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"Blockchain Bros" is a new form of patriarchy for Women in Cryptos

Mar 03, 2018 Posted /  3861 Views

"Blockchain Bros" is a new form of patriarchy for Women in Cryptos

Before you dig deep into this article, I want to sound a Feminism Alert as it may likely offend some males (not all, of course, we know). Women are already fighting against patriarchy- for their rights in jobs, wages, politics, choice of clothing and literally their entire existence, when someone rings an alarm to you stating that now just think if you possibly have any rights in cryptocurrency investments too?

For instance, a cryptocurrency start-up promised to transform the fruit and vegetable industry but was shut down last month. Sorrily, it wrote one word on its website: penis and just ended the operations.

Let me just add one more example to prove my point, a virtual currency company called DateCoin literally sought to seduce investors for its initial coin offering. Interestingly, it posted a Facebook ad that featured a reclining woman in a swimsuit with text over her body that read, “Touch my I.C.O.”

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You must be thinking "what a ridiculous idea" or "that's funny" in your head, but actually, it explains the gravity of the situation. Sexism like most walks of our lives has entered the cryptocurrency and Blockchain space too. Now think about this North American Bitcoin Conference in January which took place in Miami strip club- there were 84 male speakers and three women in the conference party.

We always say that Blockchain solutions are more democratic mechanisms of financial services that are intended to reach populace. Virtual currencies and blockchain, the digital ledger that forms the basis of the cryptocurrencies, were designed to be equalizing forces maintaining an idealistic eagerness. However, women who have been trying to engage in the gold rush are witnessing an unbalanced gender divide. And many say the culture is getting critical, with the male-dominated space finding a new fleet of prosperous crypto theorists called as “blockchain bros.”

Quite naturally, this developing technological world is already in jeopardy of resembling like the rest of the technology industry, where women are unquestionably a minority. Some studies conclude that women deem to be just 4 percent to 6 percent of blockchain investors.

Why we are alerting about this imbalance and why it matters?

Because the infancy days of industry are often the most wealthier ones, where a protocol and culture are set up and the champions of this time build the next generation of buyers, propelling a cascade of consequences.

Now, surely the early women investors, enthusiasts, and entrepreneurs say that if the situation remains likewise, soon space will be considered alien to them.

“Women, consider crypto,” Alexia Bonatsos, a venture capitalist, wrote on Twitter. “Otherwise the men are going to get all the wealth, again.”

The incidents such as DateCoin’s Facebook ad and Prodeum, the blockchain-for-fruit start-up shows that how much widespread imbalance is registered in the space. Even when in the Miami Conference cryptocurrency industry apprehended the conference’s after-party would be held at a strip club, they encouraged the administers to change locations. However, they replied by saying that the strip club was the most convenient and safest venue he could find.

No women could have expected any better answer as the year before, the conference’s kickoff party featured underwear-clad models painted in gold and covered in Bitcoin logos. One group of female contributors announced that they had decided to boycott the meeting in the future.

Catheryne Nicholson, the chief executive of BlockCypher, which presents an infrastructure for blockchain applications, described to some of the younger women why sexism is an all-time high in the space.

“Now there’s a lot of money, and the men think, ‘Oh, I’m a whale now,’” she said. “They’re a little more full of themselves.”

Many women have articulated about how the tending blockchain culture which is slowly deteriorating. Jay Graber, a developer at Zcash, a new cryptocurrency aimed at enhanced privacy, said she became interested in blockchain after joining the Occupy Wall Street protests in 2011, and she thought the technology could give power that no one else could offer the world. But now she says- she is not so sure.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: Women in Cryptos cryptos Blockchain Bros Women tending blockchain

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