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Illusion or not? Blockchain brings People together, really?

Blockchain, say the experts, isn’t a passing craze. It’s a technology that will take over the world, just like the internet back in the early 2000s. The internet succeeded in bringing young and old, rich and poor, black and white together. 

Is blockchain managing that? Not so far, but things are changing. For the first quarter of 2020, crypto exchange CoinCorner revealed a female proportion of 14.7 per cent. Tiny, but much better than the 10 per cent share at the start of the year. 

Only 15 per cent of bitcoin traders are women but, similarly, the percentage of female investors slightly increased from 10 per cent at the start of 2020, indicating a demographic change amid a surge in the price of bitcoin. The situation is similar with ethereum, which saw the percentage of female investors rise slightly from 11 per cent to 12 per cent at the beginning of the year. 

Heloise Greef from Oxford University told Markets Insider the pandemic helped matters. “Investing has typically been the preserve of an elite club,” she explained, “but now that much of this has been pushed online, anyone with a thematic interest can join.” 

The figures are encouraging, but Fyggex was speaking to Laura Degiovanni, founder of TiiQu company, who explained to us just how dire the situation used to be. Now at the top of her game, Degiovanni almost threw in the towel when she attended her first meetups held, she said, in dark halls with chauvinist men drinking barrels of beer. 

The pandemic spelled a temporary end to them, thank goodness. German Ramirez, co-founder of The Relevance House, told Fyggex that the lack of female representation is down to education and, as a result, interest. Female representation in IT has declined since the 1980s. He asks why we’re obsessed with “50 percent of everything, everywhere.” Admittedly, his company figures are impressive (seven women, six men), but should we be convinced it’s down to a traditional education? Are quotas really a bad thing?

The pandemic may be helping women reach the top, but blockchain clearly has a way to go. Its aim, however, is to unite the world. And  half the world are women. But many are poor. Not to mention ethical minorities. Are they side-lined? It’s not for nothing some are asking whether blockchain can be used to achieve both gender and  racial equality.

 

 

 

 

Image: Gerd Altmann 

*Disclaimer: Fyggex, does not give any guidance, advice or recommendations to neither invest or not in any available cryptocurrency directly or indirectly via any trading platform, exchange or provider. Our sole purpose is to make you aware of the related real or potential risks and opportunities so that you can make your own research prior to any financial decisions you may want to take. Past performance and position are not a guarantee of risk-free future returns.