While India celebrated its 72nd Republic Day, Paxful, the international peer-to-peer finance platform, commenced its humane initiative, #BuiltwithBitcoin in India.
Dev Sharma, Paxful’s Country Lead for India, said, “India is one of our fastest-growing markets. We’re proud to give back to the community and help support the education and health of the next generation. Throughout the year, we will be undertaking more projects throughout India.”
#BuiltwithBitcoin strives to build 100 schools by 2030; while paying heed to water wells and community gardens for sustainable agriculture. #BuiltwithBitcoin is funded by the company and in part by donations from Paxful users.
Ray Youssef, CEO and Co-Founder of Paxful, says, “We set up #BuiltwithBitcoin because we believe that access to quality education and water is as essential as access to finance. We’ve expanded its remit in response to the impact of the COVID-19 pandemic. We want to use bitcoin to make a real and lasting difference to our communities.”
He added, “Working with the CRY-Child Rights and You, we hope to reach the most remote areas of India and help people with educational and health supplies. This is the start of #BuiltwithBitcoin here in India, and we have more projects to come.”
Paxful Partnership with CRY
The company took joint action with prominent Indian NGO CRY(Child Rights and You) on its first endeavour here–helping donate cosy clothes and necessary hygiene and educational supplies like school books and art supplies to households the COVID-19 pandemic affected.
CRY reckons that every child has the right to a childhood – to live, to learn, grow and play.
Paxful, the most major peer-to-peer finance platform in India, has seen perpetual growth in this country, with an average of 12,000 people enrolling every month in 2020. It saw a boost of 120% in trading activity, too, in 2020.
The project has completed four schools: two in Rwanda, one in Kenya, and one in Nigeria.
In Chhattisgarh, Paxful invested over INR 8.5 Lakhs towards CRY’s project, extending a hand to children and families across country villages in the Surguja and Korba districts.
In 2020, the initiative began encompassing COVID-19 relief projects as a solid response to the misery caused by the pandemic.
“The COVID-19 pandemic has meant immense hardship for many sections of society. For children, the impact has been harsher. It has been so motivating that in their hour of need, Paxful is committed to helping and has partnered with CRY to provide relief packages to marginalized communities that we support in Chhattisgarh,” said Kreeanne Rabadi, Regional Director, CRY-West.
Paxful undertook Built With Bitcoin In 2017 to construct 100 schools, water wells, and community gardens promoting sustainable agriculture. With a lot of ban FUD surrounding crypto in India, #BuiltWithBitcoin is a great argument for why India would do well to embrace the currency instead of opposing it.
Though the primary aim was to provide children with education and clean water, this initiative instils in us the belief that cryptocurrency’s power can bring about real change -heal the world and make it a better place.