There isn’t one reason to believe in blockchain technology these days, as cryptocurrency enthusiasts and proponents realize that there are many different ways that the technology will change the world. This not only includes how blockchain will affect decentralization and privacy, but also how it will give opportunities to those who didn’t have as many previously.
One of the main ways that people believe cryptocurrency can change the world is that it will be able to provide financial services for the unbanked. Many believe that Africa represents a huge opportunity with regards to cryptocurrency. There is certainly some evidence that a demand exists, as Binance was able to sign up 40,000 traders within its first week of launching Binance Uganda. However, a different cryptocurrency-related company is building a third school in Africa, already, thanks to the platform’s success.
For those that are unaware, Paxful is a peer-to-peer Bitcoin (BTC) marketplace that connects buyers with sellers. It has grown to become one of the largest P2P Bitcoin marketplaces in the world. Paxful is not an instant success story, however. One of the reasons why Paxful is constantly thinking about social impact is because the CEO of Paxful, Ray Youssef, has fallen on hard times himself.
While Youssef has been passionate about cryptocurrency for a while, it hasn’t always paid off. Specifically, there was a period of time where Youssef was “going from crash pad to crash pad” and would even “crash in the park”.
About The Impact
Youssef truly believes that Bitcoin should be used for social good, and Paxful seems to emphasize this more than many other companies in the space. For those who were unaware, Paxful built two schools in Africa already in Rwanda, thanks to a parrnership with Zam Zam Water. The second school was finished only several weeks ago.
Youssef is far from done, as his ultimate goal is to build 100 schools in Africa. There is little doubt that this could benefit the lives of thousands of people. Youssef stated that while no decision has been made about the location of the next school; he still hopes to build two or three more schools this year.