This week, Paxful, one of the biggest peer-to-peer (P2P) bitcoin marketplaces in the world, declared the finish of a new school in Rwanda. The school was financed entirely with bitcoin, as a part of their #BuiltwithBitcoin initiative, and is the second school built in the country through this project.
The team plans to build 100 schools in total, all throughout the continent of Africa.
The new school was a $100,000 project and was built with the help of Zam Zam Water, a local philanthropic organization. The money was raised through a series of Bitcoin donations.
The Paxful school is the first primary school in the area, and has 6 classrooms, with 6 full-time teachers, a cafeteria, bathroom stalls, solar panels, and a 35,000L water well system
Ray Youseff, the CEO and co-founder of Paxful, announced that they are providing scholarships as well as building schools. Youseff said:
“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 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.”Ray Youseff – C.E.O & Co-Founder Paxful.com
Paxful is a good example of a Bitcoin-based company who gives back to the community. Paxful also had a great year to fund their charitable forces, despite the bear market.