On April 24, the 'Women in Crypto for Boards' event in London gathered women at the C-level and Board-level from the digital asset sector to discuss the underrepresentation of women in Web3. The event aimed to highlight both the challenges and opportunities for promoting gender equality in this fast-growing field.

Tim Connolly, the event's founder, emphasized the significance of diversity for improving business profitability and governance. Connolly’s dedication to gender equality is rooted in his personal experiences with his mother and sisters, which set a passionate tone for the discussions.

Challenges in Representation

A major topic was the gender disparity in the crypto industry. Elizabeth Rosiello, CEO and Founder of AZA Finance, highlighted a unique issue: many crypto companies lack traditional board seats, limiting opportunities for women to attain leadership roles. Hedwige Nuyens, Chair of 'European Women on Boards' and CEO of the International Banking Federation, pointed out the compounded challenges due to the male-dominated nature of both technology and finance sectors.

Visibility and Networking

The importance of visibility and proactive networking was a recurring theme. Jeanette Seng, Global Partnerships Managing Director at FIS, stressed the need for women to support each other for board positions. Hemilly Rodrigues, Founder & CEO of R&Co web3 AI agency, emphasized maintaining a balanced approach in interactions. Nuyens advised women to enhance their profiles on platforms like LinkedIn to increase visibility and access to board opportunities.

Educational and Institutional Support

Education and institutional support were deemed essential for fostering diversity. Panelists called for company training programs to educate employees on diversity and inclusion benefits. They also discussed the role of regulatory bodies in mandating diversity, citing the European Banking Authority's impact on bank boards as an example.

Quotas and Targets

The topic of quotas was extensively discussed. Some participants suggested quotas for conference panels to ensure female visibility. Elizabeth Rosiello advocated for quotas as a necessary step to drive change, noting the industry's resistance to change. Nuyens added that although quotas are often resisted initially, they lead to positive outcomes, improving business performance and environmental scores.

Utilizing Media for Advocacy

The role of media in changing perceptions and inspiring future generations was also highlighted. Panelists suggested using traditional and social media to showcase successful women in the industry, helping to dismantle stereotypes and attract more women to Web3.

The roundtable concluded by recognizing the progress made and the work still needed. Enhancing visibility, implementing educational programs, setting quotas, and leveraging media are practical steps to achieve gender parity in Web3. As Nuyens stated, it’s about engaging in the dynamic of the discussion.

The Women in Web3 roundtable served as a powerful reminder of the collective effort needed to improve representation and work towards a more inclusive and equitable future in the industry.