February 23, 2018
Today, the world has achieved progress towards gender equality and women’s empowerment, but somehow, women and girls still have to suffer discrimination in every part of the world. Gender equality is not only a fundamental human right, but a necessary foundation for a peaceful, prosperous and sustainable world. And blockchain, which is one of the largest disruptive technologies, is expected to narrow this persistent gender gap in access to opportunities and decision-making power for women and men in the future?
Equality between women and men is one of the most fundamental values in the world. What is the meaning of gender equality? A connotation in socio–economic terms or a labour market parity. Gender equality is a multidimensional term assuming economic, cultural and social dimensions. As Ridgeway said in his report, stereotypes and assumptions about men and women shape everyday personal interactions and shape gender inequalities in jobs, wages, authority, and family responsibilities. For example, men tend to be seen as more authoritative and women more communal in orientation. There are three primary rights that need to be considered to solve the equality equation which are the right to be educated, equal right to work and the nature of women’s work and pay (1).
Education right is the most basic and important right. This right is a vital condition for labour market parity but is not adequate by itself. Although the world is making progress in achieving gender parity in education, girls still has a higher percentage of out-of-school children than boys. This issue leads to the lack of access to skills and limited opportunities in the labour market. For the equal right to work, there are major inconsistencies in the levels of labour force involvement between women and men due to perceptions about the role of women in the interface between housework and work. However, the countries could raise their GDP level if they give more chance for women to enter the labour market (2). The third right is about the nature of women’s work and pay. Women always have lower pay levels than men which directly reflects the differing conditions and environments under which women and men live. This is a discrimination of women in the labour market. And blockchain is expected to be a long-term solution for the equality between women and men.
Blockchain can play an important role in terms of empowering women in the marginalized communities. As Mahboob said, in a country like Afghanistan where the discrimination against women, due to the security and cultural challenges, women in some areas can’t open a bank account. As a result, blockchain will be a solution for them to keep their money in their mobile phones or computers and transfer money faster in a secure way and lower cost. Also, blockchain can create a world with full of opportunity for women who live in third world countries where have many of the world’s problems centering around education and poverty (3).
UN Women believes that blockchain has the potential of assisting people in humanitarian crisis and improve financial inclusion for underprivileged groups, including the 2.5 billion people who currently lack access to banking (4).
While it is common knowledge that the tech industry has always had a lack of women, blockchain and cryptocurrency seems to be male-dominated right from its roots. The public perception of crypto-assets and Blockchain software continues to be that of an industry that is unappealing, and even unviable, for women. Also, women find themselves discouraged from entering the industry due to their perceived aversion to risk. Female participation in the Bitcoin and Blockchain industries is very important due to the several reasons (includes women would bring new perspective to the industry, women are the largest shoppers and women are the main users of remittance services).
By eliminating intermediary entities from control of the flow of information and the transfer of funds, blockchain empowers individuals to take control of their own transactions and also offers a solution not run by one person or group, but by everyone. Blockchain development should be a solution aimed at helping women and disenfranchised communities increase their education and financial power. As Roya Mahboob, founder of the Digital Citizen Fund, said that her organization will use blockchain technology to increase entrepreneurial opportunities and financial literacy through a blockchain-powered online marketplace (5).
Women across the globe are banding together to spark conversations and find solutions to women’s issues —many of which are steeped in lack of education and financial disempowerment. The most important thing is we have to be willing to fix the broken infrastructure to rectify poverty and lack of education in third-world communities. And blockchain offers opportunity to make swift reparations. However, there is a long way to go. Through educational initiatives that encourage and empower young professionals to pursue blockchain development programs, as well as hiring more female leaders to develop and promote blockchain solutions on the front lines, the organizations such as Nano Vision have a specific chance to distinct chance to prioritize diversity and gender equality . In summary, the participation of women in cryptocurrency would introduce new talents to the industry while also increasing its patronage.
Infinity Blockchain Labs is a visionary R&D company engaged in intermediary and RegTech services employing blockchain technology. We focus on forming alliances with established businesses and regulatory institutions across various industries, as well as providing collaborative incubation for early stage blockchain projects.
IBL aspires to empower Vietnam to become a global leader in blockchain development and therefore are committed to sharing information to nurture a passionate, educated blockchain community. One of the ways we maintain our role as ecosystem pioneer is by helping create educated blockchain enthusiasts. We are committed to sharing information and resources to help Vietnam become a blockchain hub through conferences, courses, contests, alliances, workshops, speaking engagements and incubations. IBL is an international company and we are an untiring advocate of gender balance to in our workforce.
You can learn more about Infinity Blockchain Labs and stay current with our activities. Visiting our website and social media accounts below:
LinkedIn: Infinity Blockchain Labs
Contact: Nicole Nguyen PR@blockchainlabs.asia
1. Ridgeway, How Gender Inequality Persists In The Modern World at http://www.scholarsstrategynetwork.org/brief/how-gender-inequality-persists-modern-world
2. Kaul, The Role Of Gender Equality In Ensuring Economic Growth at https://www.entrepreneur.com/article/273825
3. Rowley, How blockchain can help women advance in tech and beyond at https://newsroom.cisco.com/feature-content?articleId=1846875
4. UN Women’s innovation and technology projects at http://www.unwomen.org/en/how-we-work/innovation-and-technology/un-womens-innovation-and-technology-projects
5. Winning, Blockchain Balance Issues: Why The Industry Needs Female Leaders at https://www.forbes.com/sites/lisawinning/2018/01/27/blockchain-balance-issues-why-the-industry-needs-female-leaders/#7ab527379ba0