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Paxful to Build 100 Schools using Bitcoin in Africa

By Natalie Wu | February 21, 2019
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Paxful to Build 100 Schools using Bitcoin in Africa

Peer-to-peer Bitcoin marketplace Paxful originally has a social purpose that targets serving the unbanked and underprivileged. Now, its #BuiltWithBitcoin charity campaign has a new target to build 100 schools across Africa fully funded by cryptocurrency.

According to Paxful CEO Ray Youssef, two schools have already been built in Rwanda, reportedly in Kasebigege Village which is still recovering from the Rwandan genocide of 1994. Working with Zam Zam Water, Bitcoin was used to fund school construction. One is a nursery school for children aged between three to six. It has a farm to encourage sustainable agriculture for the whole village. The second school is a primary school for children between six to 15 years old.

A third school is already in development, and could be built in either Columbia, Ghana, Kenya, or Uganda.

“We are working to scale up the process to where we can build several schools at once in different countries at an even higher standard of education. The final goal is a school for gifted children surpassing the education given at top private schools. We believe this is the greatest boost to the emerging worlds possible, to invest in their young leaders. We are working to bring in bigger partners and that means even more transparency on all levels,” said Youssef.

Youssef has always dream of building schools. For him, using Bitcoin for social good is a game changer.

“We see our #BuiltWithBitcoin campaign as a way of giving back to the communities that need it the most to showcase how the power of a peer-to-peer currency like Bitcoin can reach people that need financial assistance,” he explained.

Founded in 2015, Paxful has grown to offer its users over 300 ways to pay for Bitcoins. The most popular choices include using gift cards from iTunes and Amazon, with other options like PayPal, Google Pay, Apple Pay, WeChat, and bank transfers.

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