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Women in Blockchain

With what it entails to what it guarantees to what it provides, the block chain technology has become the 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 leap and bounds. What actually isn’t very widely known is that block chain can, is and will play a crucial role in women management and active participation as well .

 

Over the last decade of emergence of block chain technology there has been significant ascent in female association with the concept of block chain owing to its secure , transparent and cost saving digital services The continuous dedicated process of paving way for women into the cluster of block chain and its sub domains has been appreciable. With the introduction of technology in 2008 until 2018 the absence of women in the domain was visibly observed, but then on a significant influence and role of women in block chain 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 block chain 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, Kate Mitselmahkher, Pamela Morgan to name a few. While drawing our major attention towards the crypto world where block chain technology initially led its foundation, the observed scenarios were substantial too but only after the year 2018. According to the analysts, the number of women in Cryptocurrrency increased by 43.24% in the first quarter of 2020.

 

Despite of moulding 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 till date towards an alarming situation of gender imbalance.  The block chain industry is no exception either as there are women team members in only about 14 percent of all block chain start-ups.. In the industry, women compose only 10-30% of total workforce .Similarly, while focusing our concern specifically onto the crypto industry which recognised the potential of block chain technology at the budding stage , the observations of women standing in accordance to 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% 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 marginalised in the Crypto industry, with only 5% to 7% women crypto currency users.

 

Keeping in mind the prevailing scenario of proportional difference in contribution towards the technological adoption, it has become the need of an hour to provide block chain projects including crypto currencies( as this is where the block chain 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. As it is expected that by the end of 2024 the corporations will spend $20 billion per year for block chain 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 block chain, if more women were part of the industry, providing block chain technology backed by each domain associated ,with the benefit of their stabilising influence. Thus, as technology develops, it needs to scale with the interests of all of us in mind.

-by: Shalini Pandey.

Pic Courtesy: Pexels

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