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Paxful: fourth school opened thanks to Bitcoin
Paxful: fourth school opened thanks to Bitcoin
Bitcoin

Paxful: fourth school opened thanks to Bitcoin

By Marco Cavicchioli - 17 Sep 2020

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Paxful has announced the opening of the fourth school as part of its programme to bring quality educational centres to emerging countries. The aim is to open 100 schools

This new school is located in Nigeria, fully equipped with a solar-powered water well system and safety requirements associated with the COVID-19 emergency. 

In addition to the classrooms, Paxful will also provide the costs associated with running the school, including teachers’ and support staff salaries, electricity and water bills, as well as school supplies and uniforms for the students. It will also provide personal protective equipment for all, both teachers and students, including masks and hand sanitizers. 

The new school will be located in the Ankara Nandu community, Sanga Local, and will serve approximately 100-120 children aged between 3 and 6 years. Furthermore, in the evening it will also provide education for adults, providing assistance and additional education to hundreds of people.

Paxful’s school and the #BuiltWithBitcoin project

Paxful’s initiative is called #BuiltWithBitcoin, and started in 2017, together with partner Zam Zam Water, a humanitarian organization dedicated to eradicating poverty by providing clean and sustainable water and access to quality education. 

Donations can be made on builtwithbitcoin.org, which will be used both to help complete the new school in Nigeria and for further initiatives including Paxful’s Africa Fund for COVID-19, for which Paxful will donate $35,000.

The first school funded in this way was completed in December 2017, in Rwanda, and the second was completed in 2018, also in Rwanda. The third was built in Kenya in 2020.

Thanks to the #BuiltWithBitcoin initiative now more than 400 students have access to quality education, but the goal is to bring it to almost 15,000 young people across Africa, also providing work for almost 300 teachers. 

All these schools are equipped with water filtration systems, not only to supply the locals, but also to give them the opportunity to sell water to their local community at an affordable price. 

They are also equipped with solar panels to reduce electricity bills and circumvent external supply cuts. 

The CEO and co-founder of Paxful, Ray Youssef, said: 

“We chose this particular community because of the lack of necessary resources and limited school infrastructure. They are in dire need of quality learning spaces and this school is an honest representation of the impact bitcoin can have on societies as a whole, and more specifically, how it can enhance education”.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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