Paxful, a global peer-to-peer bitcoin marketplace, announced today that they will be building a third school in its 100-school initiative to improve access to quality education centers to emerging markets throughout Africa.
The third school, which will come fully equipped with a state-of-the-art water well system, will be built in Mukalala Village in Machakos County in Kenya for children ages 3-6 years old and will kick off with a $30,000 donation from Paxful. The initiative is part of the broader programme #BuiltWithBitcoin that was created with the primary goal of promoting philanthropy and charity within the cryptocurrency industry.
“As cryptocurrency advances the financial freedoms of Africans and provides new and innovative ways for millions in the country to conduct business, we at Paxful wanted to take on a larger role to help them break free of the shackles of an unjust financial system,” said Artur Schaback, COO and co-founder of Paxful. “From helping Nigerians start a financial ecosystem with gift cards, to making remittance easy in Kenya, with our 100-school initiative #BuiltWithBitcoin we plan to continue to empower the African region to take control of their financial independence.”
Paxful’s #BuiltWithBitcoin initiative began in 2017 with partner Zam Zam Water, a humanitarian organization devoted to eradicating poverty by providing clean, sustainable water and access to quality education to villages across the globe. The first of the three schools was completed by representatives from both teams in December 2017 in Rwanda, while the second was completed in 2018 and also in Rwanda. The #BuiltWithBitcoin initiative now supports over 400 students. Through the 100-school plan, Paxful expects to bring education to nearly 15,000 young people throughout Africa while providing jobs to nearly 300 teachers.
“We recognize that availability of a good learning environment is an important player in Kenya’s education system. For this reason, we strive to create positive social change by empowering men, women, and children through education and opportunity,” said Yusuf Nessary, founder of Zam Zam Water. “We are beyond excited and grateful for the opportunity to build the third school within the #BuiltWithBitcoin initiative in Africa, and look forward to providing them 97 more.”
In addition to a $30,000 donation of its own, Paxful has enacted a call to action for the crypto community at large to become a part of its 100-school plan. Interested parties can donate BTC and each donation will correlate to a specific part of the schools’ completion including classrooms (3), a kitchen, solar power system, restrooms, and more.
“The benefits of cryptocurrency are often shadowed by clouds of negativity and speculation, said Ray Youssef CEO at Paxful. “At Paxful, it’s our mission to change this image and showcase all the good that can be done if we work together, beginning with the youth in the communities and building on this initiative in the near future. We are calling on the industry to help us!”