The well-known P2P marketplace Paxful takes the initiative in the fight against the Covid19 pandemic. The company starts its own Africa Fund. The project aims to collect donations in Bitcoin that will be used to support non-profit organizations.The COVID-19 virus has caused financial problems and uncertainty globally. Companies and institutions are under pressure – especially non-profit organizations are under pressure and rely on the proverbial goodwill of their donors in their work.
Problematic in Africa
The situation is particularly problematic in many African areas, which lack the urgently needed support – for example in the form of medical care, food and drinking water. The company now wants to partially overcome these difficulties. In addition, with the partners SHOFCO and GROW Educare Centers, around 8,400 meals and 6,100 protective masks are to be made available in the south for nurses and nursing staff working there. The Kenyan Kibera slums have been chosen.
For the company, it is clear that its own application is a prime example of the diverse cross-border and smooth uses of Bitcoin, so that those in need are helped in the crisis.