Paxful #BuiltwithBitcoin Unleashes Crypto-powered Philanthropy

Bitcoin Marketplace Joins with Zam Zam to Build Rwandan School

Paxful launched #BuiltwithBitcoin, a charitable program that encourages the cryptocurrency sector to contribute funds for humanitarian projects.  The company launched the initiative by donating $50 thousand in bitcoin for the construction of a new Rwandan nursery school. Non-profit organization Zam Zam is the implementation partner for the program.

“One of our key goals is to bring financial inclusion to the underbanked, via bitcoin,” said Ray Youssef, Paxful CEO and co-founder. “#BuiltwithBitcoin is the next logical step.  Now we are not only helping those in emerging economies meet their day-to-day financial needs; through our work with Zam Zam, we are also making a real and lasting difference in their communities.  We hope that others in the cryptocurrency scene will join this important venture.”

“We chose Rwanda because its people’s ability to heal and forgive is a model for Africa and the world,” added Artur Schaback, Paxful CTO and co-founder. “We will continue to build and perfect this model so that the entire world can see what a real difference can be made with bitcoin. We take the same philosophy with our product and are building the Paxful wallet as the model financial services application for the entire world.”

The school is located in Kasebigege Village in Rwanda’s Bugesera District.  It will serve children aged 3-6 in an area of 7,500 villagers, with three classrooms and four restrooms, as well as a potable irrigation system, 35,000-liter water tank and water-catchment system. Paxful plans to work with Zam Zam on the development of several more schools in Africa, all funded with bitcoin. The project includes multiple wells and community gardens for sustainable agriculture.

“Zam Zam strives to be the bridge between those who support and those we are serving,” said Yusuf Nessary, founder and president of Zam Zam. “We use the term ‘serve’ instead of ‘help,’ because servitude encompasses a mutual relationship:  a bond that is established that can not be disconnected. It is our moral obligation to maintain that bond and cultivate it to grow. Paxful entered the social good community with the purest of intentions and a clear purpose: to utilize bitcoin and the cryptocurrency community for the greater good of humanity. We are proud and humbled to be implementing partners in this endeavor to provide opportunities for a better quality of life for all.”

More than two billion people lack access to traditional banking systems. Many experts expected bitcoin to solve this problem by providing a decentralized payment system available to all. Unfortunately, the cryptocurrency cannot be purchased without a bank account. As such, it is primarily known today as an investment vehicle for the rich.

Paxful is a bitcoin marketplace and digital wallet that brings the sharing economy and frictionless bitcoin commerce within easy reach of everyone, especially the underbanked. It enables buyers to purchase bitcoin directly from sellers via more than 300 different payment methods, including gift cards, cash deposits, online wallets or debit/credit cards.  Paxful secures users against fraud by employing two-factor authentication and highest-level encryption, and holding funds in escrow until the seller has confirmed the payment.

To learn more about #BuiltwithBitcoin, please reach out to BuiltWithBitcoin@ZamZamWater.Org.