Special guest post from Inbar Preiss, cryptocurrency journalist, about the role of women in the blockchain space.
Since the founding of blockchain technology in 2009, it has grown into an ever-evolving and fast-expanding industry. By presenting an alternative to traditional data-keeping based on decentralization, blockchain revolutionizes finance, governance, exchange and so much more. However, like in many other fields in science and technology, we see a lack of women’s presence and participation.
Although an exact amount of female participation in the field is hard to trace given the anonymity of many platforms, some statistics verify the significantly low representation of women. As recorded in January 2018, women were approximated to own only 5% of the $550 billion market cap for the cryptocurrency industry. A study by Quartz showed that over the span of 6 years looking into hundreds of blockchain companies, only 8.5% of people on the founding team were women. Finally, according to Google Analytics data, as of June 2018, 91% of people engaged in the bitcoin community were recorded to be men. From experience, even in meetups and conferences, we can often see women as a minority — both in the crowd and in the limelight.
However, this is not always the case. In the UAE, women are leading the cryptospace. For example, Dr. Aisha Bint Butti bin Bishr is the director of the Smart Dubai project, which amongst other things, plans to implement blockchain technology in the public sector of the emirate by 2020, involving authorities such as police, water and electricity networks, and human development programs. Perhaps this is because, according to a UNESCO survey, women graduating in STEM subjects (science, technology, engineering and mathematics) in Arab countries make up 34–57%, which is significantly higher than in the West. If women are encouraged to study in the field of technology, they are more likely to feel at home in leadership and innovation. What we can learn from this is that the problem is not inherent to the blockchain space, but to a culture in which women may feel discouraged from participating in certain sectors.
We need to consider why it is so important to have women representation in the blockchain technology space. The danger of not involving women would result in an inherent bias in the unfolding innovations, perpetuating inequality in the underlying structures of developing systems.To break that down — if women are not involved in the development of technology which will potentially redefine the global finance system, it will remain a product of men, designed based on men. This can be as subtle as AI being developed by men, causing basic biases, although it is designed to suit everyone. A predominantly male dominance over the industry dictates the culture and opportunities, and builds a landscape which is implicitly exclusive.
Therefore, everyone should recognize that the importance of input by both men and women. If there is a board or a team working on a project, the involvement of women is vital to the balance of the product. This does not mean to hire women just for the sake of it regardless of qualifications, but to put more effort into allowing female voices and influence into the space we are creating for all of us. And for women, this does not mean to ‘put on a suit’ and take the same roles as a man, but to embrace femininity and all it entails. The different genders compliment one another, and we must create a more safe and accepting environment, so that everyone can feel welcome in the first place.
The blockchain industry gives us a glimpse into the possibilities and developments of the future. This makes it all the more important to raise awareness and improve the conditions for women in the field. We want to work towards a future with equal influence and opportunity between the genders. If we can establish this in the blockchain industry, we can set a steady path towards a balanced future. With the undertones of change and disruption driving this technology, we can take the step of recognizing the need for equality and representation.
The “Women in Blockchain” event (15 August — Amsterdam, TQ), is about the celebration of women in the field. It is a time to show our excellence as well as recognize the difficulties towards equality. We are here to inspire one another, share our knowledge and experiences, and ensure that women are included in this movement of innovation.
Learn more about the Meetup