In the world of crypto, everybody gains something. From an increased access to capital and to new roles in the tech space, women have gained and done it all!
However, tech and finances are two fields that are strongly looked upon as pale male fields. But, women are amazing and capable of anything. Blockchaintech and digital currencies are already changing the game for women around the world and here’s how:
More Women Are Paid Now
One UNDP study showed that in Africa women make up more than half of the population and contribute to 75% of agricultural labor. As good as this sounds, they unfortunately still hold only 1% of the assets and account for 10% of the total earning. We all have heard the phrase “a woman’s work is never done.” But that is completely unfair to women, the phrase should be “a woman’s work is never paid.”
In many countries like Afghanistan, women are not allowed to work and also can’t step outside the walls of their homes. There is a risk of physical violence for them and can even have their earnings confiscated. It’s just as bad as it sounds! So Roya Mahboob, an Afghan entrepreneur helped a woman in need by contributing to her website with Bitcoin. This way she can earn and also retain her earnings. That’s exactly why we love crypto, it makes the impossible possible!
Helping Their Families Through Remittances
Remittance is the money sent by immigrants to their family members in their home country. In the US alone, the remittance industry generates $430 billion dollars per year. The Philippines and Mexicans being the largest recipients of funds. These processes are slow and costly and can cause a lot of unnecessary problems.
However, the blockchain tech would make these transfers easier for them and more secure. This is also really cheap which is good for earning women. Women are as likely as men to send remittances. However, they are definitely more likely to receive them. The half of the senders are women and now the use of the blockchain technology could change things for the immigrants supporting their families back at home. After all, no one likes to pay heavy service charges.
Startup Your Own Business
Banks have started to lend more to the ladies! Microloans to women in developing nations have the greatest impact. Women are better at using funds and are more likely to pay them back on time. They tend to adopt healthier lifestyles as their incomes increase. However, still women are far less likely to receive loans than men which we think is highly unfair all the hardworking women out there!
The CEO of Bitcoin brands Inc told an entrepreneur explained how fast and cheap it can be to send money with a micro-transaction to anywhere at anytime of the day. Thereby, cryptocurrencies could help narrow the gender gap because of the microlending Bitcoin by internet or mobile phone.
More power to the women! The crypto-world is already changing things for the women and we believe there are more way crypto can elevate the status of women in the society! What do you think? Can the crypto-world a good space for a woman to be in?