The world of Web3 has opened up new opportunities for people to participate in a more open and transparent Internet and create wealth. However, despite the potential benefits of this emerging technology, women face unique challenges in the Web3 space. From a lack of diversity in the industry to gender bias in funding, women face significant obstacles that make it difficult for them to thrive in the decentralized network.
To better understand these challenges, Cointelegraph interviewed several women on Web3. Devon Martens, Principal Blockchain Engineer at Sweet NFT, shared her observations that the crypto industry, like many other tech and financial sectors, is dominated by men. Martens noted that this lack of representation can be a barrier to entry for women who may perceive themselves as outside the norm.
Martens shared his observation that he rarely sees women in the C-suite when examining web3 startups and their management. She noted:
It’s hard to chase something as a concept and it feels a bit more realistic when you already see people in those roles. That’s why it’s so important to talk about what we can do to cultivate talent across the board, including encouraging women to get into the space.
Similarly, Sandy Carter, COO and director of business development for Unstoppable Domains, noted that women make up just 12.7% of the Web3 workforce, highlighting the need for more diversity within the industry. . In her experience, Carter has observed a significant gender gap in job applicants, with only 3% of candidates for a recent position at her company being women.
Carter shared;
When I announced that I was joining Unstoppable Domains, I included a link to apply for another position with the company; out of over 1,500 applications for that job, only 3% of the total applicants were women, and this stuck with me.
Briana Marbury, CEO of the Interledger Foundation, discussed the issue of gender stereotypes in the crypto industry, noting that it is often perceived as male-dominated and characterized by a strong “brother culture” that does not welcome to anyone outside of the industry. “pale and masculine” category. Unfortunately, this stereotype can often discourage women from participating in the space. Marbury added:
“People, especially women, can often self-deselect from pursuing potentially lucrative, rewarding, and purposeful careers in crypto, or technology in general, because they believe it’s ‘not for people like them.’ Intentionality is key here. There must be a lot of intent in the crypto space to shift old tropes to new and inclusive narratives.”
According to Daniela Barbosa, executive director of the Hyperledger Foundation, diversity is crucial to creating better and more robust technologies. She stated that “Study after study reveals that diversity in technology creation produces better results and stronger technologies, that diverse communities are simply stronger communities.” However, she also recognized that exclusionary behaviors can influence community cultures, and this is a challenge in the crypto industry.
Barbosa highlighted that the crypto industry has a heavy focus on developers and traders/financiers, two communities that are still sadly underrepresented by women. “In crypto, I still see a lot of toxic behavior, involving aggressive language and innuendo towards particular groups or individuals,” she shared. This toxic behavior may further discourage women from entering the industry, creating a double challenge when it comes to gender in the blockchain crypto space.
Related: Binance Co-Founder He Yi Says: ‘Forget Gender’ And Focus On Mindset To Succeed On Web3
The lack of gender diversity in the industry is a pressing issue that needs to be addressed. As Barbosa pointed out, diversity leads to better results and the exclusion of any group can hinder progress and innovation. It is essential to create a more inclusive culture that supports and encourages women to pursue careers in the Web3 industry.
Overall, promoting gender diversity and inclusion in the Web3 space is essential to creating a more vibrant, innovative and successful industry. By taking intentional steps to address the unique challenges women face in the industry, the ecosystem can help ensure that Web3 is a welcoming and accessible space for all.
