The Rise of Crypto Queens in Male-Dominated Blockchain Technology

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By Analytics Insight December 25, 2021 Female dominance in blockchain is increasing at a faster rate to ensure the overall improvement of the blockchain landscape

Right now, advocates of blockchain technologies – who note that it could facilitate social good – are nonetheless troubled by the lack of diversity in the blockchain community. Blockchain conferences and panels do not routinely include women as speakers. This culture is aimed at an emerging class of “blockchain brethren” and an environment that many women find hostile and disappointing. According to some studies, women make up only 4-6% of blockchain investors.

Some have hailed the arrival of blockchain as a panacea, which will solve everything from the healthcare system to supply chain transparency. Blockchain certainly has the potential to provide a form of leapfrog technology to women in developing countries. For example, Facebook claims that Libra, the cryptocurrency it is developing, will help ‘bank the poor’ and expand financial services to those in remote areas and beyond the reach of traditional banking services. . But in reality, blockchain is like any other new technology – its applications will not be as diverse and innovative as its creators. Unless blockchain developers tackle the problem of diversity, these promising new technologies risk benefiting only the privileged few and anchor, rather than disrupt, inequality.

Until 2018, the cryptocurrency industry was almost absent from women – but male crypto enthusiasts created their fraternity with private conferences and dating. At one such conference held in Japan in 2018, only two of the 42 attendees were women. And in the United States, a conference was held in a strip club. In general, the shortage of women in the blockchain market – until 2018 – is explained by the historical predominance of men in the technological, financial and scientific industries, while the number of women, although growing , is still far from equal. In these fields, women represent 10 to 30% of the total workforce. While bitcoin was originally designed to encourage financial fairness, 75% of crypto holders are men, according to a 2021 State of US Crypto report. Gender disparities have marked the financial services industry for generations, but many people hoped that cryptocurrency would usher in a new era of diversity in the financial world.

However, in the blockchain world, there have been more and more women mastering new professions: investors, traders, analysts, developers, journalists, and even business leaders. Notably, few people know that there are now more women in leadership positions in the blockchain and crypto industry than in Silicon Valley. Major crypto firms such as Bancor and Binance are clear proof of this, with 40% to 50% of employees being women – and perhaps the latter’s success is indeed partly due to this fact. The dominance of women in blockchain is expected to grow at a faster rate to ensure the overall improvement of the blockchain landscape.

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