As of the reporting time, Bitcoin marketplace Paxful is now four schools closer to its ambitious target – with 96 more to go.
Amazingly, Paxful on September 17, 2020, announced that it had broken ground for the fourth school under the BuiltWithBitcoin initiative. The school in question will be located in the Ankara Nandu Community of Sanga Local in Nigeria. It is expected to serve 100 to 120 children aged between three and six years old. In addition, it will operate as an adult training centre in the evenings. It happens to be the first built with Bitcoin school in Nigeria. Paxful will also include solar power, a well, and a filtration system in the project.
The community is made up of about 4,000 people and only has one school that offers both primary and secondary school education. Ray Youssef, Paxful CEO, said; “We chose this particular community because of the lack of necessary resources and limited school infrastructure. They are in dire need of quality learning spaces, and this school is an honest representation of the impact bitcoin can have on societies.”
In partnership with ZamZam Water, Paxful built the first two schools in Rwanda and completed them in 2017 and 2018. In 2020, the crypto company constructed the third school in Kenya. Paxful aims to build 100 schools in Africa with Bitcoin.
In brief, Paxful has started construction on its fourth “Built With Bitcoin” school in Africa. The new school is in Nigeria and will provide quality education for 100 children. It is worth noting that it is the first to be built in crypto hot-spot Nigeria. The initiative plans to build 100 schools in Africa’s emerging economies, funded by Bitcoin. The New-York based startup has set itself a challenging target of 100 quality education centers, to be build in emerging economies – founded entirely by Bitcoins.
Ray Youssef, Paxful co-founder and CEO told Decrypt earlier this year when the third Built with Bitcoin School was announced that “Elon Musk can have Mars, I’m interested in the invisible planet of six billion humans right here.” “It really is like an invisible planet. No one sees these people,” he added.