From what it entails to what it guarantees to what it provides, blockchain technology has become a vibrant role player in transforming the world in several magnificent ways.
Almost every sector is keen to accept this technology with the expectation of growing by leaps and bounds. What actually isn’t very widely known is that blockchain can, is, and will play a crucial role in women’s management and active participation as well.
Over the last decade of the emergence of blockchain technology, there has been a significant ascent in female association with the concept of blockchain owing to its secure, transparent, and cost-saving digital services
Contribution Role of Women to Blockchain
The continuous dedicated process of paving way for women into the cluster of blockchain and its subdomains have been appreciable.
With the introduction of technology in 2008 until 2018 the absence of women in the domain was visibly observed, but then a significant influence and role of women in the blockchain process can be witnessed.
In the IT sector, women hold 20% of related jobs and 17.7% of start-ups have had a female founder.
This figure will inarguably increase on-the-double over time, as the constant initiative to integrate women in the tech industry is acknowledged on a wider scale.
The few major influencers who shook the blockchain space in 2018 not just in terms of application of technology but in leading the pace and establishing new standards are Elizabeth Stark, Amber Baldet, Neha Narula, Laura Shin, and Manoush Zomorodi & Jen Poyant, Sheila Warren, Lily Liu, KateMitselmahkher, Pamela Morgan to name a few.
While drawing our major attention towards the crypto world where blockchain technology initially led its foundation, the observed scenarios were substantial too but only after the year 2018.
According to analysts, the number of women in Cryptocurrency increased by 43.24% in the first quarter of 2020.
Comparative study of Gender Disparity in Blockchain
Despite molding onto such significant roles by the female segment of the society, surprisingly the overall collaborative engagement of the women with respect to men has remained a debatable issue to date towards an alarming situation of gender imbalance.
The blockchain industry is no exception either as there are women team members in only about 14 percent of all blockchain start-ups. In the industry, women compose only 10-30% of the total workforce.
Similarly, while focusing our concern specifically on the crypto industry which recognized the potential of blockchain technology at the budding stage, the role of women in blockchain standing in accordance with men was dumbfounding.
As per the recent data contributed by Coin Dance, astonishingly 94.73% of Bitcoin community engagement is transpired from men, while the remaining 5.27% is from women.
Additionally, as per the Reddit survey’s consideration, 96% of Ether users are men, and in another similar survey, it was found that around 84% of wallet owners were male. Women are extremely marginalized in the Crypto industry, with only 5% to 7% of women cryptocurrency users.
Scope of Women in Blockchain
As it is expected that by the end of 2024 the corporations will spend $20 billion per year for blockchain technical services. The stability and security that women’s participation provides, would eventually improve block chain’s legitimacy in more traditional spheres.
It would make it feasible for loan providers, investors, and potential clients and partners to work with companies involved in the blockchain.
If more women were part of the industry, providing blockchain technology backed by each domain associated, with the benefit of their stabilizing influence. Thus, as technology develops, it needs to scale with the interests of all of us in mind.
Keeping in mind the prevailing scenario of proportional difference in contribution toward the technological adoption. It has become the need of an hour to provide blockchain projects.
It includes cryptocurrencies( as this is where the blockchain technology is promisingly rooted) with required product development, sales, support, marketing backed by market research, and other fields that are necessary to expand to a consumer-serving stage.