Women In Blockchain And Crypto: How To Tackle Gender Inequality

The percentage of women invested and involved in cryptocurrency is far lower than that of men. This could be confirmed by numerous surveys and research studies. Moreover, incidents like the North American Bitcoin Conference, where only 3 of the 88 speakers were women and the conference after party was held at a strip club, show a disparity trend present in the industry.

Recently, there has been a push to get more women involved in blockchain technology and cryptocurrency. Initiatives like Mogul’s “Women in Crypto” events and organizations like the Women in Blockchain Foundation have been making an effort to get more women involved in the blockchain and crypto space.

So what exactly do the participation statistics reveal, and what could women do to get more involved in the emerging blockchain and cryptocurrency industries?

Disparity in involvement

According to Coin.dance, as of May 2018, 94.73 percent of Bitcoin community engagement and active participation comes from men and 5.27 percent from women.

Bitcoin Community Engagement by Gender

Image source: coin.dance

In Oct. 2017, a survey conducted by Reddit user loveYouEth, found that 96 percent of Ether users are men, and MyEtherWallet reported that 84 percent of their wallet holders were male.

MyEtherWallet

Image source: Twitter @MyEtherWallet

The discrepancy between the amount of men and women involved in cryptocurrency could possibly be explained by a study titled “Risk and Reward Are Processed Differently in Decisions Made Under Stress”. The study found that “stress amplifies gender differences in strategies during risky decisions, with males taking more risk and females less risk under stress”. This could be a reason why there are fewer women than men involved in Blockchain and cryptocurrency. Careers in banking and finance sometimes involve making risky decisions in situations that can induce stress.

In an article regarding risk taking, leadership consultant Doug Sundheim noted that women put more emphasis on the negative consequences of risk than men do:

“When facing a risky decision, leaders must weigh a lot of factors. Two of the biggest are, first, the likelihood that the risk in question will help hit strategic objectives and, second, the effect the risk will have on people involved…In my consulting practice I’ve noticed a tendency for men to put a stronger emphasis on the former and women on the latter.”

It is possible that the volatile nature of cryptocurrencies and differing levels of risk adversity biologically assigned to men and women is why the disparity exists in blockchain and cryptocurrency investment and involvement.

Phu Styles, founder of the Women in Blockchain Foundation told Cointelegraph about another possible reason there are more men than women involved in blockchain and cryptocurrency:

“As with most things tech related, men are the target demographic for crypto, thus due to a lack of exposure, there are fewer women invested/involved in cryptocurrency.”

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