Paxful has launched a charitable program called #BuiltwithBitcoin whose aim is to encourage those in the cryptocurrency industry to contribute funds for humanitarian projects. As part of the launch, Paxful is donating $50,000 worth of Bitcoin for the construction of a new nursery school in Rwanda.
Paxful is a peer-to-peer bitcoin technology company.
"One of our key goals is to bring financial inclusion to the underbanked, via bitcoin," said Ray Youssef, CEO, and co-founder at Paxful.
The company says that the school they are building and working on is located in Kasebigege Village in Rwanda's Bugesera District. It will serve children aged 3-6 in an area of 7,500 villagers, with three classrooms and four restrooms, as well as a portable irrigation system, 35,000-liter water tank and water-catchment system.
"#BuiltwithBitcoin is the next logical step. Now we are not only helping those in emerging economies meet their day-to-day financial needs; through our work with Zam Zam, we are also making a real and lasting difference in their communities. We hope that others in the cryptocurrency scene will join this important venture. We chose Rwanda because its people's ability to heal and forgive is a model for Africa and the world. We will continue to build and perfect this model so that the entire world can see what a real difference can be made with bitcoin. We take the same philosophy with our product and are building the Paxful wallet as the model financial services application for the entire world," said Artur Schaback, CTO, and co-founder at Paxful.
Paxful will be working with Zam Zam as their implementation partner in Rwanda for the project. Both organizations hope to work together in future on the development of more schools in Afrika, all funded with bitcoin.
"Zam Zam strives to be the bridge between those who support and those we are serving. We use the term 'serve' instead of 'help,' because servitude encompasses a mutual relationship: a bond that is established that can not be disconnected. It is our moral obligation to maintain that bond and cultivate it to grow. Paxful entered the social good community with the purest of intentions and a clear purpose: to utilize bitcoin and the cryptocurrency community for the greater good of humanity. We are proud and humbled to be implementing partners in this endeavor to provide opportunities for a better quality of life for all," concluded Yusuf Nessary, founder and president at Zam Zam.