Here is how they described themselves to me. This was enough for me to want to get them on for an interview and learn more.
"AirBnB and Uber upended the hospitality and transportation industries by taking them peer-to-peer. Paxful is now doing the same with banking, enabling the unbanked/underbanked to obtain bitcoin using any kind of currency – even iTunes gift cards. You can see Paxful’s weekly volume charts online at https://coin.dance/volume/paxful; they are up to about $17M of bitcoin bought and sold per week!
In 2001, Ray struck gold with his first business, ringtone provider MatrixM. A few years later, he decided to launch a new venture. And that’s when the troubles began. Ten years and eleven failed businesses later, Ray lost his apartment and wound up homeless. However, fate finally intervened and, while attending a bitcoin meetup, Ray met the man who would become his next business partner – Artur Schaback. They spent the next 18 months trying and failing to get Paxful off the ground. Then finally, everything clicked, and people began using the site. At the same time, the value of bitcoin skyrocketed. Ray quickly became a multi-millionaire.
In late 2017, Ray launched #BuiltwithBitcoin, a charitable program that encourages the cryptocurrency sector to contribute funds for humanitarian projects. Paxful inaugurated the initiative by donating $50 thousand in bitcoin for the construction of a new school in Rwanda. Since then, they have started a scholarship program for Afghan refugees; assisted with a Rwandan water tank project led by initiative member AnthemGold; and opened a second school."
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I like the ethos but I'm a little wary of the security aspect though I can see why Paxful will be a great platform for many diverse use cases. Love the car auction payment example.
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It is always good to see, that people who get rich fast are often inclined to give back or support those less fortunate. Some may stay trapped in greed after they got rich fast and some are incapable of keeping new riches. At the moment there are not so many who get rich fast and easy. Still, it is good to remind as to be grateful and supportive, when we are fortunate ourselves.
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Outstanding
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Thank you for brining interesting content that isn't covered in the news.
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Peer-to-Peer Financing showing a lot of promise.. Not just as a way to transfer Value, but as a way of conducting/operating business, and thus creating even more Opportunity, especially for those outside of the current banking system.
Thanks, @marketingmonk!!!
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