In recent decades, women have gained more ground in the workforce, increasing their protagonism in the economy. But even with significant advances in the representation of women, a huge gap remains in their participation in the financial market, especially in leading roles.
In TradFi (traditional finance) men traditionally hold executive management positions, but the crypto market so far has been different in this regard. And a similar situation can be seen with their respective PR sectors, as well.
Female representation in TradFi vs Crypto
To give an example, in the 2017 Global Women in PR Survey women represented two-thirds of the global PR industry. Men, on the other hand, represented 78% of the CEOs in the top 30 PR agencies worldwide and occupied 62% of seats on PR boards.
By comparison, crypto and fintech are proving to be a much more diversified playground. When visiting industry conferences and other events nowadays, I can always see a rather equal number of men and women participating, which stands in contrast to how things were in traditional finance just a couple of years ago.
I should say that the gender proportions are shifting in TradFi as well, but it is happening at a much slower pace. As someone whose career path began in traditional finance, it has always been a male-dominated field, and it’s going to take quite some time for this reality to change.
Blockchain technology shows that times are changing for women
Blockchain technology holds the potential to democratise economic participation by promoting greater financial inclusion and empowering people who have been underserved by the current system. This also extends to greater gender diversity and turning the tides on the inclusion of women. There is already a considerable number of female specialists and leaders in this space, founding their own businesses and actively contributing to the development of the industry.
Ever since the ICO hype days, when numerous new projects sought out PR to promote their businesses, the crypto market has enabled great opportunities for women to shine and act on their merits and ideas. Today, the crypto industry is still new and growing, and women have all the opportunities to grow with it.
There still remain some problems, unfortunately, like the fact that women in crypto leadership are not yet receiving quite the same visibility as their male peers. But changes are taking place – crypto and blockchain represent a chance to do things differently from how they used to be. And this ideology is reflected in the fact that many companies in this sector set out from the start to build processes free of gender bias.
As crypto gradually gets adopted into the global financial ecosystem, we will surely see TradFi having to adapt in order to deal with new players, along with their different mentalities and fresh perspectives on gender diversity and hiring practices. So long as the bridging of crypto and traditional finance continues, the gap between men and women in this sector is also likely to fill up more and more.
Take the shot, now is your chance
Crypto and blockchain are being built on the principles of innovation and democratisation, what this market seeks are open-mindedness and a growth-oriented mindset. And its development has only just begun, which means that the possibilities are endless. Now is the time for women to take the lead, to get actively involved and grab the chance to build their careers the way they want to.
Valentina Drofa is the founder and CEO of Drofa Comms, an international finance and fintech PR consultancy. The firm is helping top financial and fintech companies grow with care and respect through well-tuned communications with their audience.
