By James Davis
For many years, there have been several inequalities between women and men in terms of financial capabilities and work, among others. However, it is now possible for women to be financially empowered, thanks to blockchain technology. The nascent space is gender-neutral and grants access to anyone regardless of their identity or background. All you need to get started is good internet connectivity and the knowledge of how the decentralized web work.
There are numerous ways for women to be part of blockchain projects. For example, they can participate in DAOs (decentralized autonomous organizations), mine or stake cryptocurrencies and run a node. Additionally, with the growing number of female Web3 developers, they can explore other opportunities, like building DeFi (Decentralized Finance) protocols.
Interestingly, a recent report shows that 51% of people looking to buy crypto assets for the first time are women. This means there will be an increase in female traders in the coming years.
Why is Blockchain a Good Space for BusinessWomen?
Considering blockchain is still in its early days, only a few established ethos are available. Therefore, this provides an excellent opportunity for female entrepreneurs to step into the space and set themselves as pacemakers.
Furthermore, as a decentralized technology, blockchain eliminates intermediaries such as banks which are largely operated by men, leading to more inclusivity and diversity in entrepreneurship. Also, unlike other industries, where one must possess multiple qualifications to succeed, blockchain only requires an entrepreneur to have the ability to solve problems through the technology, thus eliminating various entry barriers for women.
Seven Blockchain Projects That Women Can Build
Not only do blockchain Projects encourage female entrepreneurship and create new job opportunities, but they also promote women’s rights. Here are some projects that women can consider developing:
Preventing Gender-Based Violence
Businesswomen may consider developing a blockchain-based platform that provides an anonymous and secure channel for victims of gender-based violence to report incidents. In addition, the platform can offer a trustless way for authorities and organizations to respond to such cases.
Providing Financial Services
A female entrepreneur can build a platform to offer women financial services like loans, which are essential for female empowerment, considering that women usually struggle to get such services in traditional financial institutions.
Supply Chain Tracking for Female-Owned Firms
Blockchain makes it possible for women to develop platforms that enable businesswomen to track and verify the origin and authenticity of the products they use on a daily basis.
A Decentralized Registry for Female-Owned Property
A female developer may create a blockchain-based solution that offers transparent and secure land ownership records for other women. This will make it easy for them to prove ownership of properties which is usually a huge challenge in many countries.
Reporting and Monitoring Solutions for Women’s Rights
Women may collaborate with organizations that fight for women’s rights to develop a blockchain-based protocol to educate girls about their rights and provide a channel to report when they are violated. Women’s rights advocates can use the platform to gauge whether violation cases are increasing or reducing.
Collaborative Communities to Encourage Education
As part of female empowerment, a female developer may decide to create a blockchain project that lets women connect and share their various professional milestones.
An Investment DAO to Encourage Female Entrepreneurship
Female developers can decide to build investment DAOs to enable female entrepreneurs to access funding. This makes it possible for women to compete fairly with businessmen. After providing funds, the DAO may provide further support, like connecting the female entrepreneurs with prominent investors to mentor them.
Challenges Faced by Women in Blockchain Industry
A recent study indicates that only 4% of the top Web3 firms are managed by women. Numerous barriers may be blamed for contributing to this low percentage. For example, since blockchain technology is considered highly technical, many women usually feel intimidated, prompting them to think they’re not skilled enough to enter the space.