The P2P marketplace, Paxful has created Africa Fund. This Bitcoin-based initiative will accept donations from the public in a bid to help and sustain these important charitable organisations during the COVID-19 pandemic.
The financial uncertainty that the COVID-19 virus has placed upon businesses and institutions around the world has been unprecedented, but none feel the strain more so than charitable organisations that depend on the good will of others.
Some areas throughout Africa are not receiving the support that they need to provide the most basic of essentials, such as food, clean water and simple medical supplies. Paxful has valiantly taken up the cause, declaring that they will seek to provide 8,400 meals across South Africa along with 6,100 masks for carers and nurses working the frontlines in the Kibera slums in Kenya. They will accomplish this by teaming up with SHOFCO and GROW Educare Centers.
This is one of the first genuine applications of how Bitcoin can provide borderless, frictionless payments to help those who desperately need it in a time of crisis. To continue the effort of providing clean water, Paxful has also teamed up with the humanitarian organisation which provides clean and sustainable water to remote villages, Zam Zam.
The Executive Director of Zam Zam, Yusuf Nessary has stated, “This is a direct response to the pandemic and by utilizing the power of Bitcoin, we will serve thousands on the ground in a positive way!”
Paxful CEO Ray Yousseff is committed to demonstrating how cryptocurrency can make a real difference, providing charity, employment and social change.
He stated, “As a bootstrapped company, with founders who have a passion for giving instead of material things, we cultivated #BuiltWithBitcoin around creating positive social change. Paxful was the first to really look at Africa and see the opportunity to make a difference through Bitcoin. The Africa Fund is just the latest in what will be an ongoing effort to provide relief and serve these resilient communities we grew within their time of need.”
Paxful will get the ball rolling by donating $15,000 to the fund. Moreover, the company will match any public donation up to $15,000 in BTC.
The current pandemic has been a catalyst to mobilize many organisations into action, and cryptocurrency allows aid to be given much more directly than ever before. Paxful hopes to expand this initiative to other locations around the world where this crisis has taken a heavy toll.
To have your donation matched by Paxful and make a difference to millions of people across Africa, you can visit: builtwithbitcoin.org
Written by Chris Roper