There are still few and far between women working in the blockchain sector. Accurate statistics may be unclear, but technology generally remains a male-dominated area. For example, a recent report from Deloitte found that only 7% of the founders of fintech startups are women. The report also noted that startups co-founded and co-founded by women sought funding during the COVID-19 pandemic.
The findings show that during the first six months of 2020, 20 women-led startups received a total of $ 875 million. On the other hand, 243 male-based startups earned about $ 12 billion during the first half of 2020. It is also very discouraging that payment data from Coinbas, one of the most popular cryptobourses in the world, showed that female and Black employees were underpaid In previous years.
But forever, hope comes forever for the future of women in the blockchain. Although still highly male-dominated, there are a number of notable women who innovate at a high level in the corporate blockchain space.
We bring neurodiversity to enterprise systems
For example, Lisa Butters, CEO of Honeywell GoDirect Trade Greenhouse – a blockchain marketplace for used aircraft parts – told Cointelegraph that while it may not be obvious, a woman’s perspective can provide a different, much-needed view of business situations. Butters specifically stated that women are notorious for ensuring that enterprise systems are efficient and user-friendly:
“Women are known for organizations.” Our game room at home looks like a bomb. My minivan looks like four pounds of goldfish inside a container are sprinkled in every crack and hole. But when I look at the “confusion” as a woman, I naturally want to jump in to prevent these things. In terms of efficiency and user-friendliness of enterprise systems, I bring the same thought processes. “
Butters, for example, shared that when GoDirect Trade first designed a blockchain book to collect aerospace-related data events, each event had different fields associated with it. Butters explained that the “birth event” of the section could have seven related fields to capture, while the “correction event” could have nine related fields.
Butters noted, however, that sometimes the only field apparently associated with a part was its serial number. Butters therefore explained the need to develop a scalable approach to data collection:
“My mind immediately turned to normalizing data and capturing standardized data across all parts events.” When it comes to user friendliness, my team is used to designing for parents. If my mom and dad can’t figure it out, we have to get back to the drawing board. “
User friendliness and efficiency are some of the most important elements of enterprise systems. In a blog post GoDirect Trade Butters mentioned that the company’s website reflects this and points out that the website is a mixture of Amazon, Etsy, Mercari and Target. Butters wrote in her post: “If a 43-year-old man were the only voice to suggest our aviation market, do you think it would look like this?”
Chaitanya Konda, global head of R&D blockchain at Ernst & Young UK, told Cointelegraph that her work revolves around making the vision of the token economy a practical reality. “This requires ensuring the privacy and scalability of token transactions and the complex business logic surrounding tokens for a reasonable transaction fee,” she noted.
Like Butters, Konda understands that women are usually good at multitasking, and therefore develops an innate ability to come up with effective approaches to tackling current challenges. “Having women bring this thinking to the design and development of these enterprise systems can be extremely valuable,” Konda said.
This also applies to another important element of the blockchain sector: open-source projects. Anais Ofranc, a member of the Basic Protocol Technical Steering Committee and CEO of Consianimis Consulting, said she was helping to ensure that different stakeholders, personalities and interests are represented in open source systems. “A woman’s perspective is important during the decision-making process for open-source projects,” she said.
Echoing Ofranc, Kaliya Young, director of ecosystems for the COVID-19 Credentials Initiative at the Linux Foundation, told Cointelegraph that most of her work focuses on building open standards for verifiable credentials. Young noted that community collaboration is a key requirement for setting open-source standards, and pointed out that the women’s perspective is critical. “Sometimes it’s underestimated, but a woman’s perspective is crucial if we want to create a new layer of the Internet where all people are empowered,” she said.
In addition, the inclusion of women’s perspectives is extremely important, especially when it comes to creating a new financial system that promises blockchain technology. Denelle Dixon, CEO and CEO of the Stellar Development Foundation, told Cointelegraph that financial systems have historically been created by men. As such, Dixon noted that these systems lacked brand in providing experience for the entire population.
