Paxful To Build Third School In Rwanda

By Rishma Banerjee

Paxful, a peer-to-peer Bitcoin marketplace that connects buyers with sellers, is all set to build a third school funded by Bitcoin in Rwanda, Africa. It is a part of the platform’s #BuiltWithBitcoin initiative which has already succeeded in building two schools partnering with Zam Zam Water.

The first two schools have been built in the Kasebigege Village in Rwanda, next to each other. The decision to build here followed after the team found a partner on the ground who explained how the residents in the village were rebuilding their lives after the Rwandan genocide in the 90s.

Ray Youssef, CEO of Paxful said in an interview,

“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.”

“Rwanda is the heart of Africa and the people’s resilience showed how forgiveness can heal a community… These people need to be given an opportunity more than anything. And they embrace the chance to have the exact change that they need.” he added.

The first school is a nursery school for children between the ages of three to six. It has three classrooms, a portable irrigation system with four toilets, and a 15,000-liter water system. There is also a farm to encourage sustainable agriculture for the whole village.

The second school is a primary school for children between six to 15 years of age. It has six classrooms, a cafeteria, bathroom stalls, solar panels, and a 35,000-liter water system.

Paxful also provides books, uniforms, and health insurance and the educators also get a proper salary.

The third school is already in the planning stages, with the team deciding upon the location and finalizing partnerships.  The construction is anticipated to start in the next quarter. The funds for the same will be collected from Bitcoin investors through marketing campaigns.

Plans are already underway to get school number three built as they finalize the location and talk with partners. The anticipated start of construction could be as soon as the next quarter, with Bitcoin coming from people who donate through their marketing campaigns. The platform then matches each donation in order to finish construction.

Youssef’s aim is to build 100 schools in Africa that are fully funded by cryptocurrency. Colombia, Ghana, Kenya, and Uganda are all candidates for the next school.

With the team focusing on Africa to continue building more schools, Paxful is trying to bring about change on how the continent’s people access to finance and education, one school at a time.