Women Lead Top Crypto Exchanges and Earn More Than Men, But Web3 Lags Behind in Harnessing Their Potential
As we reflect on the progress made by women in the crypto space, it’s clear that there is still much work to be done. According to Pantera Capital, women earn 15% more than men, but only about 13% of Web3 projects have female founders, and they receive a mere 6% of the industry’s total funding. Moreover, Web3 events are predominantly male-dominated, with predators lurking in the shadows.
The Importance of Inclusion and Fairness for All
Web3 promises to be an inclusive and fair platform for all, but it falls short in onboarding more women and creating safer spaces for them to thrive. Women comprise 50% of the global population, have over $31 trillion in spending power, and control 85% of consumer spending in the United States. Dismissing or disempowering their leadership is not only unjust but also detrimental to Web3’s potential.
Empowering the Marginalized Benefits All
Creating more women-centric corners in Web3 will lead to increased inclusivity and accessibility for everyone. This movement aims to break the monopoly of the hypermasculine "bro code" that tends to exclude anything, or anyone, remotely feminine. The idea of a feminine frontier represents a cultural shift in Web3, where care, collaboration, empathy, and emotionality are celebrated and valued.
Recent Developments: Emerging Markets Lead Crypto Adoption
A recent survey by Consenys reveals that emerging markets lead crypto adoption. This trend highlights the importance of creating spaces for women to participate and contribute to the narrative. Women’s experiences with marginalization have taught them to be more receptive, accepting, and giving. These qualities are essential in any inclusive community.
Building the Feminine Frontier
Onboarding more women to Web3 and creating more women-centric spaces will not only make the industry more inclusive internally but also complement its external mission of fostering inclusivity in finance. Breaking generational stereotypes is a significant challenge, but education, mentorship, and holistic support are critical in helping women overcome their limitations.
The Problem Isn’t Cognitive; It’s Psychological
The problem of underrepresentation and disempowerment of women in Web3 isn’t rational or cognitive but rather psychological and deep-seated. Women must unlearn a lot before they can learn new ways or see themselves in a new light. Women-centric communities are doing great at this, providing young aspiring women with the means to succeed in Web3.
Creating Visibility for Women in Web3
As these female-centric communities grow, they’ll create more visibility overall for vibrant and inspiring women leading Web3’s evolution in different capacities. This positive loop will motivate more young women to take the leap and stake their claim on emerging tech paradigms.
The Future of Web3: A Movement Towards Inclusion and Empowerment
The movement to break the status quo that hampers Web3’s potential as an inclusion-first industry is gaining momentum. Helping more women participate in the narrative and creating space for them to actively contribute is mission-critical. With dedication from women and their allies, the journey towards a more inclusive Web3 has undoubtedly begun.
The Co-Founder of Metis and CryptoChicks: A Champion for Women’s Empowerment
Elena Sinelnikova, co-founder of Metis and CryptoChicks, is a pioneer in promoting women’s empowerment in the crypto space. In 2021, Elena was named one of 12 shortlisted honorees of Canada’s Top Women in Fintech and Blockchain by IT World Canada. In 2022, Elena was announced as one of the Top 20 Most Influential Women in Blockchain by Hardbacon.
Disclaimer
This article is for general information purposes only and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Conclusion
The journey towards a more inclusive Web3 has begun, but there is still much work to be done. By onboarding more women and creating safer spaces for them to thrive, we can break the monopoly of the hypermasculine "bro code" that tends to exclude anything, or anyone, remotely feminine. The future of Web3 depends on our ability to create a more inclusive and empowering environment for all.
References
- Pantera Capital
- Consenys
- IT World Canada
- Hardbacon