Fortunately, Dixon believes that more opportunities are opening up for women to develop blockchain companies, and points out that there is already a strong leadership team at the Stellar Development Foundation.
Gender diversity can lead to better products at the enterprise level
While women’s perspectives can help ensure efficiency and user-friendliness for enterprise platforms and open-source initiatives, gender diversity can also help create better products.
Article from Harvard Business Review repeats This, noting that numerous studies have shown that employees in diversity-friendly regions such as the United States and Western Europe favor a gender-friendly work environment. As such, studies show that the most talented individuals tend to work in places that are diverse by gender, which ultimately leads to better performance.
Daniela Barbosa, vice president of global alliances The Linux Foundation, told Cointelegraph that, like any other technology industry, diversity in the enterprise blockchain space is important for creating solutions that address the needs of society rather than a few:
“We already know that gender diversity in AI product development or teams leads to better and more usable products.” Gender equality is equally important in building blockchain networks that address everyday use cases. ”
For example, Barbosa explained that creating a supply chain network to ensure sustainable food production must address multi-party financial inclusion, including a non-banking, fully banking or even financial system, which makes bankers and suppliers paid faster with less risk. “The development and deployment of these networks will benefit from a variety of approaches and experiences at both the technical and business levels and will be better configured to meet user-friendly design and efficiency goals,” she noted.
Ryan Rugg, a leader in blockchain services at IBM Global Business Services, told Cointelegraph that he is leading the US blockchain team at IBM – for example, launching New York COVID-19 Vaccination Management Solution, based on IBM Blockchain’s Digital Health Pass.
According to Rugg, gender diversity has helped lead to many successful engagements. “Diverse teams lead to different perspectives, ideas and are ready for immediate innovation. We want people to challenge each other and have constructive dialogues, “she said.
Fortunately, the open nature and inclusiveness of the blockchain space may force more women into the forward sector. Progress has already been made and a report from CoinMarketCap shows that the number of women in the cryptocurrency industry has increased 43.24% in the first quarter of 2020.
Sheila Warren – Head of Data, Blockchain and Digital Assets at the World Economic Forum – Cointelegraph said that overall hiring and retaining teams representing different perspectives leads for better results. Warren noted that the promise of blockchain technology provides an opportunity to build from the ground up:
“If done intentionally, it will correct some of the inequalities we see in technology today.” Without different perspectives in the room, it is very likely that we are in danger of replicating or even deteriorating. “
It is also important to emphasize that women do not need previous blockchain experience when entering the sector. Leanne Kemp, CEO of Everledger, an enterprise blockchain company for supply chain management, told Cointelegraph that women can bring valuable community-building skills and help provide a long-term strategic vision, even if they do not have a blockchain background. “Skills such as determination and attention to detail are easy for women to gain, making them a valuable asset in this growing technology,” she said.
Ways to involve more women in a blockchain
Given the importance of gender diversity in technology, many believe that education, mentoring and job opportunities will ultimately attract more women to the blockchain space.
For example, when there are many open-source projects in the enterprise blockchain space, Ofranc mentioned that there is a clear lack of diversity. She explained that she would like to see the greater reach of open-source organizations, especially universities and young women, in order to raise awareness of the benefits of contributing to open-source or open-standard projects.
Employment opportunities for women can also help acceptance. Ofranc noted that while there are many technical and business positions in the corporate blockchain space published on companies’ websites, many of these websites satisfy the audience of a particular demographic group. Konda added that hackathons and conferences are another great way to introduce women to blockchain.
Warren noted that companies must make women’s involvement a priority. “Look at your work processes – where are you recruiting from?” Is your pipeline diverse? If not, you can take steps to include more women. “
Warren added that companies need to think long-term about investing in the next generation of female leaders in the blockchain. To ensure this, Anna Frankowska, chief commercial officer of Aventus Network, a second-tier blockchain protocol company, noted that industry models will support more women entering space in the long run:
“The more women enter and succeed, the more women enter and succeed in a self-sufficient virtuous cycle.” Opportunities exist, and I know firsthand that we are calling for excellent people, and there is no gender monopoly on perfection. ”