While there have been a dramatic amount of milestones that have been achieved by the blockchain and crypto space over the last few years, we can't help but drop the moral cinderblock on it when it comes to the notion of gender equality.
The faulty mathematics aside, recent research has shown that, among those active within the blockchain and crypto spaces, roughly 5 percent of crypto users are female, compared to the male majority. For a tech-oriented, coding world like the crypto and blockchain space, is this a startling revelation? No, not really, but the fact that women do not feel as confident in entering the space doesn't set a positive precedent for this allegedly ‘disruptive' technology.
This increase in diversity makes a world of sense for the crypto world, especially when we pause to consider the fact that 75 percent of the world's purchasing decisions are interdicted by women, and women have proven to be the greater consumer-based activists throughout time.
It's with this in mind that pushing for greater inclusion of women into the worlds of blockchain and crypto can help to profoundly, and positively transform the landscape of crypto.
One of the interesting revelations that do come out of this new wave of research includes the following: women, in some instances, make for far better crypto traders. Oddly, this is something that doesn't surprise me as much as other factors, and the research goes a long way to empirically prove and demonstrate just why this is the case.
A Woman's ‘Intuition' About Bitcoin
While people can be as dismissive or accepting of this as they want, women seem to have a far better intuition as to when Bitcoin is set to rise and/or fall. Here is one of the examples they found that through playing a series of matches on BuySellHodl (a cryptocurrency predictor app), they found that the first and largest winners were women.
One of the most significant statistics that was found is the fact that their prediction rates were slightly higher than men on average. With women able to make correct predictions on Bitcoin roughly 58 percent of the times estimated. This is in contrast to men, who had a success rate of 51 percent on the same predictions.
One thing that can explain some of the reasoning behind the ability to predict with greater accuracy is the. fact that 16 percent of women identified themselves as cryptocurrency experts or professionals. Which is in contrast to 9 percent of men who said the same about themselves.
There is far more to this research as well.
Women Have the Bigger Horns – Women More Bullish on Bitcoin
When compared, 7 percent more women were likely to give Bitcoin a recommendation to buy at this point (68 percent), while men were slightly more skeptical towards the prospect (61 percent). Placing an end of price predictions for Bitcoin in 2019 at roughly $8,389.
For women involved in the cryptocurrency space, the majority identified Bitcoin as their preferred choice of cryptocurrency to invest in, with 61 percent highlighting it as their preferred pick for this year. Men, by comparison, tended to have their preferences on a range of other Altcoins, along with 48 percent listing bitcoin as being in their top three cryptocurrencies to invest in.
It turns out that women are also slightly more bullish when it comes to the subject of Ethereum as well, with more than 65 percent willing to give a buy prediction on ETH as well as LiteCoin (64 Percent).
Long term, only 23 percent of men believe that Bitcoin's price by 2020 will reach $10,000 or beyond, while 6 percent more women believe that it will. Women that are more patient in their crypto investing are also placing Bitcoin at $25,000 in terms of value come 2025 (53 percent, in fact).
So do these statistics demonstrate that women are our genetic superiors when it comes to cryptocurrency investment? Not really, but it does demonstrate that there is at least some intuition that they bring into the equation.
Another factor that this does go on to demonstrate is that there is a hardcore of women out there that are already involved in the crypto space, and they are working to really level out the field, inspiring women in the process. These more savvy, adaptable women demonstrate that they're a much-needed addition to a male-dominated area.
Crypto's Super Women
If there ever was a need for leaders to guide us into the world of blockchain and cryptocurrency investment, then for women, there is no better candidate than Perianne Boring. In spite of her surname, she is a die-hard advocate for getting women involved in the world of cryptocurrency, and she doesn't simply talk the talk, she walks the walk as well.
Working as the president and founder of the Chamber of Digital Commerce, she has created a leadership team which has an interesting spread of male to female members; split 50-50. An interesting initiative which we will see evolve over time.
Along with Perianne is the proverbial vanguard of the revolution, headed up by the former executive of the Blockchain Center of Excellence within JP Morgan – Amber Baldet. Instead of sticking with the multinational financial institution, she has since moved on to forge her own path with her own crypto-based venture referred to as Clovyr.
Much like her counterpart, Amber has obtained a much-appreciated reputation as an empowering individual, encouraging her female peers to get into the world of cryptocurrency as well. Her opinion is very much a common sense one: that the ability is there, but the environment doesn't help, going on to express that “Many projects welcome women with open arms, but repeatedly positioning the entire space as unwelcoming causes a negative feedback loop that dissuades people from getting involved.”
The emphasis that Amber hinges her platform on is that women should act and think for themselves, while not allowing for them to be illogically dissuaded from the world of cryptocurrency. To put this in another way: if investing in some kind of cryptocurrency, Bitcoin or otherwise is in a woman's best interests, then they should feel comfortable pursuing it with all of their capabilities.
Among these influential names as well, one is very. much deserved among them – and that one is Neha Narula, who had previously worked for Google as a software engineer, owing this position to her own capability and merits as a PH.D graduate, specializing in computer science from the Michigan Institute of Technology (MIT).
Regardless of your chromosomal situation, everyone should feel compelled to listen to her TED talk for the kind of open door that it provides for newcomers to the cryptocurrency space. Called ‘The Future of Money,' it is a talk for anyone looking to obtain a foundation level of comprehension for the theories which stand just behind the technology in cryptocurrency, and why exactly it boasts such a profound level of potential and represents such a disruptive force within the global economy of tomorrow.
All About #Balance in the Crypto World
It is women like these that help to really pave the way for more women to enter the cryptocurrency world free of any fears and optimistically contributing in their own way to positively shape the industry. While these are some of the names out there helping to shape the landscape, there are plenty more out there working assiduously to break through the glass and sweep it up so that later generations will never know it was there.
Some other role models for women include Elizabeth Stark, Arianna Simpson, and a whole wide world of women working to shape and change cryptos as we know them.
So what does the cryptocurrency world need in order to become a better and more dynamic industry? Same as is needed for any other kind of industry: empowerment of these groups, including women, that otherwise feel nervous about entering the crypto world properly.
This research represents just the beginning of an analytical look at what women have the potential to excel in when it comes to the world of blockchain. For all we know, and science is pending, women may very well be better at wide spanning areas as startup ventures and new companies. There are already some statistics out there that demonstrate that women are more effective at obtaining seed capital or some kind of capital investment towards their business.
According to research conducted by Forbes magazine, women were 9 percent more successful than their male counterparts in obtaining 100 percent funding from crowdfunding websites such as Kickstarter of GoFundMe. What this demonstrates is that they are a great addition to any startup company looking to move from a small challenger company to a full scale, mass adoption ready industry.
It makes perfect sense that these pieces of research come out when they do, especially as we count down the days and hours until the beginning of International Women's Day, which begins on March 8th.
“IWD is a global day celebrating the social, economic, cultural and political achievements of women. The day also marks a call to action for accelerating gender parity.”
One can only really hope that this years Women's Day celebration will help to inspire more women to take a more active approach towards the cryptocurrency industry and market.