Built with bitcoin: an NGO that helps through bitcoin donations

The media tends to only mention the speculative aspect of Bitcoin. We then forget that bitcoin is very regularly used in charitable works. Ethical finance also exists in cryptocurrency, as we have seen with the app Retreeb. It is important to emphasize this.

Thus, there are more and more humanitarian associations which accept bitcoin and use it to help the most vulnerable populations.

This is the case withNGO Built with Bitcoin. It is an international organization that helps the most deprived populations in the world. The NGO was created and financed by the PaxFul platform. It is a peer-to-peer bitcoin buying and selling platform. It is a site widely used by those who want to buy bitcoin in Africa.

More and more humanitarian projects are using cryptocurrencies to finance themselves. This is particularly the case of the NGO Built with Bitcoin which helps the most deprived villages in Africa.

You should know that Paxful is not just a bitcoin purchase platform, but it is also a real machine for popularizing the cryptocurrency industry. Even better, Paxful wants to have a positive social impact. The company has this humanitarian dimension that few other platforms can boast of having.

The NGO Built With Bitcoin and bitcoin donations

Five years ago, in 2017 Paxful launched the initiative #BuiltwithBitcoin to promote philanthropy and charity within the community. The objective is to build 100 schools in Africa, water access systems, and business incubators entirely financed through bitcoin (BTC) donation collections.

« We believe that bitcoin is a vector of change that represents the future. Built with Bitcoin is our way of providing opportunity, changing lives, and making the world a better place for communities in need, through bitcoin.", this is how the project is explained at Paxful.

Today, the initiative is building its fourth school in Nigeria, so only 96 remain to be done. This comes after the third school in the series built in Rwanda for schoolchildren aged 6 to 15.

Located in the Nyamata sector of the Bugesera district, the district where the infamous Tutsi genocide began in 1994, the school is in addition to the first school financed in bitcoins by Paxful, which opened its doors in this same district and welcomes children aged 3 to 6 years old.

Continuing its successful partnership with the humanitarian organization Zam Zam Water, construction was launched with an initial donation of 20 US dollars. The total cost of construction was estimated at US$100.

How to contribute to Built with Bitcoin?

If you are interested in the project, you can contribute to #BuiltwithBitcoin, by sending your donations to Zam Zam Water (a humanitarian organization that plays a vital role in eradicating poverty by providing clean, sustainable water, access to quality education, and more equitable opportunities in villages around the world).

You can go directly to the site and make your donations in the same way as you would with fiat currency.

The donation service is made possible thanks to Giving Block, a payment infrastructure for associations that wish to receive crypto donations.

Transparent financing

The big advantage of using bitcoin donations for associations is the fact that everyone can verify the funds. Everything is recorded on the blockchain and you can see how the funds are managed. This is a way to avoid scams. Indeed, even in the humanitarian world, there are scams.

The other advantage is rather other fiscal. It costs less to send bitcoins than fiat currencies. For example, Built with bitcoin claims to use 92% of funds for aid directly. This is an impressive figure and rather rare in the world of associations in Africa…You can even check for yourself the financial reports of theNGO.

Schools to train in blockchain

This new school welcomes almost twice as many students as the first (around 300), with six classes and six full-time teachers. It also has a cafeteria, a 35 liter drinking water well, solar panels to contribute to sustainable development, and many other resources for the education and enjoyment of schoolchildren, staff and teaching staff. .

All children study there for free and teachers are paid through BTC donations. Basic lessons on cryptocurrencies are regularly provided there to strengthen their democratization.

Thus, Paxful stands among the leaders in the field of crypto education worldwide. but not only! While promoting financial inclusion in Africa by offering its services via MTN Mobile money, it also contributes to the democratization of the bitcoin industry in Africa through the Built with bitcoin project.#BuiltwithBitcoin also helped alleviate the effects of COVID-19 in Africa thanks to the generous contributions of its users.

We can also cite the various workshops led by Binance Africa which popularizes cryptocurrency and its use to as many people as possible.

Final Word, Criticisms and Perspectives on Bitcoin-related NGOs

Some might criticize this way of doing things. We could say that this is a way of advertising Paxful or other crypto companies.

However, this would only be seeing one element in the whole. The ecosystem is vast and learning blockchain is already a highly sought-after skill. It is indeed a way of teaching tomorrow's computing with the possibilities offered by Web3. Likewise, Africa is entering ever deeper into cryptocurrencies, as evidenced by the creation of the first African cryptocurrency (sangocoin) in the Central African Republic.

For many people, bitcoin and blockchain could help the continent develop economically. This is particularly what was declared Nayib Bukele which makes the connection with Latin America.

Note: There is no financial advice in this or any other article on this site. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.

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