by Elaine Bennett
A 2018 research study emphasized that women made up roughly 9% of the cryptocurrency industry. Another study conducted in 2018 found that only 13% of women were thinking of investing in cryptocurrencies.
Even though women are underrepresented in the crypto industry, this trend is about to change. A recent survey shows that 22% of European crypto holders are women. Moreover, women crypto investors are 30% more likely to be in the top 10% of borrowers.
So, who are the women in the crypto sector and how are they changing it? Let’s find out!
The Role of Women in the Crypto Industry
For starters, let’s see how women are influencing the crypto market.
- Women are now considered the growing audience for the crypto industry.
We’ve already mentioned that the number of female professionals in other industries switching to crypto is escalating. Nydi Zhang, the co-founder and chairwoman of the Social Alpha Foundation says she “is confident that the number of female leaders in crypto will double in the next six months.”
Interestingly, when observed within the same time frame, the number of men in the industry has been largely stagnant, the abovementioned study shows.
- Women are increasing industry growth and stability.
Diversity and inclusion are critical for any industry growth. Statistics back me up on that. According to FastCompany, a greater number of women in C-suite level positions leads to a 34% greater return to shareholders.
- Women are making crypto more strategic and collaborative.
Female professionals have the edge in collaborative skills that include reading body language, listening, and evoking empathy. Most importantly, they have amazing community-building skills that are crucial for building crypto companies’ image and promoting ICOs in the competitive market.
- Women are less likely to engage in risky investments.
The 2018 study mentioned above says that women take a more considered and collaborative approach to crypto investments. Namely, 17% of them are more likely to consult with their friends and families before investing, compared to 11% of men.
Notable Women in the Crypto Industry
Some of the most popular ICOs and digital currency payment companies have already been founded by women. They play important roles in improving the crypto landscape and also making it available to the public. Above all, they prove that being a successful woman in a men-dominated industry is possible. Here are a few names you should pay attention to:
- Meltem Demirors – the Director at the Digital Currency Group (DCG), a company that specializes in creating blockchain tech protocols.
- Epperly Li – the investment director at Bitcoin, a leader in creating cloud-based AI chips for cryptocurrency mining.
- Galia Benartzi – the co-founder of Bancor that has built its own platform that facilitates cryptocurrency trading.
- Elizabeth Ploshay McCauley – a member of the Board of Directors at the Bitcoin Foundation and an advisor at the BitGive Foundation and Coin Congress.
- Catheryne Nicholson – the CEO and Co-Founder of BlockCypher that provides blockchain application development opportunities for businesses.
- Kathleen Breitman – a co-founder of Tezos. The company uses a decentralized blockchain platform that operates under a self-upgrading and governance model.
- Elizabeth Stark – the CEO of Lightning Labs that uses the power of blockchain and smart contracts to make transactions faster, cheaper, more private, and available to anyone.
- Sandra Ro – the CEO of Global Blockchain Business Council, a leading blockchain technology trade association.
How to Encourage Women to Enter the Crypto Industry?
To encourage more women to embark on a career in the crypto industry, there are several factors that need to be addressed:
- Eliminating sexism and any kind of misogynic behavior.
In the crypto landscape, women are often objectified. They’re still observed as booth babes at major crypto events or models that would attract investors. You’ve, for example, probably heard of DateCoin and their insulting ad on social. The ad features a model in a swimsuit, with the text “Touch my I.C.O”. To reduce the gender gap, the crypto industry should not only attract more women, but also become more women-friendly.
- A push for more inclusion and diversity.
The crypto industry is still highly homogeneous and exclusionary, lacking any socioeconomic or gender diversity. To change that, we need to create a more heterogeneous ecosystem and inspire more women to get involved in cryptocurrencies. Luckily, many crypto companies understand this problem. For example, 46% of new employees Coinbase hires are either women or minorities.
- Encouraging more girls to study STEM subjects and familiarizing them with the blockchain technologies.
This is an immensely important step, given that only 35% of STEM graduates are women. The idea is to cultivate their interest in the crypto industry before they choose their careers. There are many organizations like Code.org or communities like GirlsWhoCode that are already raising students’ awareness of the blockchain space.
Over to You
The above mentioned examples prove that, showing that crypto is not only a boys’ club. The industry calls for more female entrepreneurs to enter the world of cryptocurrencies and take up leadership roles. And, reducing the gender gap, education, and improving industry diversity could be a solid starting point.
Any thoughts on the role of women in cryptocurrency? We’d like to hear from you!