Women in Crypto: Bridging the Gender Gap

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Women are taking over the crypto world and calling for a gender-inclusive revolution in a male-dominated industry.

In my previous job, the company I worked for promoted a program on diversity, bias and sexism in the workplace. The panel promoted by HR would invite employees to discuss their challenges in a 1:1 session with a psychologist. They were also expected to imagine their ideal work environment.

In my private conversation with the therapist, I was honest and shared with her the deeply rooted insult and sexism in the culture of the company, the organization is predominantly run by white men.

Like many organizations in the technology and finance industries today, the company’s goal was to reduce bias and promote fairness. However, its classic command and control approach diminishes the chances that a grievance system will work effectively.

In fact, grievance procedures are likely to increase bias rather than reduce it. As Harvard Business Review points out, people often rebel against the rules to assert their autonomy. Most corporate diversity programs fail because most high-level male executives don’t think diversity and inclusion is somehow important. Or that they’re too busy to get involved.

A Caucasian male senior individual contributor shared with the nonprofit Talent Innovation: I don’t think I can do much to promote diversity and inclusion. The ability to perform only regular work is so difficult that there is rarely interest or time to work on the higher order tasks that support a healthy culture.

What we see in business today is nothing new. The therapist who mediated the diversity program at my former job, a black, queer woman, was right when she said, “What you see in business is just a reflection of today’s society. today.

Patriarchy in business

Men designed the financial system; thus, it is designed for men. And moreover, other industries such as crypto and DeFi carry their counterpart culture, even though the basis of crypto and blockchain is decentralized.

The fact is, as the psychologist pointed out, our workplaces and corporate cultures reflect what we experience in our daily lives outside of work.

However, the centralized financial system and corporations are built-in absurd rules tied to internal policies that privilege the few, which can lead to bigotry, leaving little or no room for change.

On the other hand, the crypto industry advocates freedom and decentralization, a promising path for diversity and inclusion.

Crypto at the Forefront of the Women’s Empowerment Movement

So how could crypto and Web3 break into the Wild West of bro culture? Men largely dominate the crypto world despite the drive to embrace equity. According to a recent study, only 5% of crypto entrepreneurs are women and less than 10% of crypto fund partners are women.

What does this tell us? The potential is there, but there is still a long way to go and an uncharted sea to explore. Fortunately, many women are seizing this opportunity and helping to close this huge gender and diversity gap.

Today, it is clear that activism must extend beyond the streets and that true equality is possible through financial independence, education and fair opportunities. Emerging feminists who want to create a balanced and inclusive financial ecosystem.

They know crypto is here to stay, and deciding later whether women should join this economic revolution when the culture and foundations are already established isn’t the best idea. Women belong in crypto as much as anyone else.

normalize being a girl in crypto who loves fashion, gets her pretty nails done, orders over the top cocktails and is always better than any man in the industry

— best friends (@cryptobesties_) March 22, 2022

Luiza Adena Engers, CEO of Cryptize, revealed that she sometimes feels like some industry men mix things up. “As women, sometimes we wonder if we got a deal (or if someone paid attention to us) because of second intentions…Or maybe we didn’t get a deal because we’re a woman.”

On a mission to make Web3 more inclusive

Entrepreneurs, former business executives, artists, investors, and crypto enthusiasts are working together to make Web3 more inclusive. Many women-led projects, ideas, startups and businesses have been born out of this movement.

The movement and some studies show that women are there for the technology. Women make up 15-55% of crypto exchange platform users, depending on the region. Last year, startups founded by women in the United States reached nearly $59 billion in exits in 2021, up 144% from the previous year.

Representation matters, and while there is a lack of women-led businesses in the blockchain space, some women are trailblazers and doing whatever they can to bring more women with them.

Women in the crypto movement

Around the world, women are at the forefront of movements such as Crypto Female in Turkey, Women in Blockchain Talks in the UK, Crypto Mujeres in Argentina and Shechain.co in Singapore.

Lavinia Osbourne founded Women in Blockchain Talks. An award-winning educational platform that shines a light on women in the blockchain space. She pointed out that it’s not only “nice to have” more women and embrace equity, but it’s also a “must-have” for the larger space to thrive.

In Turkey, Hilal Baktas represents women in crypto with the Crypto Female project. She believes that bigotry and prejudice are due to a lack of technological knowledge, and education at a young age would help break the stereotype.

Yuree Hong is the female figure representing women in crypto in Asia. She is on a mission to make the blockchain industry more inclusive: I believe that all kinds of partnerships increase the inclusion of women in the blockchain space. We can work together to grow and make the industry more inclusive.

In South America, Crypto Mujeres helps women get the tools and resources they need to access Web3, promoting equity.

Beyond Crypto

Women are also taking over the NFT world and starting non-fungible token (NFT) projects. Collections such as Women Rise, World of Women and Rebel Society bring unique artwork and eye-catching colorful pieces to the industry, injecting it with feminine energy and creativity.

A former Washington insider and President Obama appointee, Cleve Mesidor is one of them. She is the founder of the National Policy Network of Women of Color in Blockchain and is the author of the book The Clevolution.

Mesidor shared with Next Advisor, Right now, crypto may seem male-dominated, but the future of crypto is gendered and racially inclusive.

She also emphasizes that we need to get past the formal hype and educate people properly. Yes, it is important that people do their research, look beyond the noise. But as an industry, we need to do more to make sure people have trusted sources to turn to when looking for information.

Women at BeInCrypto

This is what BeInCrypto is aiming for. BeInCryptos CEO and co-founder Alena Afanaseva founded the platform with the aim of injecting transparency into an industry plagued by misinformation and misleading reporting.

As a woman who has worked as a financial analyst and who herself felt the limitations of women in the financial industry, Afanaseva decided that in her own company, the inclusion of women and the empowerment of women would be a priority from first day.

She’s optimistic about it, and with the industry maturing, she thinks anyone with skills or background can contribute to Web3 by adding their own personal touch.

“As founder and CEO of the world leader in crypto media, I am already an example that there are no barriers. However, we continue to write, educate and draw attention to what topic through our media with particular attention to content in all 13 languages.

Today, at BeInCrypto, 40% of our teammates are women, and 11 teams have female leaders. Equity and diversity go beyond empowering women, even though our teams include people from 60 different nationalities speaking 13 different languages.

Conclusion

There is a shift in the crypto industry and efforts from all directions are there to make this market more inclusive. Yet the crypto industry is far from fair and needs radical and inclusive change to close the gender gap.

Companies like BeInCrypto, initiatives like the Women in NFT Market Movement and Women in Crypto are bringing hope and optimism for a balanced future in Web3.

Learn more about women in the crypto movement and how they are changing the industry. Check out our ebook now!

Disclaimer

Information provided in independent research represents the views of the author and does not constitute investment, trading or financial advice. BeInCrypto does not recommend buying, selling, trading, holding or investing in cryptocurrencies

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