How would you describe the cryptocurrency culture?
Cryptocurrency is a complex system based on a simple dream – to put the power of finance back into the hands of people everywhere.
If you look at where Bitcoin started, we see that it was founded to offer a borderless, transparent and inclusive alternative to traditional finance models. And the cryptocurrency culture constantly evolves to match that dream!
Crypto was intended to free ordinary consumers from reliance on a financial third party like a bank and this is precisely what it should do and is doing.
It has been well documented that the world of cryptocurrency is heavily male dominated. What do you think needs to change to get more women involved in blockchain technology to help balance the existing gender divide?
Crypto was created with the core value of inclusivity from the start and it is part of its ongoing allure. Achieving greater inclusivity requires bold initiatives that will see more women getting the support they need to enter the crypto space while showcasing the benefits of smart money.
A recent survey reported that the ‘average Bitcoin user’ is male (85%). Do you think there is a link between the lack of female talent in the industry, and the lack of female users?
Admittedly, to date, “dabbling” in Bitcoin has been more male-dominated than female, yet it’s not all bad news.
I am part of several groups that give a platform to thousands of women working in and using cryptocurrency to help each other and I have seen many women seeking mentors.
Whilst this imbalance is still very much prevalent, it is improving every year. In 2018, Coin Dance, a Bitcoin company, noted that only 5.7% of its investors were women. Fast forward to 2020 and certain crypto exchanges are reporting up to a 160% surge in female crypto investors.
Here at Zumo, we have a track record of appointing women in our leadership team, which has translated into significant growth in the number of female users – over 36% of our current users are women.
Do you think more diverse teams across all demographics will contribute to crypto becoming more widely adopted?
In short yes, diversity coupled with openness allows organisations to consider different points of views and culture, which leads ultimately to being more inclusive.
With more women and diverse teams, it means that products are designed to be more accessible and more appealing to wider audiences. Hence the adoption rate increases.
If 2020 was the year when we saw cryptocurrencies entering into the mainstream, 2021 will be the year when we begin to see the benefits of mainstream adoption. The sheer freedom offered by crypto – enabling financial inclusion and self-autonomy is already attracting diverse segments of the population worldwide.