Peer-to-peer bitcoin marketplace Paxful said its #BuiltwithBitcoin program says the new school in the Ankara Nandu community of Sanga Local in Nigeria will serve 100-120 children between the ages of three to six years old and will be equipped with a state-of-the-art solar-powered and water well system.

“This school is an honest representation of the impact Bitcoin can have on societies as a whole”

“We chose this particular community because of the limited resources and school infrastructure,” said Ray Youssef, CEO and co-founder of Paxful.

“They are in dire need of quality learning spaces and this school is an honest representation of the impact Bitcoin can have on societies as a whole, and more specifically, how it can enhance education.”

The building will also be a space for adult learning in evenings.

The #BuiltwithBitcoin initiative has already established two schools in Rwanda and a third in Mukalala Village in Machakos County in Kenya.

“Each one of our schools follows the curriculum of their respective ministry of education,” Youssef added, and textbooks, guidelines, and calendars fulfil all necessary requirements for testing and progress.

“Local officials have been supportive of the initiative’s efforts as we simply want the students to be able to succeed and graduate onto higher education by ensuring their educational foundation is strong and capable.”

Paxful is aiming to enable nearly 15,000 young people throughout Africa to access education via the project and provide jobs to close to 300 teachers.

The water filtration systems at the schools will not only supply the local population but also offer an opportunity to sell the water to their local community at an affordable price.

Solar panels will reduce electricity costs and bypass regular electricity cuts.

The financial technology startup founded in 2015 will cover fees associated with running the schools, including staff salaries, electricity and water bills, and school supplies and student uniforms.