Paxful is Building Two New Schools in Kenya Fully Funded With Bitcoin

Leading peer-to-peer cryptocurrency exchange, Paxful has recently begun work on its third and fourth school building project in Kenya under the #BuiltWithBitcoin program.

In a tweet on Jan. 6, the CEO of Paxful, Ray Youssef, confirmed the development, affirming that work is already in progress on the new schools with a video showing laborers clearing the site.

Work on the new #builtwithbitcoin schools 3 and 4 has begun in Kenya ?? 100% bitcoin funded and built by local people. Sustainable education that creates jobs. That is the impact that bitcoin can have right now! @skyzer4ever and I invite you all to the opening! @zamzamwaterorg pic.twitter.com/czKbFfeBsC

— Ray Youssef (@raypaxful) January 6, 2020

The company had earlier embarked on a charity program that aims at building schools for less privileged children in most underdeveloped communities in Africa. This charity program is being funded by members of the cryptocurrency community and donations are made in Bitcoin.

Earlier last year, Ray said that it has always been his dream to build schools for underprivileged children and as a result, the company will continue to build schools in needy communities around Africa.

He added saying,

We want to build 100 schools in Africa fully funded by crypto. #BuiltWithBitcoin is our way of giving back to the communities that we serve in a way that is sustainable and brings huge smiles on our faces.

So far, Paxful has reportedly built two schools, an elementary nursery school, and a primary school in Rwanda.

The company has also been working hard to bring in bigger partners into the program and this will go a long way to increase transparency on all levels.

Irrespective of the fact that the image of the cryptocurrency industry has been repeatedly tarnished in the mainstream by the actions of hackers and fraudsters, it is quite refreshing to see people who are actually giving back to the community.