations until $100,000 goal is met.
