Is There Gender Equality Or Still Blockchain Technology Is A Men’s Business?

Is there Gender equality or Still Blockchain Technology is a Men’s Business?

by Amelia Scott — 2 years ago in Blockchain Technology 3 min. read

Are there any gender equality laws or is blockchain technology still a men’s industry? A recent survey found that 43% of those who were interested in Bitcoin investments were women. Half of Binance’s employees in this tech-driven age are women, and crypto investors in India are dominated by women.

Despite crypto being dominated by men, there are still some women involved in the industry and helping to make it more accessible. It is gender equality, or blockchain technology is still a men’s enterprise.

What is Cryptocurrency?

Cryptocurrencies are digital assets that can be secured with cryptography and are registered on a public Blockchain. Blockchain is a distributed ledger that securely records transactions and makes them public. It is distributed and is not controlled by any centralized entity such as a bank, technology company, or other financial institution.

Blockchain technology removes the need for intermediaries, allowing transactions between two parties to take place directly. While most cryptocurrencies are known for their ability to make payments, blockchain technology can also be used to facilitate storage and computation.

Although this technology could revolutionize many aspects of our lives, including finance and beyond it, some people are skeptical about its viability over the long term.
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Women in Tech are not welcome until 2018

Women played a small role in the development of blockchain technology until 2018, but crypto enthusiasts from males created their brotherhood through private meetings and conferences.

According to the reports, only 8.5% of venture-backed cryptocurrency startups founded or co-founded between 2012 and 2018. The tech sector in general has twice the number of startups with a woman founder. This is still low at 17.7 percent but it’s better than cryptocurrencies.

The lack of women in blockchain can be explained in general by the historically dominant role of men in tech, financial, and scientific industries.

However, the number of women working in these fields is growing. These areas have a 10%-30% female workforce. Many women believe financial independence is important to them. However, women make up a very small portion of the crypto community.
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The Rise of Women In Crypto World

Things are changing in the crypto and blockchain industry. More women are now able to become investors, traders, analysts and developers. The Indian crypto industry saw a phenomenal year in 2020. The Supreme Court clarified the legality and saw an increase in female investors enter the crypto space.

It can be said that the blockchain and crypto industries are home to more women than Silicon Valley. Women can create projects that are competitive with men’s and even better than their male counterparts. The data shows that the number of women involved in blockchain technology has increased from 8% to 12 percent in the last two years.

The number of female blockchain and cryptocurrency writers is on the rise, which is notable because tech is no longer the men’s game.

The community concept is a key component in the cryptocurrency industry, particularly when companies are starting or going through an ICO (initial coin offerings). ICOs can be initiated by a group that decides to launch a cryptocurrency company and create a product or service within the space.

They also sell tokens or coins to raise funds for specific projects. These tokens or coins are designed to perform a specific function for the project. A strong community can only be built by women.

Why Are Women Better Crypto Investors?

Women are Savers

Recent research revealed that women save 8.3 percent of their income in savings, while men only save 7.9 percent. Women with more savings have greater ability to diversify their investments and invest in high-return assets such as cryptocurrencies.
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Women are more successful investors

Women are more likely to assess risks and take steps to mitigate them. Research shows that female investors weigh the risks before they invest in any asset class. Female investors are more analytical in their investment decisions. Their cautiousness helps them make the right investment in volatile markets like crypto.

Amelia Scott

Amelia is a content manager of The Next Tech. She also includes the characteristics of her log in a fun way so readers will know what to expect from her work.

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