Web3 and Gender Disparity: Inclusivity Exists Only in Theory

Web3

Web3

Web3 would possibly promote the thought of an inclusive web, the place, age, and gender doesn’t come into play; however, in actuality what’s offered as one of the democratized applied sciences that aims to dismantle the present centralized web (Web2) isn’t all that inclusive. Like its predecessor, Web3 too lacks momentum about gender range and as per the most recent report from cryptocurrency market Gemini, ladies make up simply 26 percent of Web3 buyers.

The gender bias does not end there. The report also reveals that ownership of Bitcoin, the world’s largest cryptocurrency, is in the hands of men – with women making up less than 15 percent of Bitcoin investors. As a matter of fact, even the largest NFT marketplaces like OpenSea, Axie Infinity, CryptoPunks, and Nifty Gateway are all run and owned by men. Perhaps most shocking of all is NFT artist collective Fame Lady Squad which is actually run by three male developers.

Younger women are more likely than older women to view gender discrimination as a major problem in the tech industry. About half (49%) of women younger than 50 say this, compared with 39% of women 50 and older.

Women who work in computer jobs are also more likely than men in these jobs to consider gender discrimination a major problem in the tech industry (43% to 31%); about twice as many men (32%) as women (15%) who work in these jobs say gender discrimination is not a problem in the industry. (Computer jobs include positions in software development or data science, and include some who work in the technology industry and some who work in other sectors.)

Those women who are employed in the tech industry still face further challenges. WeAreTechWomen recently reported that 75% of women in tech feel like there is a lack of support and respect from their male colleagues. A concerning two-thirds of respondents also feel ignored during work meetings. Challenges for women in tech appear to be persistent throughout their careers, with gender inequality also present in promotion rates. This gap increased further during the pandemic, with 34% of men working in tech receiving a promotion, compared to just 9% of women. So, what can be done to improve these issues?

The movement toward change might start small, maybe even within just one team. But it can move on to bring about change in the whole company. It can be as simple as becoming a good listener to your teammate, no matter what their gender is or how many years of experience they have. It’s about exploring and extending your personal ability to care about people, regardless of their gender or sexual orientation. It’s about honestly conveying an important piece of professional feedback so that the person receiving it can improve and contribute better. It’s about seeing individuals for who they are, without any assumptions or filters about gender or race, or orientation. And it’s about trying your best to belong and include others.

Another barrier for women who want to work in the tech industry is the education level. Historically, more men than women have chosen to pursue degrees in science, technology, engineering, and math (STEM). More than half of bachelor’s degrees are awarded to women, but the majority of these are still in areas outside of STEM. Research indicates that only around 20% of women pursue degrees in the fields of computer sciences, engineering, and physical sciences.

The study, led by Accenture and Girls who Code, showed that 50% of women abandon technology careers by the age of 35 and that women are leaving tech roles at a 45% higher rate than men. Only 21% of women in the study said they believed the technology industry was a place they could thrive; sadly, that number falls precipitously to 8% for women of color.