The peer-to-peer cryptocurrency market Paxful announced on September 17th the opening of a new school in Nigeria. This is the fourth school out of 100 planned as part of the #BuiltWithBitcoin initiative to provide quality education in developing countries.

The school, located in the Ankara Nando community in the Sangha local area, will serve approximately 100-120 children between the ages of three and six and will serve as an adult education center in the evening.

The city has a population of 4,000 people and there is currently only one school, which provides primary and secondary education. CEO and co-founder Ray Yusuf explained:

“We chose this particular community because of the lack of necessary resources and the limited infrastructure for the schools. They are in dire need of high-quality learning spaces and this school is a true representative of the impact that Bitcoin can have on society as a whole, and in particular how it can improve education.”

Like all schools built under the initiative, the new building will be equipped with modern solar energy, a water well and a purification system.

This reduces energy costs and ensures that the school is not affected by routine power outages in the area. It also allows locals to sell filtered water to the community for a very reasonable price.

The #BuiltWithBitcoin initiative began in 2017 as part of a partnership with the humanitarian organization Zam Zam Water. The first two schools were built in Rwanda and completed in 2017 and 2018, respectively, while the third was built in Kenya in 2020.

Paxful covers all school-related costs, including teacher salaries, support staff, bills, school supplies, and student uniforms.

It will also cover personal protective equipment for teachers and students. As Cointelegraph reported earlier this year, Paxful has expanded its #BuiltWithBitcoin initiative to include efforts to combat COVID-19 in Africa.

Donations are accepted regularly on and start with $ 35,000 from Paxful itself.

Source: CoinTelegraph