Paxful, 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 organization 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 A. 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.