Paxful is a crytocurrency marketplace and digital wallet provider that is trying to encourage the cryptocurrency sector to do some good.

The firm recently launched the #BuiltWithBitcoin initiative that it hopes will be a model for giving in the sector.

“One of our key goals is to, through bitcoin, bring financial inclusion to the underbanked,” Paxful chief executive officer and co-founder Ray Youssef said.

“#BuiltWithBitcoin is the next logical step. Now we are not only helping people around the world gain easier access to critical financial resources; through our relationship with Zam Zam Water, we are working with communities to make a real and lasting difference.”

Setting the pace

Part of the #BuiltWithBitcoin initiative involves raising R1.3 million through crowdfunding to build a school in Rwanda. Paxful has, for its part, donated R263 000 in Bitcoin to the the crowdfunding campaign with a promise to match all donations until the target is reached.

The firm also donated R660 000 in Bitcoin so a nursery school in Rwanda’s Bugesera District could be built in 2017. Today the school provides education to children aged 3 – 6 in the Kasebigege Village.

A school built entirely using Bitcoin.

Paxful is working with non-profit organisation Zam Zam Water which serves as the implementation partner for the initiative. Together the pair have awarded R200 000 in scholarships to female Afghan refugees who will use that money to pursue careers in the US. .

“Working with Paxful has allowed us to use bitcoin and cryptocurrency to enable a better quality of life for those in underdeveloped countries,” founder and president of Zam Zam Water, Yusuf A. Nessary said.

If you’d like to support this initiative with a donation you can head to the Zam Zam Water website and for wallet addresses (donations of Bitcoin and Bitcoin Cash are accepted) and more information about #BuiltWithBitcoin.