Rising Role of Women in Blockchain and Crypto: A Comparative Study with Traditional Industries
Summary:
This article explores the increasing role of women in the cryptocurrency and blockchain industry. It discusses the rising involvement of women as investors, founders, and skilled professionals in the sector. The piece also contrasts women's position in this industry with its traditional counterparts like fintech, healthcare, and retail. The report showcases the industry's encouraging shift towards gender inclusivity and discusses the challenges that still need to be addressed to achieve equal representation.
Over the past ten years, the realm of cryptocurrency has skyrocketed, spurred on by ongoing technological advancement. As this cryptocurrency and blockchain industry evolves, fostering gender diversity has become a critical consideration. It's essential to value the input and experience of all genders, including men, women, and non-binary people, to establish a balanced, equitable professional workspace. This report zeroes in on women's standing in the crypto and blockchain field, contrasting this with their role in conventional sectors such as fintech, healthcare, and retail. The piece considers various statistics, explores the dynamics of gender, and sheds light on the experiences of trailblazing women, drawing attention to the opportunities and difficulties related to female representation in crypto and how it compares with traditional business environments.
Cryptocurrency, a pretty new field first discussed in 2008 when the elusive Satoshi Nakamoto unveiled the Bitcoin white paper, has evolved over a decade with a majority of men participating, giving rise to the term "Crypto Bros." However, blockchain and crypto supporters ardently advocate decentralization due to its on-chain nature, which would get rid of power concentration in one entity creating a more inclusive financial climate. Is it right then, to vest power and participation in a single gender?
Today, the real potential of blockchain has started changing the face of the sector with an increasing number of women making significant strides as investors, founders, and skilled personnel in the cryptocurrency and blockchain space. The number of women—otherwise referred to as "Crypto Gals"—contributing to this space is growing, although there is a long way to go.
A study by the eToro crypto exchange in May 2018 studied gender data in crypto markets from March 2017 to February 2018 revealed that up until then, few women were involved in cryptocurrency investment, with men making up 91.5% of all investors worldwide and women only accounting for 8.5% of the total. As of 2023, there has been a strong growth in female participation led by the Millennial and Generation Z demographic and women in the developing economies, particularly in Asia, with India and Vietnam taking the lead.
Despite the noticeable increase in the number of women investing in and using crypto, the job market's situation looks different. As of 2023, reports and data suggest that only about 26% of all jobs in the crypto industry are held by women, with a mere 6% of the top leadership roles held by females, leaving 94% of CEO roles for men.
Women are now found in roles in areas such as development, project management, marketing, design, finance, human resources and legal within blockchain and crypto companies. However, there's a significant shortage of women in the core development and technical areas.
A comparison of the blockchain and crypto sector with traditional sectors reveals valuable insights. While diversity and inclusion might be more valued in the cryptocurrency and blockchain sector than in traditional finance, the hard reality is that there are significant hurdles to overcome.
The comparison with traditional sectors highlights that there are crucial lessons to be gleaned from the inclusive practices being adopted in the fintech sector. For instance, initiatives such as mentorship programs, diversity and inclusion policies, and targeted recruitment efforts have led to more balanced representation in the fintech industry.
In conclusion, as the cryptocurrency and blockchain industry progresses, the need to make a comparison with traditional sectors becomes evident. Despite the ongoing challenges, there has been a positive shift in the industry, with growing participation of women and changing landscapes hinting at a more inclusive future. Proactive steps and inclusivity, as shown by traditional sectors, are crucial in shaping a balanced and diverse future for women in blockchain.
Note: This report, crafted by a team comprising all genders, aims to foster an unbiased exploration of women in the cryptocurrency and blockchain sector, and contribute positively toward creating a more equitable and inclusive future within this space.
Published At
3/7/2024 1:26:21 PM
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