The blockchain industry has the potential to break barriers and promote inclusion. However, it is at a crossroads at the moment. You’d find that women are not given as much room for expression in this space, unlike their male counterparts. Inclusion and diversity have a great part to play in the adoption of Web3 and women have a significant role in making this happen. Yet, they are still underrepresented in the industry, just as they are in other industries of the world. In a Triple-A study, just 37% of cryptocurrency globally is owned by women, of the over 420 million people that hold cryptocurrency in 2023.

I can imagine a world where women are fully represented if not in all industries, but at least in the blockchain industry- A world where women are given the same opportunities to be innovative and hold leadership positions. This world is possible and with the aid of blockchain technology, an equitable and inclusive world can come to life. To do this, we must break down the barriers that limit women from fully participating in the blockchain industry.

This article will look into the challenges and opportunities that exist for women in blockchain. It will also explore some success stories of African women in the blockchain and look into strategies that would help create a more inclusive future where women will be fully represented.

Challenges Experienced by Women in the Blockchain Industry

The challenges women face in the blockchain industry limit them in so many ways from living to their full potential. Here are some of these challenges:

Absence of Role Models and Mentors: Due to the lack of inclusion in the blockchain industry, there is only a handful of women occupying leadership positions in the blockchain industry. This can make it difficult for those coming up to have someone to look up to. Thus, the ripple effect of having women who have no idea how best to navigate whatever career path they have chosen becomes a thing of the day. According to a 2021 Global Crypto User Index study, of those working in the blockchain industry, 95% of them are men.
Gender Stereotypes and Discrimination: The level of stereotypes and discrimination in the blockchain industry is extreme. They face discrimination in hiring, promotion, decision-making, etc. For example, a woman who is a blockchain developer can be stereotyped as being less knowledgeable about blockchain technology than men, even when she has shown over time that she knows her onions.
Unconscious Bias: This is mostly seen during hiring. Hiring managers would usually feel more at ease giving a role to a man who is less qualified, than giving it to a woman who is more qualified than the man. The same scenario comes up when promotion is to be done as well.
Lack of Access to Funding and Resources: Now, let’s look at funding and resources that would help in improving Web3 adoption, a woman may be less likely to receive funding from an Angel investor if she and another man are applying at the same time. It’s usually harder for the women, as they have to do x10 than what a man would normally do just to prove themselves. In the end, they might still not get the required funding.

Opportunities Available For Women in Blockchain

The blockchain industry is still in its early development stages. Thus the opportunities that can be leveraged by women are enormous. Here are some of these opportunities in case you are looking for a way to fit in and contribute despite the challenges:

Technical Roles: The demand for technical talent in the blockchain industry is sure to be ever-increasing. Such technical roles include blockchain developers, cybersecurity engineers, software engineers, frontend developers, backend developers, etc.
Non-technical Roles: Apart from the technical roles, there are also non-technical roles where you can fit in if that is what interests you. These roles require you to have skills in Marketing, Sales, Community Management, Business Development, HR, etc. If you don’t have a technical background, then you will do well in this field.
Entrepreneurial Opportunities: If you happen to be of an entrepreneurial spirit, then this is an opportunity that would fit you perfectly. You can develop your start-up in conjunction with other people who would make up for the skills you lack. You just need to be able to handle the leadership role this would come with. There are many venture capital firms as well as Angel investors who are interested in providing funding for startups with innovative ideas.
Investment Opportunities/ Financial Freedom: The blockchain industry also provides an avenue to invest. It allows you a chance to be financially free through trading cryptocurrencies and NFTs, investing in startups, lending, etc.

Success Stories of Leading African Women in the Blockchain Industry

Despite the challenges facing women in the blockchain space, some women have chosen not to be perturbed by this. They have continued to keep thriving and serve others to follow. Here are a few of them who are actively involved in the blockchain industry. I hope they inspire you to keep pushing and becoming better every day:

Imen Ayari: Ayari from Tunisia, is an expert in blockchain technology in Tunisia. She is a strong believer in the use of blockchain technology in solving social as well as economic problems in Africa.
Roselyn Gicira Mwangi: Roselyn from Kenya, has headed the Kenyan Women in Blockchain since 2017 and served as the chairperson of the Blockchain Association of Kenya from 2019-2020. She is famous for her efforts in promoting innovation of disruptive technologies including blockchain startups and is doing major work in East AFRICA based on this.
Olayinka Odeniran: Olayinka from Nigeria, is the co-founder of the Black Women Blockchain Council (BWBC). She aims to increase the number of young black girls in blockchain, fintech, and other emerging technologies. She is also a renowned speaker and has been invited to speak at multiple blockchain conferences.
Sarah Idahosa: Sarah from Nigeria, is the founder of the WomenInDefi Community. This community has a mission to make women discover their Web3 potential and learn more about the blockchain industry. By providing mentorship and access to information, WID as it’s popularly called is providing a stable foundation for women to kickstart their careers in Web3.
Oluchi Enebeli: Oluchi from Nigeria is a blockchain developer, She is the founder of Web3Ladies- a non-profit Web3 community with over 15,000 members across Africa. With this platform, she has helped in mentoring and empowering women in the blockchain. According to her, “By empowering women in technology, I aim to drive innovation and create a more diverse workforce in the blockchain industry.”

Strategies to Build a More Inclusive Blockchain Community for Women

How can everyone join hands in creating a more inclusive community in the blockchain space where women would be accepted and not be discriminated against? Here are some strategies that could help:

Educating people about gender stereotypes and unconscious bias.
Sharing the accomplishments of women in blockchain.
Creating mentorship programs and support programs where women can get access to those at the top rung of the ladder to learn and advance their careers.
Advocate for policies that promote women thriving in the workplace.
Giving women more opportunities to showcase their skills.

With these steps, we can work together in creating an industry where there is inclusion and everyone has the same opportunity to hold leadership positions and bring innovation.

Conclusion

If you are a woman interested in pursuing a career in the blockchain industry, then do all you can to get equipped with knowledge about the ecosystem. You can do this by taking online courses, reading books, joining communities like WomenInDefi, Web3Ladies, etc.

Another way is to get involved in the blockchain industry via networking, attending online and offline events, etc. You can also find a close or distant mentor in the niche you are interested in. Don’t be afraid to take risks and be the change you want to see. It’s time to get involved and keep showing up.