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Paxful Sets A Bitcoin-funded Charity In Africa

TechInAfrica – As the global crypto-marketplace, Paxful partnered with Zam Zam Water—a non-profit organization—launched #BuiltWithBitcoin last year in order to boost up the cryptocurrency field to join on humanitarian projects. Paxful believes that bitcoin is beneficial to help people in Africa by building 100 schools, water wells, as well as community gardens for agriculture.

The CEO of Paxful, Ray Youssef says: “The project is a testament of cryptocurrency’s power”. He then adds, “We strongly believe it’s able to improve people’s lives and make the world a better place to live in.”

Paxful CEO-Ray-Youssef via techeconomy.ng

Co-founder and CTO of Paxful, Artur Schaback also adds, “We have a big hope that the #BuiltWithBitcoin project will be a good example in the sector. We are excited about making a difference and for the future of crypto-backed development.”

Upcoming Event. Crowdfunding

Recently, Paxful has launched its crowdfunding campaign as a part of #BuiltWithBitcoin project. The project set to raise R1.3million in order to build a primary school in Rwanda, Africa as well an investment for a nursery school in the country. Plaxful donates R263 000 in bitcoin to start the campaign. It also claims to match all the donation to meet with the target.

Current Program

The first school sponsored by Paxful’s #BuiltWithBitcoin project is in Kasebigege Village in Rwanda’s Bugesera District. Paxful donates R660 000 of bitcoin to build up the nursery school in 2017 which serves children with the range of age 3-6 years old in the area of 7,500 villagers. The school does not only provide a 35,000-liter water tank, but also potable irrigation and water catchment system which can also benefit the local farmers. Furthermore, it also provides teachers with the educational materials they need and salaries. As for the students, they will get free lunches as well as free uniforms.

The project also gave R200,000 in scholarships to female Afghan refugees, so they can have a career in the United States. As the partner of the program, Zam Zam organization selects the recipients of the scholarships.

Zam Zam Organization via https://www.zamzamwater.org

The Founder and President of Zam Zam organization, Yusuf A. Nessary said, “Education is the main tool to help people in developing countries to improve their living standard, thus, we are so delighted to have Paxful as our partner in order to help bright young students.” He also adds, “We will keep on doing what we can with the power of cryptocurrency mission.”

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