Paxful Invests in African Education, Plans to Build 100 Schools with Bitcoin
Paxful, one of the leading peer-to-peer bitcoin marketplaces, plans huge investments in Africa, targeting to improve the education sector. Currently, the exchange has already constructed two schools and is already on its third in Rwanda, which is funded by Bitcoin.
In an interview with Bitcoinist, a cryptocurrency news outlet, the CEO of Paxful Ray Youssef commented:
“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.”
Two Schools Already Completed
Through a partnership with Zam Zam Water, Paxful has already constructed two schools located in Kasebigenge, Rwanda.
The company’s decision to invest in the village came about after it found a partner who was well versed about the area, explaining that the residents were trying to rebuild their lives following the deadly Rwandan genocide in the 20s.
The first school is a nursery school built for kids between the ages of three to six. The school has three classrooms, a 15-000-liter water system, an irrigation system, and a farm around to encourage the residents to practice sustainable agriculture.
The second school is a primary-level school, targeting kids between the ages of six to 15. This one has six classrooms, a 35,000-liter water system, solar panels, and bathroom stalls. Speaking about the importance of investing in Education, Mr. Youssef noted that:
“Education is essential in the sustenance of a community… 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.”
The Third School
The third school is yet to be built and is already in the planning level. The team has not yet decided where it will be located, but it will either be in Columbia, Uganda, Ghana, or Kenya.
Its construction will commence in the next quarter after partnerships are finalized, with funds for the project being collected from bitcoin investors through a scheduled marketing campaign.
By investing in Education, Paxful has taken the right step to empower young Africans to achieve their dreams. Funding the projects using bitcoin is a smart move to foster its adoption across the globe.