According to recent reports, India is the country with the highest number of crypto owners across the world; the crypto owners in India number in around 100 million, as opposed to the USA’s 27 million and Russia’s 17 million. However, only about 15% of these Indian crypto users are women. This shocking disparity- not only in India, but all over the world- has been confirmed by numerous surveys and research studies.
Since the introduction of blockchain, women have played crucial roles in developing the tech and bringing it into the limelight over and over again. The contribution of women in blockchain is undeniable, and yet, the percentage of women in leading roles within the crypto sector is something as meager as 5%. However, very recently, with initiatives like Mogul’s “Women in Crypto” events and organizations like the Women in Blockchain Foundation, attempts are being made to consciously involve more women in the blockchain and crypto sectors.
In this post we discuss why we need women leadership in the crypto and blockchain spaces, and what can be done to bridge the wide gender gap in these industries.
Why do we need more women in the crypto sector?
As Angela Walch, a research associate at the UCL Centre for Blockchain Technologies in London, puts it, “The crypto world seems to mirror the tech and finance worlds in terms of gender; there are women, but the space is heavily male-dominated". As for the reason why more and more women are needed in crypto, she says, “As crypto becomes more mainstream, it is important to have diverse perspectives in creating and running the systems so that better decisions can be made".
Aside from the diverse points of view, women also need to enter the decentralized world of blockchain for financial freedom. A major number of women across the world are deprived of access to their own money due to a number of factors, including financial illiteracy and toxic relationship dynamics with family. According to a report from The National Coalition Against Domestic Violence, at least 94% of female victims of domestic abuse have also suffered through economic abuse, with their partner controlling their finances. With blockchain and crypto comes the decentralization of currency, and the potential to empower women historically disadvantaged by traditional finance.
What’s more, when talking about breaking down entry barriers for women in the blockchain and crypto space and bringing in greater diversity, we are simultaneously talking about a movement that would help the blockchain tech and cryptocurrencies achieve true mainstream adoption. After all, mass adoption can’t be achieved without women, who occupy about half of the world’s entire population.
In turn, mass adoption of crypto and blockchain leads to total economic freedom, socioeconomic mobility, material opportunities, and removal of the centralized figures and institutions separating an individual from their own wealth.
Leading women in the blockchain industry
In this section, we’ll take a look at some prominent women in blockchain and their achievements. First up, there’s Krystal Webber, the Global Design & Strategy Leader at IBM Blockchain Services. Webber has quite a lot of experience in blockchain network designing and enterprise design thinking. When it comes to influential women in blockchain, Webber has definitely made her place among the top role-models.
Alisa DiCaprio, at the moment, is the Head of Trade and Supply Chain for R3. Her role involves things like trading strategy, governance design, and more. DiCaprio has profound experience from working in public as well as private sectors for trade, labor issues, export promotion, and the design and implementation of development projects. She holds an exceptional track record in leading enterprise initiatives and greater active involvement within the blockchain space.
Rachel Wolfson is an editorial professional and a regular writer on topics of blockchain and cryptocurrency for the Forbes magazine. This well-known blockchain personality also hosts her own podcast titled ‘The Crypto Chick’ which has sparked a lot of discussions on blockchain and crypto across the globe. Notably, she has also been named among the top five women with the potential to revolutionize the crypto landscape by The Next Web.
Wendy Henry is the managing director and the GPS Blockchain Lead at Deloitte Consulting. She has helped numerous clients with the integration of blockchains and to drive growth through the use of blockchain in the Government and Public Service (GPS) practices of Deloitte.
Finally, there’s Genevieve Leveille, who is the CEO of Agriledger- an institution that focuses on tailoring blockchain systems for agriculture. Leveille is known widely for her innovative entrepreneurial skills. She is also the Co-Chair for Distributed Ledger Technologies Working Group at techUK, an advisory board member at InnovatorsBox, and a mentor for the Blockchain for Social Impact Coalition or the BSIC incubator program.
Bridging the gender gap in crypto
When it comes to crypto trading, it’s possible for women- as well as other economically underprivileged individuals and groups, to keep up with those better privileged. As Bitcoin and other cryptos’ consistent price hikes have shown us, crypto is capable of breaking out of tough spots and generating wealth. Therefore, crypto trading can enable women to create wealth only they can access, and take control of their finances.
While we are still nowhere close to achieving gender parity in either blockchain or crypto, on a positive note, in the post-Covid times, the number of women in both sectors is increasing rapidly. Hopefully, cryptocurrency is leading us toward a world where women can stand on an equal ground in terms of financial independence.
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