It came to my attention that my husband enjoys explaining modern technologies like cryptocurrencies and the blockchain to our son. However, he does not take the same approach with our daughter, despite the fact that she's our older child. Upon my inquiry, he went on to explain that the theme does not really fit or apply to girls because they are not good at the subject. His answer made me think why there is no major lady or woman figure in the crypto world.
Not only is this true and applicable to our environment, but to the world at large. It is a fact that Bitcoin users remain unknown due to its decentralized network which operates on a user-to-user basis. Experts estimate that 95% of Bitcoin users are males and 5% are females. Why is there such a great imbalance? Will the imbalance affect the crypto market in the near future? Most importantly, what can be done to bridge the gap between male and female users of cryptocurrencies?
Cryptocurrencies gained popularity at an early stage within male-dominated platforms like 4Chan, Reddit, and the cyberpunk community. In began as a hobby to males who are tech-enthusiasts. For this reason, they gained popularity among males leaving out females especially in discussions about them. It was considered a male topic’ so it became unusual to discuss them with females.
Since the 'crypto world' became public or popular, the stereotype started fading away since more businesses and investors became interested in currencies not regulated by central authorities. Still, females seem unconcerned with investing in the crypto market.
The notion that men tend to be risk takers than females, physically and financially, can be a logical explanation to this. However, risk-taking does not always pay off. Although it may bear fruits, at times men may board a sinking ship without them realizing that they will eventually drown. In simple terms, when you notice that females do not invest in some 'goldmine prospects', there is a possibility that such ventures will possibly not succeed in the long run.
To understand if cryptocurrencies are worth the risks, it is important to consider the female population in the market, both as users and investors. Take note that if cryptocurrencies do not stabilize and become major global currencies, half of the world population will have ventured into an investment that will not bring in profits in the near future.
The good news is that there is a way to make cryptocurrencies more appealing to the female population. The first step is to familiarize more young girls to the technological world. Familiarize them with successful companies or websites like Stepium, Latium, Starbit etc (multilevelled systems of rewards for Blockchain using smart contracts) who work in this field. Also, expose them to technological fields such as coding, cryptography and other computer-based skills. Increasing business and financial literacy in girls is crucial in providing the much-needed skills required for investments. This includes cryptocurrency. When girls enter in a finance pathway they like such as smart contracts which of course, make use of the blockchain technology, the industry will immensely flourish.
The second thing that would make females more familiar with cryptocurrencies like the Bitcoin is by using them to purchase products from online stores. Using it in social media will also spark their interest. Last and importantly is making the women who use cryptocurrencies known. They will not only act as role models, but they will also prove that there are women who flourish in the industry as well as the men do. Doing this will demonstrate there are women out there working hard to prove that cryptocurrencies are not a male-dominated industrial market. Cryptocurrencies will only flourish globally if females are included.