Web3 has always felt like an inclusive and empowering community to be a part of.
In making the transition from traditional finance to DeFi, there has been no shortage of support, encouragement and guidance. Embodying a leadership role as a woman also felt free of obstacles or setbacks.
Gender gap still evident
However, despite personal experiences, it cannot be ignored that the apparent gender gap in Web3 has recently been highlighted. With the recent celebration of International Women’s Day, the community needs to recognize that only 13% of founding teams in Web3 consist of at least ONE woman.
2023 data from Swiss Fintech Innovations has also highlighted this only 3.5% of Web3 investments reached the female-led Web3 company in the first half of 2023.It is clear that there is an inequality and a balance that needs to be adjusted. Strong female leaders, with the innovative approaches they can bring, are needed for Web3’s continued evolution. But does the answer to bridging the gap simply lie in providing more financing?
Beyond Funding: self-reliance as a versatile solution
Partially, yes. But more money for female startups is not a complete solution. That’s one-dimensional. All women in Web3, founders or not, can continue to strengthen themselves in the daily approach.
Three key areas to consider are: embracing fear, leveraging existing expertise, and building connections.
Embracing the fear
Blockchain technology, decentralization and Web3 ecosystems can be confusing areas to navigate. Nevertheless, acquiring new knowledge should cause excitement in addition to possible fear or doubt. It’s easy to let thoughts like ‘not knowing enough’ and ‘not being aware’ take over. This can create feelings of inadequacy or overwhelm in a male-dominated industry. But women must embrace their unique ability to learn.
With a fluid and curious approach, women’s compassionate abilities often come to the fore when absorbing diverse information. There should be no fear of complexities in understanding that could lead to freezing or flight. Instead, women must recognize their capabilities and choose to fight through them. Study; ask questions – with confidence. The more knowledge is acquired, the more empowerment arises. The disappearance of borders and barriers will follow, and the playing field will automatically become more level.
Utilize existing experiences
Because Web3 is such a new, unique space, it’s easy to fall into the idea that fresh and unique personalities, approaches, and ideas will be the only path to success. Doubt can creep in here too.
But women in Web3 need to remind themselves of the wealth of experience, leadership skills and knowledge they have acquired from the Web2 industries. Communication counts in Web3. Marketing counts in Web3. Creative arts count in Web3.
Traditional financial knowledge counts in Web3. HR counts in Web3. Event management counts in Web3. Gender is irrelevant when it comes to professional strengths in niches. Women must be continuously supported to stand up for what they can gain from previous careers. They must identify and utilize their strengths; this will work best if they continue to learn together.
Building real and strengthening connections
Ideas are Web3’s currency, and creative individuality is its compass. It doesn’t matter who it comes from, as long as the direction and purpose are expressed with confidence and conviction. That said, there are plenty of opportunities to form potential partnerships and connections.
Women in Web3 must consciously hone their ability to discover and harness this potential everywhere. It is important to recognize and trust the mutual respect, collaborative energy, and inclusive environment that abound in Web3 communities. It is the cornerstone for the exponential innovation that has occurred within the space in such a short period of time.
Women in Web3 must consciously hone their ability to discover and harness this potential everywhere. Strength in unity extends beyond any gender gap, and the more it is nurtured, the easier it becomes for everyone.
Steer the ship
Overall, Web3 is making progress in many different industries, and inclusion should be one of them. Women in Web3 play a critical role in sustaining and nurturing the broader ecosystem. Whether it’s regulatory landscapes, creative industries, education reform or digital asset development, Web3 needs women. Financing is welcome – but you don’t have to wait for it.
Women can take the lead and be assured that the community will support and cherish their efforts. Initiative, confidence and dedication will be the key determinants of greater female influence – not money.