There are women CEOs and evangelists trailblazing their way to help shift the balance and encourage more women to enter crypto via initiatives.
The professional crypto ecosystem has come a long way from the 2011 Bitcoin Conference, where a single woman was there in attendance (for 50 men). More interestingly, she had introduced herself as ‘the wife of a miner.’ Today, female crypto bosses are slaying the so-called ‘crypto bro’ culture with their stellar contribution to the industry - speaking upfront in regulatory conversations, setting up their own companies, and participating as individual investors.
, COO of Local Bitcoin, finds it imperative to bring more women into crypto, “There is a reason why we strive to have an equal amount of men and women in the companies, we all have different strengths. I think crypto can benefit from women’s talents.”
There are women CEOs and evangelists trailblazing their way to help shift the balance and encourage more women to enter crypto via initiatives, including women-only conferences like:
We have had some powerful women reaching new milestones in the crypto industry, including Catherine Coley, the CEO of Binance US; George Quinn, General Counsel at Anchorage; Elizabeth Rossiello, CEO of BitPesa; Leah Jonas, Head of Partnerships at Celsius Network, Toni Lane Casserly, CEO of CoinTelegraph and the list goes on.
Interestingly, data from Crunchbase shows that about 311 crypto organizations have one or more female founders in their founding team.
The number of female crypto investors has skyrocketed phenomenally, with the pandemic acting as a catalyzer. The most impact has been seen in chaotic nations where women are taking control of their finances and seeking cryptos as ‘their path to independence and empowerment.’ in 2021, Bitstamp witnessed a jump of 198 percent in female investors on its platform. Moreover, the trade volume generated by the females during the first three quarters of 2021 rose by 58 percent, of which the most remarkable contribution came from women aged between 55 and 60. While the age group of 30-35 seemed to be the most enthusiastic group to trade on the platform.
Also, it is interesting to note that the male engagement in the Coin Dance community declined from 94 percent in 2018 to 86 percent in 2020. On the other hand, as per CoinMarketCap, the number of females working in the crypto industry grew by 43 percent in 2021.
The rise in the number of women in the crypto space is prominent. Still, women continue to be disproportionately represented given the fact that cryptos have so far grown in a male-dominated environment. Even though blockchain and crypto were built on the promise of democratization, there are a few familiar factors behind the origin of its ‘bro culture. Girls are still not encouraged to opt for STEM subjects during the compulsory school years, and the prejudice also seeps into career advice. 43 percent of the STEM graduates in India are women but only a fraction of this percentage pursue a job or choose a career in this field. Females hold only 14 percent of the share of STEM jobs in India.
Many feel the gender gap is more of an accidental issue because of the belief of crypto requires a tech background. However, the female interest in tech and allied fields is on the rise with 57 percent girls wanting to pursue STEM as a career option. The number of female graduates in India is much higher than in many developed nations, including the US (34 percent), the UK (38 percent), Germany (27 percent), and France (32 percent).
A lot of crucial steps are already being spearheaded by women crypto entrepreneurs, including those in India, who are at par with global women leaders. Preeti Kassireddy, for example, designed a crypto course for beginners that is both a delight and a much-needed tool for newcomers in the space. Richa Joshi gave to the world the first-ever decentralized notification protocol - the Ethereum Push Notification Service (EPNS). And of course, one of the largest publications in the crypto space - CoinTelegraph - was founded by Toni Lane Casserly.
It’s encouraging to see leaders like Teggy Altankhuyag, COO and co-director of Coinfloor, giving us their perspective on how the industry is being truly equitable across all participants. She says, “I may often be the only woman in the room, but my voice is listened to as much as any of the men. We are a progressive industry; one that appreciates each other regardless of their sex.” Masha Drokova, founder of Day One Ventures, seems to agree. She’s outspoken about the industry giving no particular importance to gender and focusing more on whether you can deliver. “The crypto space is not about gender, but more about your energy, professionalism, and speed. As a female investor and professional, I never felt more appreciated and supported in any industry than in blockchain.”
This goes to show that any ‘bro culture’ in the sector is often rising from an individual level. But women don’t need to be ‘invited’ or ‘taught’ how exciting the crypto space is. They merely need to recognize that crypto is limitless for everyone with a passion. If they’re willing to self-start and steer their creative journey, there’s so much - they can reinvent, revolutionize and offer to the world.
First Published: IST