Crypto Marketplace Paxful Completes Fourth School In Nigeria #BuiltWithBitcoin
Peer-to-peer (P2P) bitcoin marketplace Paxful has announced that it has broken ground on the fourth school in its 100-school initiative to bring quality education centers to emerging countries.
Paxful is crypto trading platform that aims to bring financial inclusion to the underbanked and unbanked through P2P finance. Every customer gets a free digital wallet that lets them send, receive, and store bitcoin. They’re cutting out the middleman with their secure escrow service and provide help to their customers with a 24/7 customer support system.
In 2017, Paxful partnered with 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, to start the #BuiltwithBitcoin initiative. The first school was completed by representatives from both teams in December 2017 in Rwanda, while the second was completed in 2018, also in Rwanda. The third school was built in 2020 in Kenya.
In a press release, Paxful said that the #BuiltwithBitcoin initiative has built its fourth school, which is located in Nigeria. Just like the first three schools, the school in Nigeria will come with water filtration systems, not just to supply the locals, but also to give them an opportunity to sell the water to their local community at a very affordable price. The schools are also equipped with solar panels to cut spends on electricity and bypass regular electricity cuts while keeping the schools sustainable. In response to safety requirements associated with COVID-19, the company will also provide Personal Protective Equipment (PPE) for all teachers and students including facemasks and hand sanitizers.
“The #BuiltWithBitcoin initiative now supports over 400 students,” Paxful said. “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. The fourth school, which will be located in the Ankara Nandu community of Sanga Local in Nigeria will serve an estimated 100-120 children between the ages of 3-6 years old. The school will also double as an adult learning space in the evenings assisting in providing hundreds of people with a supplemental education.”
Ray Youssef, CEO, and co-founder of Paxful, said that they 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,” Youssef said.
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