The economic downturn from 2008 to 2009 led to the invention of Bitcoin (BTC), creating a new financial system that is now growing and evolving rapidly. At the time, the Harvard Business Review published an article entitled “The Women’s Economy,” which suggested that around $ 20 trillion in annual global spending was controlled by women, and “that number could grow to $ 28 trillion over the next five years. . ”
Also in 2009, Claire Shipman and Katie Kay released Femme: Write Your Own Rules for Success. Although the term “feminine” and the concept itself were coined in 1999 by Kathy Matsui, vice president of Goldman Sachs in Japan, Shipman and Kai introduced the concept to the American public in 2009, which clearly signaled an important paradigm shift in society.
More than two decades have passed since Matsui introduced the science of women, and it has become clearer than ever that women now play a leading role in the development of the world economy. For example, China produced the largest number of self-employed billionaires, and Japan surpassed Europe and the United States in female participation in the labor force.
Meanwhile, the situation is far from perfect. The gender imbalance is still large, especially in the economic area. As stated in the Global Gender Gap Report 2020, published by the World Economic Forum, economic inequality is growing, “with the deterioration of the situation, ensuring gender parity to a low level of 57.8%, which over time represents 257 years before it can achieve gender parity ”.
Related: Diversity and Inclusion in Blockchain and Cryptocurrency: Gender Dimension
While there are signs of positive trends to bridge the gender gap in the crypto space and blockchain and move towards diversity and inclusion, a serious gender balance in the cryptocurrency world has been highlighted by new data from eToro showing this from the beginning of 2021. only 12% of ETH traders and 15% of Bitcoin traders are women.
Statistics and data are always anonymized, and only one side of the image is displayed. The most important thing is to hear the voices of the people in question. This reached the Cointelegraph to cryptocurrency and blockchain experts for their views on the following questions: What role will the crypto industry play in the global economic engine? What role do women play in the process of decentralization and development of the world economy? What opportunities and challenges do women face in the ecosystem and in the financial sector in general?
Anino Emva, founder and director of Avandis Consulting:
“The women’s economy is important and growing rapidly, and represents an important opportunity in terms of both customer base and talent. Recruitment and promotion of women in management positions is profitable and contributes to the growth of the economy as a whole. Deloitte estimates that 10% of global GDP will be built on blockchain applications by 2025, so it is expected that cryptocurrency and blockchain technology will play an important role in the future of the global economy, with the potential to achieve social, inclusive and economic growth. . vulnerable groups in the financial sector, often women, by facilitating access to capital and financial services.
It’s time for women to influence the growth of this industry early, so that diversity and inclusion become an integral part of the substance itself, and products and services are designed with women in mind. Most importantly, women must exploit the exciting potential in terms of jobs, entrepreneurship and wealth creation that the industry provides. This means educating women about the different ways the industry provides opportunities, and so that civil servants can create a more inclusive environment.
Anu Bhardwaj, Founder of Sheqonomi:
“We have over a billion people on earth who do not currently bank, and over two billion women in color currently lack access to banking – especially blockchain and decentralized financing have enormous potential to disrupt global industry. financial technology.
As technology becomes easier to use, adoption will grow, especially in emerging markets, as we see an increase in the adoption of digital assets that empower women globally.
Women have an enormous potential to bridge the gender gap if they have access to affordable and costly disruptive technologies based on artificial intelligence and blockchain, such as the mobile apps we are currently building specifically for them. “