This month is a women’s celebration. Whether it’s a full-time housewife, a loving mother, a mentor, a sister, a daughter of the world, or a colleague of ours, it’s worth considering what it means to the world of cryptography.
49% of the world’s population is women, and giving them the tools they need to succeed can stimulate a commercial tsunami that may have previously been unthinkable.
In the US, women of all ages recognize the possibility that cryptocurrencies can level up financial arenas, but in developing countries this is a step further, giving women the opportunity to be included in places they may have otherwise been ruled out.
This inclusion is key to unlocking the value of all women’s participation. In a remote village in Nigeria, women open a smartphone app and receive payments in Bitcoin with a few taps. In Afghanistan, another woman carefully constructs savings in her digital wallet, out of reach of oppressive financial restrictions.
The rise of cryptocurrency is a socioeconomic change, providing financial institutions to women, particularly in developing countries. At its heart, Crypto is dismantling traditional barriers that previously restricted women’s economic independence.
Despite progress towards economic inclusion, there are still many gaps.
According to the Global FindEx database, women are less likely to have formal bank accounts in developing countries, with a 20% gap in gender account ownership gap, exacerbating economic inequality. Even in developed countries, this disparity persists. A third of the university-educated women surveyed by Coinbase believe they have no equal access to their country’s financial system.
For many women, economic exclusion is more than just an inconvenience. It’s a matter of survival.
Financial abuse remains a key component of domestic violence, with women being separated from financial resources and it is nearly impossible to leave an abusive situation. Cryptocurrencies and their unauthorized transactions have emerged as important tools in the fight for financial autonomy.
Unlike traditional banks that often require endless documents, physical existence, and institutional approval, crypto transactions require only an internet connection.
This is especially important for women in the area where legal or cultural norms prevent the opening of bank accounts. For example, a report by Global FindEx shows that mobile payments have become an important enabler of financial inclusion in sub-Saharan Africa, particularly women.
The story continues