SEPTEMBER 17, 2020 — Paxful, a global peer-to-peer bitcoin marketplace, announced today that they have broken ground on the fourth school in its 100-school initiative to bring quality education centers to emerging countries. The fourth school, located in Nigeria, will come fully equipped with a state-of-the-art solar-powered and water well system, and in response to safety requirements associated with COVID-19, Paxful will also provide Personal Protective Equipment for all teachers and students including facemasks and hand sanitizers.
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 four schools was completed by representatives from both teams in December 2017 in Rwanda, while the second was completed in 2018, also in Rwanda, while the third school was built in 2020 in Kenya.
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. 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.
The city is home to 4,000 people and presently has only one school which serves as both primary and secondary schools.
All schools, including the newest location in Nigeria, 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. They are also equipped with solar panels to cut spends on electricity and bypass regular electricity cuts. Solar panels help the schools be more sustainable. Paxful covers all fees associated with running a school including teacher and support staff salaries, bills for electricity and water as well as school supplies and uniforms for the students.
“We chose this particular community because of the lack of necessary resources and limited school infrastructure,” says Ray Youssef, CEO, and co-founder of Paxful. “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.”
Donations are accepted on a rolling bases on builtwithbitcoin.org and will be used to aid in the completion of the school among additional #BuiltwithBitcoin initiatives including Paxful’s Africa Fund for COVID-19. Paxful will kick off BTC donations with an initial injection of $35,000 of funds.