Diversity is revolutionizing the cryptocurrency market that was once dominated by the male gender. Keep reading to discover how.
Cryptocurrency burst onto the financial scene as a significant substitute for conventional finance. This new currency poses to be decentralized. The Blockchain fintech is steering a new age where everyone has access to the world of finance.
But, although we see crypto bridging the fintech world, it is primarily dominated by the male. So, crypto is still very much in its infancy. Yet the reputation of large male dominance affects it. We see the rise of tokenization, blacktokenomics, non-fungible tokens (NFTs), and Web 3.0. They have powered the finance side of the Blockchain.
So, it has proven to be a system that drives equal access as part of its natural values. It is also seen as one that brings balance to society. This article will showcase the values of cryptocurrencies. And how it is encouraging diversity and inclusivity in the financial system.
A foundation in Empowerment
Looking back on the time of the Great Recession of 2008, we can take lessons from the experience. We saw the dominance of financial institutions in the entire financial system. So, cryptocurrencies were created to give power to every man. Now, every individual is empowered with economic opportunities in the financial system.
Today, inventions in crypto have opened more opportunities for individuals to earn more. We have also seen the rise of blockchain-based games that reward players with crypto.
Even the experience of major job losses that followed the pandemic affected a lot of people. This end of this occurrence saw more women and young people suffer most of the burnt, especially in Asia. Blockchain-based games proved to be tangible in protecting the livelihood of low-income earners.
So, aside from the earning potential crypto presents. It has also been helpful to those who have severe economic challenges. The generally increased adoption of cryptocurrency worldwide can be traced back to two reasons. They are receiving payments and savings as the paper currency continues to devalue.
Democratic Crypto Mojo: Of the People, By the People, and for the People
Crypto’s magic is centered on its central technology- a decentralized ledger. This ledger is where peer-to-peer activities take place, like transactions, voting, and trades. A decentralized ledger allows interactions to occur without a central body controlling it.
As time went on, Blockchain technology also aided the establishment of decentralized teams. The teams are protected from the hindrances the world presents. Decentralization, by nature, fast-tracks diversity. It enables anybody to be included in the cryptocurrency system. It doesn’t matter where you are from or who you are.
Decentralization gives you a seat at the table that you would never have imagined to be part of in the traditional financial system. Taking part in the decentralized system from anywhere in the world goes beyond the individual level. Developing economies are also being given a chance to add, support, and improve.
The same thing relates to ecosystem players that used to be insignificant in the fintech system during Web 2.0. They have the opportunity to make a difference. Promote change in the latest economy that is powered through inventions of decentralization.
Cultural Rebirth Backed By Crypto
In recent times, we have witnessed a massive involvement of “crypto bros” in the crypto culture. Thankfully, today, we can say it has grown and matured into an open field for cultural diversity and easy access. Non-fungible tokens (NFTs) are a primary example of what has led to the resurgence of the crypto culture.
NFTs are a platform that opens the room for investments. It also facilitates an equal avenue for users to stage their uniqueness and talents. We have seen where an artist used her NFT art series to bring women to the lead position of NFTs. The collection was praised in the art industry and beyond.
As regards the representation of gender in NFTs, based on the cryptocurrency statistics. Female artists reported less number of sales. Yet, the total number of women represented in traditional art is way lower. Compared to those female artists represented in the NFT world. The growing number of women in the cryptosystem showcases the potential of balancing gender involvement in the Blockchain ecosystem.
Plotting An Inclusive Future From Inside
Without a doubt, crypto is altering the unfairness of conventional financial technology. The natural build-up of our industry is to not accept the norm. The industry’s drive is to empower every individual. For them to be included in the latest economic opportunities. It also empowers individuals to get involved in the change happening. Also, establish the new cultural status quo.
So, as leaders, there is a responsibility to be in an active role. To create a favorable atmosphere that supports diversity and inclusion in the workplace. With this understanding, people involved in the crypto industry can encourage a crypto movement within their workplace. The purpose of this is to be able to unleash the positive force of crypto together. To serve as the catalyst that brings balance.
For beginners, it is vital that we get the best talent to do the job, regardless of gender. If we do this, we will be leveraging the vast and diverse talent pool. So, we should continue to encourage diversity within organizations. It is also important to not neglect the talent of tomorrow. Prepare and plan for them. We make sure that learners grasp their potential within the crypto sector.
We have seen that the emergence of crypto into the financial system has brought about easy access to individuals. So, crypto can be a good force for tomorrow that drives diversity. As we join forces together, we can, as a whole, define the future of financial services. If we can come together, the societal impact we will achieve will go beyond the value that is created, stored, or transferred economically.
So, those who formed the crypto industry and everyone involved in the industry itself need to fight for the value of crypto diversity, inclusion, and equality.