Women working in the blockchain sector are still few and far between. While exact statistics are unclear, technology has, in general, remained a male-dominated field. For instance, a recent report from Deloitte found that only 7% of fintech startup founders are women. The report also noted that startups founded and co-founded by women have struggled to raise funds during the COVID-19 pandemic.
Big surprise, women are underrepresented among blockchain startups. It’s a trend that’s pervasive throughout technology and Silicon Valley in particular. But blockchain, the technology underpinning cryptocurrencies, has the potential to be better, considering its mission is one tied to decentralization and a level playing field for all. In some ways, however, women have struggled to compete in a male-dominated culture whose fortress is reportedly protected by cliques like the “blockchain bros,” according to a recent New York Times article. The trend does not appear to be limited to startups, as evidenced by research suggesting women only represent between 4% and 6% of blockchain investors. While it’s still early innings for blockchain, that makes this gender imbalance that much more concerning, as it’s during the early days of an emerging market that new wealth is created and influencers born, setting in motion of chain of events ranging from investments to hiring behavior.