Women invest in Blockchain they believe in, seeing it as a way to “make the world a better place”
Only 5-7% cryptocurrency users are female. No matter your gender, if you’re curious about blockchain or cryptocurrency, you should be interested in what draws these women towards this technology.
How did I end up here?!
I am a woman, the last time I checked. I am also working with a crypto consultancy and crypto mining hardware manufacturer. Don’t worry if you’re reading that as if it may as well be in Chinese! I’ll explain a little about blockchain and crypto shortly. This is certainly not where I expected my life to go. I’ve written another piece about my journey into crypto. Honestly, I’ve always described as a ‘technophobe’. When I said that, it essentially meant I wanted someone else to do the clever techy bits and just leave me to enjoy the benefits, blissfully ignorant to the witchcraft in my mind that makes things work.
So somewhere between there and here, I’ve ended up working in a company that only exists because of blockchain, a technology that I truly believe will change the world. I’m not alone in this but I am much more alone as a female in this industry than I’d like to be. I’ve become increasingly confused and frustrated at the lack of diversity in this space. This has made me increasingly curious about how women who are into crypto got here. Surely, they didn’t all fall into like me?! Well, no they didn’t.
The women in this space are here for a purpose.
Part of my role involves consulting on how people use blockchain technology and cryptocurrency. I look at who invests, how much, which technologies they invest in and, most importantly, why. I’ve found some pretty interesting things but the gender divide in terms of motivation has helped to answer some of my burning questions. From my experience, men tend to invest in cryptocurrency for financial gain. There is absolutely nothing wrong with this and, in my opinion, more women need to get a piece of this pie too. However, I noticed a difference in how women in invested. From speaking with women on multiple platforms and forums, one thing stood up.
Women invest deliberately in blockchain they find value in. For example, one woman on a crypto for women forum told me she was backing blockchain “which is making the world a better place”. This fascinated me. She was referring to Ambrosus, a cryptoasset which aims to make the food supply chain more transparent. Research has shown that women are more likely to be concerned about issues such as food production, carbon footprints and healthcare. If Blockchain technology is revolutionising the way we tackle them, women surely have a vested interest in getting involved.
Is it revolutionising this?
Well, simply put yes. Blockchain is inherently designed to promote transparency, equality and inclusion. How? To answer this, here’s the part where I delve a little into the tech… stay with me.
Blockchain technology was first used by the pseudonymous Satoshi Nakamoto in the development of what we now know as Bitcoin. It was developed as a response to the financial crisis of 2008, recognising that having risk-taking boys’ clubs (think Wolf of Wall Street) in control of the world’s finances was a bit of a problem. Blockchain is the software platform that allows cryptocurrency to run as a truly decentralised (non-government backed), secure system. Blockchain technology allows digital information to be distributed but not copied. For this reason, it underpins anything that required large amounts of computer power including machine learning, graphics rendering, big data analysis and weather.
A shared, continually updated database records block chain information. The Blockchain database is not stored in a single location. Therefore, records are entirely public and easily verifiable. Millions of computers host the database simultaneously and anyone can access its data, ensuring transparency within the entire network, thus increasing public trust in the system as compared to the current (fiat) monetary system. Transparency leads to democracy, which ultimately does “make the world a better place” as the lady who inspired me to write this blog believed it would.
So how do I go about getting involved?
As a female in this space, I’m always happy to help more women get involved! Check out my other blog posts on where to start and if you have any questions, you can always contact me at Eliza@easycryptohunter.co.uk or through @Easycryptohunter on social.