A recent study by Forex Suggest has shed light on the stark gender disparity prevalent in the world of cryptocurrency, with women holding just 6 percent of CEO positions in blockchain companies.
This comprehensive survey analysed 50 prominent crypto and blockchain firms, aiming to gauge the gender distribution within their executive leadership.
The results painted a disheartening picture, emphasising the underrepresentation of women at the helm of these pioneering enterprises.
Out of the companies surveyed, two standout leaders in gender diversity were identified. Chainalysis boasted 46.15 percent female representation in leadership roles, closely followed by BitOasis with 42.86 percent.
However, it is important to note that even these more progressive companies fell short of gender parity.
What about other countries?
A fascinating correlation emerged when examining the countries with the most balanced crypto adoption. Vietnam led the way with 47 percent of cryptocurrency holders being female, followed by Indonesia with 43 percent, and both Kenya and Colombia at 42 percent.
Dr. Yi Ding, Assistant Professor of Information Systems at the Gillmore Centre for Financial Technology, expressed concern about the glaring gender disparity at the top levels of crypto companies. Dr. Ding remarked, “It is disheartening to learn that such a small amount of crypto company CEOs are women, a statistic highlighting an urgent issue that needs to be addressed as digital currencies grow.”
In light of crypto’s potential to disrupt the fintech industry, Dr. Ding emphasised the importance of also challenging the industry’s gender imbalance. She drew hope from the robust female participation rates in countries like Vietnam, Indonesia, Kenya, and Colombia, which she believes can serve as a model for the broader industry.
How can you foster an inclusive workplace culture?
Dr. Ding urged the crypto sector to take proactive measures to rectify this imbalance, including fostering an inclusive workplace culture, providing equal access to education and resources, and encouraging mentorship opportunities.
Further analysis of the data revealed that companies such as Coinbase, Elliptic, Circle, and Anchorage Digital had approximately one-third of their management positions occupied by women, categorising them as having “high-level” female representation. Conversely, Coinrule and Trust Capital lagged behind, conspicuously lacking any women in leadership roles.
The study’s findings raise crucial questions about whether this gender disparity is affecting engagement from underrepresented groups and potentially dampening interest in cryptocurrency ownership. It underscores the pressing need for the crypto industry to proactively address these gender imbalances to ensure its continued growth and innovation remain inclusive and diverse.
Amelia Brand is the Editor for HRreview, and host of the HR in Review podcast series. With a Master’s degree in Legal and Political Theory, her particular interests within HR include employment law, DE&I, and wellbeing within the workplace. Prior to working with HRreview, Amelia was Sub-Editor of a magazine, and Editor of the Environmental Justice Project at the University College London, writing and overseeing articles into UCL’s weekly newsletter. Her previous academic work has focused on philosophy, politics and law, with a special focus on how artificial intelligence will feature in the future.