Paxful launched the #BuiltWithBitcoin charity in 2017 to show how Bitcoin can aid people globally. The goal of this fund is to build 100 schools, water wells, and agricultural community gardens funded entirely by Bitcoin.
COVID-19 has been on the rise in many areas around the world especially Africa. Paxful is launching the Africa Fund which aims to use Bitcoin donations to help Africa combat this situation. The funds collected will be used to purchase personal protective equipment (PPE), food packs, and even provide high-risk individuals with groceries and handwashing stations.
Paxful is kickstarting the Africa Fund with an initial donation of $15,000. Also, it will match any additional donations in Bitcoin by the community up to $15,000. The focus now will be providing Africa with access to food, water, and medical supplies.
Paxful plans to provide 8,400 meals across South Africa facilitated by GROW Educare Centres. It will also arrange for delivery of 6,100 masks for frontline workers in the Kibera slums of Kenya by SHOFCO.
Zam Zam Water, a humanitarian organization devoted to eradicating poverty, is also a partner to this fund. They will provide supplies including vitamin C and carrier bags to over 1,000 people in various states of Nigeria. This includes Kaduna, Kano, Adamawa, Enugu, Abuja, Lagos, and Kwara.
Zam Zam Water is also helping the 341 families whose children attend Paxful’s #BuiltWithBitcoin schools in Rwanda. Reportedly, the initiative will benefit a total of 1,873 people with health insurance, access to clean water, as well as provide books and school supplies to continue learning through the pandemic.
What the initiative partners had to say
On the occasion, Ray Youssef, CEO and co-founder of Paxful, stated “As a bootstrapped company, with founders who have a passion for giving instead of material things, we cultivated #BuiltWithBitcoin around creating positive social change. Paxful was the first to look at Africa and see the opportunity to make a difference through Bitcoin.”
He called the Africa Fund just the latest initiative in “an ongoing effort to provide relief and serve these resilient communities we grew within their time of need.”
CEO and founder, SHOFCO, Kennedy Odede, highlighted the attempts to address basic needs like access to clean water, good hygiene and sanitation, economic support, and emergency food relief. He said, “With support from Paxful, we are able to deliver essential services and protections that will help save lives among Kenya’s most vulnerable urban slum communities.”
In the words of executive director of Zam Zam Water, Yusuf Nessary, “This is a direct response to the pandemic and by utilizing the power of bitcoin we will serve thousands on the ground in a positive way.”
Paxful has a stated mission to empower over four billion unbanked and underbanked around the world so that they can take control of their money. In fact, they have consolidated their position as a remittance hub for Africans in countries like Nigeria and Kenya.
Moreover, the #BuildWithBitcoin initiative has widened the scope of what they are trying to achieve. On top of building financially empowering products, Paxful also provides education by building schools in Rwanda and Kenya. Essentially, they have made a major impact by showing what cryptocurrency can achieve.
If you like to aid their cause and help the millions in Africa, visit builtwithbitcoin.org.
Zam Zam Water
More Paxful stories
Paxful introduces gold trading options
Paxful: Buy Bitcoin instantly
Crypto boom in India? Paxful reckons so
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This interview, overview or update article has been compensated for media cooperation and has been sponsored for by the interviewed or reviewed organization. Copyright Altcoin Buzz Pte Ltd. All rights reserved.