New LongHash Data Shows Blockchain Startups are Predominantly a Man’s World
With so much attention around the gender pay gap, women’s equality, and feminism lately, it should come as no shock that the blockchain industry has not been exempt from collecting data on the subject. In a new article from The Next Web, it appears as though the blockchain world is far from even, with about 85% of blockchain startup employees being male.
Based on data from LongHash, it was also found that women only hold an executive position in about 7% of the crypto companies. They seem to be more often in the position of an advisor, but even that statistic is only one percent higher. To find these statistics, LongHash examined a total of over 1,000 team members, which came from about 100 blockchain startups that had only recently been launched. Along with these staff members, the researchers also included 326 founders and 473 advisory board members.
Ultimately, LongHash discovered that 85.5% of the surveyed employees were men. However, to make the gender gap even more prominent, there were 78% of the startups that didn’t even have a female executive on board at all. Of the same 100 companies, no women were employed in any role at all at 37 of the startups.
New advisory roles aren’t that much different in their analysis, finding that 75% of these positions were also male. Even if they just eliminated the two startups that were made up of 25% women, there would still only be 6% of the positions like these filled by women.
Unfortunately, the data collected solely on blockchain startups is mimicked throughout the cryptocurrency industry. A research study in Circle showed that women were only half as likely to get involved in cryptocurrency as men. In a study by eToro, the firm examined the users in the crypto industry, discovered that less than 9% were women. Furthermore, the individuals that engage in social media posts about cryptocurrency are rarely female as well.
Switzerland’s Crypto Valley Association seems to be one of the few entities that is working to do something about the gender imbalance. They issued a policy that now employs a mandatory minimum of two female board members. There is no exception for this policy, and the association even noted that the board would be increased from five to seven members, if necessary.
So far, there’s no way to tell if other blockchain businesses will take note, or if they will remain complacent.