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Bitcoin Magazine: How Bitcoin Unlocks Social Good with Paxful's Ray Youssef

Published on February 17th, 2020 by BTCMedia

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“I’ve come to believe charity depends on finding those people who can truly execute on the ground, those real-life angels. Bitcoin is one of the best things for these people because they can work with it. They are completely transparent, they don’t have to go through any of the financial hoops. Most of all, they can convert it to anything, anywhere. It’s beautiful.” —Ray Youssef, CEO of Paxful

While speculation and "hodling" are store-of-value qualities mainly used for bitcoin in North America and Europe, it's also being used as a tool for unlocking the world's unrealized capital by serving the unbanked. Paxful is one company leading this charge by offering bitcoin as a medium of exchange for people in developing countries.

In this episode, Dave Hollerith interviews the CEO of Paxful, Ray Youssef, about how his peer-to-peer exchange has enabled a new economy of currency exchange and payments all through the use of Bitcoin. Additionally, Dave asks Ray about his philosophy and experience in social good and how it directly ties into Paxful's initiative for building schools across the world.

Topics discussed:

  • How Paxful enables Bitcoin as a medium of exchange
  • Why Bitcoin's potential to bring real change is occurring in developing places like Africa and Central America
  • How Paxful navigates both regulation and scams as a peer-to-peer exchange
  • A growing commercial corridor for Bitcoin and iTunes gift cards between Africa and China
  • A new class of entrepreneurs who build businesses off of Paxful
  • Paxful's #BuildingwithBitcoin philanthropy initiative
  • Bitcoin 2020 Conference in SF

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DISCLAIMER: The following content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this presentation constitutes a solicitation, recommendation, endorsement, or offer by BTC Media, The Let’s Talk Bitcoin Network, or any third party service provider to buy or sell any securities or other financial instruments.

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