An increasing number of women are claiming the space around blockchain technology, NFTs and cryptocurrency. This promises to be an exciting prospect as technology and finance are male-dominated fields.
As Bitcoin has reached record highs in recent years, one cannot help but note that the younger generations seem more invested. This also presents a chance for women to stop being underrepresented in digital spaces.
This does not have to stand when you consider financial avenues provided by Bitcoin as an investment. Using blockchain technology and cryptocurrency can address issues ranging from digital education for girls in under-developed countries to wealth gap inequalities.
What are Blockchain Technology, NFTs, and Cryptocurrency?
Blockchain is a public digital ledger that records financial transactions in ‘blocks.’ Each block is a time-stamped encrypted file with data on the previous trade. With every additional transaction, they form a chain of blocks. The best use for blockchain technology is as an anti-corruption tool.
Cryptocurrencies are the main components of digital payments systems. It enables peers to make and receive payments. The decentralization element is that banks don’t keep records of these transactions. It gets recorded in a public ledger.
Non-Fungible Tokens (NFTs) are unique non-interchangeable data stored in a block. It is proof that you have ownership of a digital or physical asset. Users can copyright the investment, buy or sell them.
This technology is revolutionizing the way you can keep assets and presents a unique opportunity for vulnerable populations to invest or sell their art. Thanks to decentralization, it provides a fairer, inclusive, and more resilient path to financial security for women.
Creating Space For Women In The Cryptocurrency World
More than two-thirds of U.S. cryptocurrency investors are men. About 60% are white, and according to a recent survey by CNBC and Acorn, the gender gap is wider than in other financial investments such as stocks, bonds, and mutual funds.
Cryptocurrencies and NFTs provide a once-in-a-lifetime opportunity to bridge the gender gap in a newly expanding horizon. In addition, with Cryptocurrency going mainstream, it’s crucial to have the input of women and diverse actors to create a better future for crypto and NFTs.
When you consider the long-term implications of blockchain technology, you need to glean if cryptocurrency is a good investment for your portfolio. If not, an investment in NFTs might be on the cards.
If so, then women may lead the cryptocurrency community. A recent study found that female investors tend to be more analytical and carry thorough risk assessments with their investments. This is only beneficial in the volatile markets provided by cryptocurrency.
Blockchain technology and cryptocurrency thrive in communities, which benefit from women’s skillset in helping them grow and develop. Moreover, it creates a forum for women to take the initiative and lead the way. This will address the skewed balance of the blockchain ecosystem. In addition, the impact of the blockchain will ripple out to other industries, which will benefit from having women at the helm.