The P2P marketplace continues its push to highlight the positive and benevolent nature of the Bitcoin community. On September 17, Peer-to-peer cryptocurrency marketplace Paxful announced that it had broken ground on a new school in Nigeria. The fourth school of hundred planned as part of its #BuiltWithBitcoin initiative to bring quality education to emerging countries.
The school is in the Ankara Nandu community of Sanga Local. It will serve an estimated 100-120 children between the ages of 3 and 6 years old, and double as an adult education center in the evenings. The city lives around four thousand people. Currently, it has only one school providing both secondary and primary education.
Ray Youssef, Paxful CEO, and co-founder explained that the limited school infrastructure and lack of necessary resources is the reason for choosing this community. They are in dire need of quality learning spaces. Moreover, the school is an honest representation of the impact bitcoin can have on societies. Furthermore, it can enhance education.
The new facility will come with state-of-the-art solar power and water well and filtration system, as with all schools built as part of the initiative.
It ensures the school is not affected by the regular power outages in the region and cuts electricity expenses. Thus, it allows locals to sell filtered water to their community at a very rationale price.
The #BuiltWithBitcoin initiative of Paxful started in 2017 with the partnership of humanitarian organization Zam Zam Water. The first two schools are in Rwanda. They completed in 2017 and 2018. Meanwhile, the third one is in Kenya since 2020.
Including teachers and support staff salaries, school supplies, and uniforms for the pupils, Paxful covers all the fees associated with running the schools.
Moreover, it will cover personal protective equipment for students and teachers. Earlier this year, Paxful expanded its #BuiltWithBitcoin initiative to include fundraising relief against COVID-19 in Africa.
That is good news for Africa and particularly Nigeria. Let’s hope that the school will succeed. Education is most important for children.