Bitcoin match-fundraising to pay for second Rwandan school

Cryptocurrency-funded humanitarian initiative aims to generate $100,000 for new-build education centre with full-time teaching staff.

Chloe Green | 17th Aug 18
Image shows Rwandan students who are celebrating the opening of their first new school earlier in 2018. A new cryptocurrency-funded humanitarian initiative by Paxful and Zam Zam Water aims to generate $100,000 for second new-build school in Rwanda for up to 300 students.

Peer-to-Peer finance platform provider Paxful, working with humanitarian NGO Zam Zam Water, has announced the construction of the second bitcoin-funded school in Rwanda from its #BuiltWithBitcoin campaign.

The school, intended for students aged six-to-15, is located in the Nyamata Sector of Rwanda’s Bugesera District, and supplements Paxful’s first bitcoin-funded eductional centre launched in the same district earlier in 2018 for children aged three-to-six.

Jumpstarted with a $20,000 donation from Paxful, total construction of the project is estimated to cost $100,000, with the balance to be collected through an online crowdfunding campaign. Donations can be made via Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash. Paxful will match all community donations until the $100,000 goal is met.

“The #BuiltWithBitcoin initiative is a testament to the growing power of cryptocurrency,” said Ray Youssef, CEO at Paxful. “We firmly believe in its capacity to improve lives and make the world a better place.”

The new school is planned to be almost double the size of the first, with six classrooms and six full-time teachers serving up to 300 primary school students. It will include a cafeteria, a 35,000-litre potable water well, solar panels for sustainability, and many other resources for the education and enjoyment of students, staff, and faculty.

“Education is a crucial tool for helping those in developing nations increase their standard of living, so we are very pleased to partner with Paxful to serve these bright young students,” said Yusuf A. Nessary, Founder and President at Zam Zam Water. “This is only a small glimpse into what we can and will continue to do with the power of cryptocurrency.”

Want to stay on top of the latest tech news in the third sector?

Get top insights and news from our charity digital experts delivered straight to your inbox three times per week.