Women and Web 3.0: Experts weigh on community and financial freedom

crypto space continues its expansion into traditional industries. However, for women, the path to commitment is sometimes confusing or seemingly inaccessible. Those who have succeeded are encouraging others to join them in the metaverse.

first half of 2021 reportedly saw nearly double the investments and interest rates as all of 2020. Yet all of this attention comes from multiple avenues. From individuals and large corporations to large-scale institutional investors, cryptocurrencies seem to be on everyone’s radar.

Although within these groups, the question remains: how can disadvantaged demographics and communities gain access and space within the world of cryptocurrencies? In a sector so dominated by men, women in particular face barriers to access and opportunities.

A recent CNBC poll says that only 31% of surveyed crypto investors are women. While that number may seem higher than expected, around 15% of US-based investors have investments in cryptocurrencies. So in terms of size and number, 31% leave women in a very small community to trust.

As such, for women, it can be overwhelming for women, especially those who are not yet in male-dominated STEM fields. For those who may not have a financial or programming background that makes this space a bit easier to understand.

However, there are some promising numbers from a long-term perspective. A CoinMarketCap study saw an increase of more than 43% in female investors in the last quarter of 2020.

According to the women who are already breaking down barriers and paving the way for the cryptocurrency industry, a key to this inclusive future is community.

Crypto communities

BlockFi recently released data on how women interact more with the crypto space. As stated by their results, 50% of the women surveyed receive information about finances and investments from their friends and family. However, when prompted at the beginning of such conversations, the person who introduced them was often a man.

Amber Ghaddar, Co-Founder of AllianceBlock, commented on the early days in the space where women first became involved in community groups. “Where these networks are dominated by men, it is very difficult for a woman to join,” she said. “In the early days, many of these groups could be described as having a culture of ‘crypto brothers’.”

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However, this is changing. “Now we see more and more women founding, recommending or talking about new projects, investments and sharing their opinions,” she says.

Ghaddar cites one group in particular, ” Bigger Pie,” in which he participates and called it an encouraging space.

“It is one of the most active for women in the blockchain communities. In this particular group, you will find a fantastic mix of women in very important roles who may have entered the blockchain space for the first time, seasoned women, as well as those early in their careers. It is a beautiful place where women support women ”.

Communities create a repository of high-level resources, investors, content creators, and staff for future networking. As data shows that women are highly dependent on their networks, it is important that women in space have these connections that could open doors to more women in more places outside of community gender groups.

Amber cited statistics from the UK Office for National Statistics, according to which only 12.5% ​​of developers are women. Furthermore, women hold only 31% of UK tech jobs.

Financial management

All three women mentioned an important benefit of the crypto space, manifesting itself as financial emancipation through digital currencies.

Gloria Wu, Director of Ecosystem Partnerships at Ontology, discussed DeFi’s “boundary-breaking” capabilities for women.

“Decentralized finance offers greater opportunities for genuine creativity and border crossing that would be more difficult to pursue in the highly regulated traditional finance industry. Let’s not forget that traditional finance is also dominated by men, so no sector is exempt, ”he says.

Wu says the role of women in redefining finance is critical.

It is also important to look at how blockchain solutions provide those in countries rife with political and economic instability greater financial opportunities.

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31% of adults worldwide do not have a local bank. This is particularly surprising for women in countries where they do not have the same economic rights as men.

“In this sense, blockchain technology offers women in particular and citizens of emerging markets in general many alternatives to create and / or preserve their wealth,” said Ghaddar.

A great example of this can be found in Afghanistan before the recent Taliban takeover. A local non-profit organization has taught thousands of girls and women basic computer skills and financial services. Nearly a third of the nearly 16,000 girls and women have reportedly learned how to create a crypto wallet and access funds.

Also, some have started trading bitcoins and ethereum. Some of the earnings they made allegedly helped these women leave the country during the Taliban takeover in August.

Interactions without identity

Afghanistan is a good example of how women could renounce typical gender norms through cryptocurrencies. portfolios and platforms that have helped them gain financial freedom don’t care if they are male or female.

In fact, Wu said that the lack of identity in the crypto space made it easier for him to find his place.

“Much information in the space is shared online under pseudonymous names and there is no difference in treatment associated with the gender of opinion expressed. This has undoubtedly made it easier and more accessible to move into such a male-dominated space, ”he explains.

Additionally, Holly Atkinson, Metaverse Leader at Boson Protocol, called this a major advantage for female participation in DAO.

“With DAOs, everyone has the right to vote based on participation,” he said. “Generally, you will not have to share any important personal information to become a member. This means that participation as an unknown entity is enabled, making many DAOs inherently inclusive and a great starting point as a woman on the Web 3.

Atkinson said that the metaverse will be a space in which you can choose your own identity without limitations. “From the beginning, you have no limits to any aspect of real life. This does not lead to stereotypes or assumptions that can come into play in the physical world. This gives the Metaverse the opportunity to be an inclusive and fair place for all ”.

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That said, the three women encourage other women to join communities and enter crypto without fear.

“re is no need to be afraid, there are many opportunities to learn, but you have to accept that some parts can be challenging. Go your own way and try not to be guided only by others in the industry, “Wu encourages.

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