Male-Dominated Crypto World Needs More Women, Exchange Manager, Banking News & Top Stories Says

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SYDNEY (BLOOMBERG) – The male-dominated cryptocurrency industry may offer more job opportunities for women, according to the head of Australia’s largest digital asset exchange.

Blockchain needs greater participation from women and provides opportunities as the industry matures and acceptance of decentralized finance grows, said Caroline Bowler, Managing Director of BTC Markets in Melbourne.

The industry welcomes new ideas and allows for flexibility, Ms. Bowler said.

“There are many entry points into cryptocurrency and blockchain businesses and you don’t have to be a developer or a blockchain specialist to find your place in this ecosystem,” he said. she declared.

Ms Bowler’s encouragement goes against crypto’s notorious “bro culture”, as well as Australia’s checkered gender record. As with much of finance and tech, the digital asset industry remains largely male-dominated, although figures on the gender split in the industry remain hard to come by. Men also dominate crypto investments.

‘Crypto Bros’

“It’s not perfect, there’s this whole ‘crypto bros’ subsection that still exists and I have no doubt it will continue to exist,” said Ms Bowler, who previously worked at Bank. of America Merrill Lynch and serves on the Board of Directors of Blockchain Australia. “But as crypto becomes more mainstream and more women come in, the impact of this crypto brother is diluted and normal mainstream acceptance is felt.”

The trajectory of traditional finance suggests that strengthening the ranks of women working in digital assets will not be easy. While the increase in the number of female fund managers was the largest ever in the Citywire Alpha Female 2021 report, the percentage of women managing money globally rose from 10.3% to 11.8 % only.

The most famous woman in the industry is probably Ms. Blythe Masters, the former banker of JPMorgan Chase & Co who is credited with inventing the credit default swap, who then founded the blockchain start-up Digital Asset. Holdings in 2015. But for people who see the value in gender equity, there is still a long way to go.

“We need to attract more women to the industry,” said Mr. Anthony Scaramucci, founder of SkyBridge Capital, which offers Bitcoin and Ethereum funds, in an interview last week. “The more diverse we are, the smarter we are. We can appeal to people from all over the place. I don’t know how we do it, but we have to do it.”

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