According to a new 2023 report, 42% of crypto ownership in Kenya is by women, a stat that ranks the country third in terms of ‘crypto equality’ across the world and first in Africa.
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The report wanted to explore the disparity in gender representation within the cryptocurrency and blockchain sector when it came to positions of leadership and influence by investigating some key questions:
- Is there an imbalance between the genders in the crypto industry?
- Is this affecting engagement from underrepresented groups, leading to lower interest in owning cryptocurrency?
The top countries for crypto women ownership were established to be:
- Vietnam (47%)
- Indonesia (43%)
- In third place are Kenya and Colombia, with women making up 42% of total crypto owners in both countries
“Both Kenya and Columbia, like Vietnam and Indonesia, are developing economies where work is often more scarce and lower paid than in developed nations, and traditional gender roles are more prominent with men usually being the family breadwinners.”
“The high proportion of female crypto owners in these countries suggests that women are using crypto as a means of earning additional income where the local economy or culture provides few opportunities for women to succeed,” the report said.
Below is the full list of worldwide crypto ownership broken down by gender:
On a separate metric judging the proportionality of women ownership, Nigeria and South Africa were some of the countries making the list. This metric is defined as where the number of female crypto owners is the largest relative to the overall population.
The report also looked at women contribution as leaders and influencers in the crypto community and concluded that they are vastly underrepresented in leadership positions across the cryptocurrency and blockchain industries.
Out of 50 blockchain companies analyzed in the report:
- Only 6% of CEOs were women, while
- Men held 94% of top executive positions
When considering leadership roles beyond the CEO position, it’s evident that:
- Men held approximately 77.6%, while
- Women accounted for just 22.4% of these positions
Chainalysis took the lead in terms of female inclusion, with women occupying 46% of leadership positions. BitOasis and Coinbase followed closely behind, with approximately 42% and 33% representation of women in leadership roles, respectively.
The report delved into the top 50 influencers in the crypto space on Twitter, revealing that merely 7 out of those 50 were women. This translates to a meager 14% of prominent voices in the crypto sphere being female.
Layah Heilpern achieved the highest rank in terms of reach and engagement among women, while Ripple CEO, Brad Garlinghouse, emerged as the most engaging crypto influencer overall.
Download / Read the full report here.
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