Paxful, a global peer-to-peer bitcoin marketplace, announced last week that it has further broken ground in its 100-school initiative for the provision of quality education centers to emerging countries.
The school located in Nigeria is the fourth school and will be fully equipped with a sophisticated solar-powered and water well system.
Paxful will also help to provide PPEs (Personal Protective Equipments) which includes face masks and hand sanitizers for all teachers and students in full adherence to the safety directives laid by the government as regards the COVID-19 pandemic.
The initiative started in 2016 with Zam Zam Water as its partner. Zam Zam is a charity organization founded for the sole purpose of alleviating poverty through the provision of clean, sustainable water and access to quality education to villages across the world.
Paxful completed the first of the four schools which are located in Rwanda in 2017, with the second completed in 2018 also in Rwanda, while the third one which is located in Kenya was built in 2020.
As of today, over 400 students are beneficiaries of the #BuiltWithBitcoin initiative. Paxful expects to bring education to about 15,000 young people across Africa while also providing jobs to about 300 teachers through the 100-school plan.
The fourth school will be located in the Ankara Nandu community of Sanga Local in Nigeria and will be committed to the education of 100-120 children around 3 to 6 years of age.
The school will also be used as a learning space for adults in the evenings, thereby, assisting in the provision of supplementary education to hundreds of people. 4000 people reside in the city with only one school serving as both primary and secondary schools.
Not excluding the newest location in Nigeria, all four schools come with a water filtration system to supply the locals as well as give them the opportunity to sell to their local community at a very cheap price.
Solar panels are also present to reduce the costs of electricity and constant cutoff which in turn sustains the school. All fees associated with the management of the schools including the salaries of teachers and support staff, electricity, water bills, as well as school supplies and students’ uniforms are covered by Paxful.
Ray Youssef, CEO, and co-founder of Paxful stated that the community was chosen because of its limited school infrastructures and lack of essential resources.
He further stated that the community is in urgent need of a quality learning environment and the school is a representation of the positive impact of bitcoin on society as a whole, and more specifically in the improvement of education.
Donations are accepted on builtwithbitcoin.org. The funds will be used in the completion of the school along with additional initiatives of #BuiltWithBitcoin which includes Paxful’s African Fund for COVID-19. The BTC donation will kick off with a starting amount of funds worth about $35,000.