Paxful, the Global P2P Bitcoin Platform on Wednesday announced with elation the construction of a school in Machakos County, Kenya as part of the 100-School initiative. It is the third school to be built as part of the plan to bring proper education centres to emerging countries throughout Africa.
The school will come with a fully equipped state-of-the-art water well system for children between the ages of three-six years old. Paxful has committed $30,000 donation to kick off the construction, which costs $160,000 in total.
Paxful, in a press release, called on the global Cryptocurrency community to help with donations towards the completion of the building of the school. So far, the initiative has seen two schools built in Rwanda.
Built With Bitcoin
Also known as BuiltwithBitcoin Initiative, it currently supports over 400 students. Through the 100-school plan, the company expects to bring education to nearly 15,000 young people around Africa while providing jobs to almost 300 teachers.
Ray Youssef, CEO of Paxful, told QT that the initiative is how they have given and plan to continue to keep giving back to the communities that need it the most. He stated:
“Not only are we able to change lives, but this helps to showcase how the power of peer-to-peer finance through cryptocurrency can reach people that need financial assistance. We currently have schools that are either actively open or being built in Rwanda & Kenya with expansion throughout the rest of Africa and the world.”
Youssef called on his fellow Crypto community members to join them in donating to bring every aspect of the school to fruition. He maintained that his outfit would match every donation.
“Paxful kicked off the project with a $30,000 Bitcoin donation, but the total cost for the school to be built is $160,000,” Youssef emphasised. “We launched the BuiltwithBitcoin to call on the crypto community to donate and be part of this initiative alongside us. We will match every donation that comes in.”
Water Is Essential
When QT asked the CEO what inspired the decision to equip the school with state of the art water system, he stressed that the team believes providing an area with clean water offers opportunities in the community. Moreso, their partner Zam-zam water is devoted to playing a vital role in eradicating poverty by providing clean, sustainable water and access to quality education.
Youssef likewise holds the state-of-the-art water well system goes hand-in-hand with the quality education the schools are offering. The hope is that these will positively foster the community and provide more equitable opportunities to villages across the globe.
In the coming years, countries like South Africa, Nigeria, as well as India and some part of Latin America will benefit from the 100-school initiative, according to Youssef.