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In the last week, a number of articles have been published highlighting the imbalance of women compared with men involved in the ground-breaking change that Bitcoin, cryptocurrency and the blockchain is carving out:

These articles demonstrate an ongoing imbalance of gender participation that isn’t unique in its sector, “the fact is that women are still underrepresented in positions of privilege and power across the board - and the blockchain industry is no exception.

At a time when this nascent technology has the capability to change our global future, it’s most important that as many people as possible from different backgrounds are part of this change.

Based on findings from an international Quartz survey of 378 venture-backed crypto and blockchain companies founded between January 2012 and January 2018, roughly 8.5% had a woman on the founding team.  eToro’s recent survey on participation levels of female investors in cryptocurrencies also showed just 8.5%.

Even participation in CoinDesk’s recent survey showed most of the respondents involved in the cryptocurrency community are males – 95% – while there are just 5% females participating in the cryptocurrency environment.

Wider studies clearly show fuller inclusion makes for better business sense as illustrated in the anitab.org infographic.

Women Directors vs Leaders

Over the last decade, there have been a range of initiatives to highlight and address the issue of female under-representation in senior managerial and Board-level positions in UK companies. As reported in the Virgin Money Empowering Productivity Report - Harnessing the Talents of Women in Financial Services

Organisations such as the 30% Club have transformed the debate on gender diversity by focusing on how increasing it positively correlates with superior firm performance.

The business case for diversity has three particular elements:

  • Increased challenge and reduced chance of ‘groupthink’
  • Enhanced connection to customers
  • Access to a wider talent pool

We have chosen to act to do our part in creating a better gender balance with the launch of BCB Engage, a bespoke capability designed for women and aimed at providing female investors with a trusted route into accessing digital currencies.

Vian Sharif, BCB Group Seed Foundation Partner, commented, ‘We want to open up choices for women. This begins on our own doorstep, in taking action which directly aligns with our Firm’s core values - integrity, innovation and inclusion to solve the most pressing issues of today.’

Forbes estimates that in 2017, investors in Bitcoin witnessed wealth creation of approximately $85 billion, with only $5 billion obtained by women [1].

At an event “Women in Crypto”, Kelsey Cole, co-founder of blockchain digital advertising company Adbank, suggested that to become involved in the cryptocurrency industry, women should take the following three simple steps:

 

  1. Set up a wallet and write down its private key, as a position in crypto usually requires acquaintance with some form of cryptocurrency wallet.
  2. Participate in the community, activity that increases knowledge and reputation, which is invaluable to career progression.
  3. Do research on the technology and the market, because due diligence is crucial to success, from both a career and investment perspective.

BCB Engage will facilitate access to cryptocurrencies through three key avenues: raising awareness, providing educational insight, and enabling participation through its established brokerage platform.

To discover more email BCBEngage@bcbgroup.io

[1] Source: Forbes, 10 December 2017

Bridget Greenwood

Bridget Greenwood

Marketing and Content Partner

Starting as an Independent Financial Advisor, Bridget pivoted her career to emerge as a pioneer in financial services social media. A founding director of Financial Social Media UK, Bridget has attracted multiple industry awards. Aware that technology marches forward no matter your view point on how it might disrupt incumbents in your market place, especially in traditional industries, Bridget vehemently believes that staying in front of technology is essential to survival and success. How you can harness these changes, rather than deny, impede and ultimately be left behind, is the key for best serving your clients and customers.