Women’s History Month: Closing the Gender Gap Through Web3 Education
Main Takeaways
March is Women's History Month — a time to celebrate and recognize the vital role of women throughout history and contemporary society.
Binance believes that crypto literacy is a powerful tool to help narrow the gender gap.
From funding Web3 education to launching women-first crypto events, Binance is on a mission to pave the way for an inclusive future.
Happy Women’s History Month! Read on to learn how Binance has been increasing female participation in the crypto space.
Since bitcoin's creation in 2009, the evolution of digital money has displayed an adoption curve akin to that of the internet. Today, millions of people rely on Web3 for a variety of uses – yet there is still a valuable component notably underrepresented in its story: women.
As blockchain technology continues to display the potential to democratize finance, we must avoid the pitfalls of gender inequality many industries have fallen into. The blockchain industry has a duty to support women within the Web3 workforce and expand access to crypto knowledge and education in the broader market for female investors.
Binance is on a mission to increase the freedom of money globally. A crucial part of this is bringing more diversity to the crypto ecosystem to ensure blockchain lives up to its full potential. We want to empower all crypto-curious women to become crypto-fluent through a range of ongoing initiatives and events. Women’s History Month is a great time to look back at what we have accomplished on this front so far – and to envision the equitable future we are working to build.
Our Commitment to Funding Web3 Education for Women
Binance Charity donated $2 million to fund over 36,000 dedicated Web3 scholarships for women in 2022 and will continue to fund courses, programs, and scholarships in 2023 with a focus on women and underrepresented communities. A 2023 survey by TripleA found that women comprised only 37% of crypto owners. We believe that education is critical to ensuring an equal distribution of access to digital finance and a greater diversity of voices shaping its future.
The 2022 scholarships were awarded to women in Germany, Nigeria, Kenya, Brazil, France, South Africa, Australia, and Ukraine – like Chidinma, Ebeh, and many others – to study blockchain and crypto-related courses at universities, schools, and nonprofits. In honor of Women’s History Month (March 1-31), and International Women's Day (March 8), Binance Charity will also be making an additional donation of $100,000 to Georgia's Innovation & Technology Agency (GITA) to support Web3 education and training for women.
“In the five years since Binance Charity was founded, we’ve helped more than 2 million women through educational and humanitarian projects. Sadly, women are still disproportionately affected by major social issues that we’re working to address, such as inequality, lack of access to education, and poverty,” said Helen Hai, Head of Binance Charity.
In February 2023, we held our first Women in Crypto event in Dubai, bringing together beginners and experienced female investors to share insights, network, and discuss the opportunities that Web3 offers women globally. We plan to build on this at a regional and international level, creating events and bringing together communities of women that are equipped to manage all aspects of Web3.
Closing the Web3 Gender Gap
A recent report by CoinJournal found that less than 5% of crypto founders at top crypto companies are women and that, as of 2022, out of over 10,000 companies reviewed, only 292 were female-founded.
Yi He, Binance’s co-founder and chief marketing officer, was one of the first female senior leaders in the space and is now determined to help others succeed in the industry. Yi said:
"As one of the few female leaders in the industry, I believe that we have a mission, through Binance Charity and Binance Academy, to help more women understand Web3 and blockchain technology. Our educational and internship programs aim to empower young women with the knowledge and skills – for them to be ready for industry disruption. We believe that anyone with ideas can change the world, regardless of gender. We hope that these commitments will result in more women at the front line of innovation and bring change to our industry.”
Crypto is still in its infancy, and there is still time to learn important lessons from the tech industry’s experience. Education should be a priority because, with Web3, we have a unique chance to create a diverse and representative workforce almost from the beginning.
The growing industry demand for more workers makes this the perfect time to increase the number of skilled female applicants. Returns to education are vast, and prioritizing it can help tackle the gender gap near its source: the intake of qualified and trained women into the workforce.
To further tackle gender inequality, Binance has created its first formal internship and graduate programs, which offer more access to careers in crypto for diverse talent, including women. The company also provides guidance and career advice to women through workshops, educational courses, and lectures focused on sharing industry experience, as well as hosting female mentorship programs and special talent sessions on how to break into the Web3 workforce.
We will soon be releasing a new AI product, Binance Sensei, which will allow users to ask questions when learning about crypto on our free Web3 knowledge hub, Binance Academy. In addition to providing free crypto educational resources in over 30 languages on Academy, Binance is waiving trading fees, up to $600, through March with code IWD2023 as an additional way to welcome new users to the world of crypto.
Watch our exclusive International Women's Day video here: