The P2P market continues to be promoted to highlight the benevolent and positive nature of the Bitcoin community. Peer-to-peer cryptocurrency market Paxful announced on September 17th that it had laid the foundation stone for a new Nigerian school. This is part of the #BuiltWithBitcoin project that plans to open the fourth of 100 schools to provide quality education to emerging markets.
This school is located in the Ankara Nandu community in Sanga Local and is expected to look after 100 to 120 children between the ages of three and six and serve as an adult education centre in the evenings.
This city is home to 4,000 people and currently, only one school offers both elementary and secondary education. Paxful CEO and Co-Founder Ray Youssef stated:
“We chose this particular community because of the lack of necessary resources and limited school infrastructure. They desperately need high-quality study space, and this school is an honest advocate of the impact of Bitcoin on society as a whole, particularly on how to improve educational levels. “
Like all planned schools, the new facility will be equipped with the latest solar energy, wells and filter systems.
This can reduce electricity costs and ensure the school is not affected by regular power outages in the area. It also allows locals to sell filtered water to their communities at very reasonable prices.
Paxful’s Built with Bitcoin project was launched in 2017 in collaboration with the humanitarian organization Zam Zam Water. The first two schools were built in Rwanda and completed in 2017 and 2018 respectively. The third school was built in Kenya in 2020.
Nigerian School Expenses to Be Paid by Paxful
Paxful pays all expenses related to school operations, including salaries, bills, school supplies, and student uniforms for teachers and support staff.
It will also cover personal protective equipment for teachers and students. As reported by Cointelegraph, earlier this year Paxful expanded its Built with Bitcoin program to include fundraisers to help alleviate COVID-19 in Africa.
Donations are continually being received on the buildwithbitcoin.org website, and Paxful itself has raised $ 35,000 as a start-up fund.