Although the Web3 ecosystem is rapidly evolving, the industry still faces many challenges, one of which is its lack of diversity. The underrepresentation of women in the field remains a significant concern, as their involvement is indispensable in addressing some of the critical challenges in the sector.
Web3, the next generation of the internet, is an exciting new space creating opportunities for entrepreneurs across various industries. While the field is still somewhat male-dominated, several influential women entrepreneurs are significantly impacting the Web3 space.
— Cointelegraph (@Cointelegraph) March 8, 2023
In a recent interview, several women in the Web3 industry shared their experiences and insights on the importance of increasing the presence of women in the field, as well as what can be done to achieve greater diversity. From taking small initiatives to educating the next generation of diverse talent, these women provide valuable perspectives on how the Web3 ecosystem can become more inclusive.
According to Sandra Leow, a research analyst at Nansen, the first step is to encourage women in the space to promote small initiatives like referring friends to crypto projects, regardless of their gender. Sandra said she believes that the Web3 industry can improve diversity by prioritizing onboarding initiatives to help more people, especially women, become familiar with on-chain data and blockchain explorers. She acknowledged that the learning curve for crypto can be steep, with information being scattered and difficult to find. Leow noted:
“I think it’s still extremely hard to learn the basics of crypto, because I think the knowledge that you get and the information is very scattered.”
Journey Li, a social media manager at Nansen, believes that vocalizing involvement in the field is a way to inspire more women to join. She noted:
“One way to inspire more women to join the Web3 industry is by being vocal about your own involvement and identity as a woman in the field. By sharing your passion and expertise with others, you can lead by example and demonstrate the value that women can bring to this space.”
Devon Martens, a Principal Blockchain Engineer at Sweet NFTs, said that great role models will motivate women to pursue Web3, where there is so much potential, especially for women leaders looking to change the world. To improve diversity in the industry, Devon suggested:
“The simple answer is to give people a chance. Take the time to seek out candidates from different communities than you might otherwise personally know. Interview female applicants that fit the role and consciously offer them the opportunity to grow based on their skill set.”
Devon also encouraged companies to provide internal growth opportunities such as courses and workshops and ensure that people have the time and resources to pursue them.
Sandy Carter, COO and Head of Business Development at Unstoppable Domains, believes that to improve diversity in the space communities, organizations, and companies need to collaborate and take proactive measures, with a focus on education and training starting at the grassroots level. She shared:
“Education is fundamental to encouraging more women and minority groups in the space, which ultimately starts at the grassroots level. There needs to be more emphasis on training in schools and colleges where girls can learn the skills early.”
Related: Women in Web3 discuss challenges within the industry
On March 8, International Women’s day, CEO and Founder of Coinbase, Brian Armstrong was criticized on Twitter for hosting a dinner in New York to “build back better” the crypto industry, with only male crypto founders. Twitter account holder @cokiehasiotis called out the CEO for the visible absence of women at the table.
some traditions are so embedded in culture it would take a biblical leveling for us to undue them.
in crypto, that’s men posting photos of inspirational people in crypto featuring exclusively white men on international women’s day
may this holy traditional survive us all
— cokie (@cokiehasiotis) March 8, 2023
To encourage more women to join the industry, there needs to be more emphasis on training at the grassroots level, starting in schools and colleges. Workplaces also need to be more encouraging of such diversity initiatives. Overall, the Web3 ecosystem needs more women, and companies and organizations need to collaborate and take proactive measures to encourage diversity.
