Women are underrepresented and underpaid in many industries, but this is a particular problem within the blockchain industry. Female representation in fields like cloud computing and artificial intelligence averages only 29 percent, and that’s a high estimate according to women in the industry. What’s more, according to a World Economic Forum report, the gender gap has only increased since the COVID-19 pandemic began. Before the pandemic struck, it was estimated that it would take 99.5 years to close the gender gap. That number has since increased to 135.6 years.
Despite the challenges that women face in the blockchain industry, a few have found ways to succeed. One such person is Blockchain.com Chief Financial Officer Macrina Kgil. She has suggestions on how to increase the number of women who follow her success within the industry.
Increase STEM Educational and Mentorship Opportunities for Women
A growing female presence within blockchain begins with increasing women’s access to science, technology, engineering, and math (STEM) educational opportunities at large. Encouragement in these fields should start at a young age, and include both formal education and informal mentorship. A strong pipeline of well-equipped women should develop from this two-pronged approach.
Educational opportunities should include plenty of options for STEM learning in primary and secondary school, and it likely requires adjusting post-secondary degree programs. Degree programs are largely developed with men in mind, and that demographic focus should be shifted to include women as well. Such educational programs should be heavily subsidized through grants and scholarships, which the government, schools, and businesses can help sponsor.
A willingness to teach and strong networks of female professionals are needed to increase mentoring opportunities. Mentorees will be able to learn if successful women are willing to share their time and expertise.
Value Women’s Perspectives Within the Workplace
Diversity and inclusion are always beneficial to companies, but the reason for diversity isn’t always emphasized. Female inclusion in the workplace is important because women offer a valuable perspective -- and male colleagues and businesses should recognize that.
Women’s perspectives are helpful because they differ from men’s. First, women know how to better communicate with other women, and reaching female acceptance is necessary to the widespread adoption of blockchain technology. Second, women are also skilled at creating and streamlining systems. The combination of a fluid user experience and efficiency is something that can help any business, but especially emerging ones that are competing for market share in a new and competitive industry.
When the true value of women’s perspectives is recognized, it’s represented by both the inclusion of women and equal pay. When women are fairly compensated, it further encourages their career trajectories, leading to more women in positions of leadership.
Increase Job Opportunities and Their Visibility
Of course, women need job opportunities if they are to succeed within the blockchain industry. This spans everything from entry-level positions to senior positions, such as C-level executive leadership positions. It also includes making those opportunities more visible and available to women.
Businesses need to think about both where they are recruiting from and how their recruitment is planned. An equal effort should be made to target predominantly male and predominately female populations, and messaging shouldn’t be tailored only with men in mind. Job listing and recruitment should also be tailored to draw women into the field.
The path to growing female presence within blockchain won’t be a short one. With these efforts, though, the industry will move in the right direction.
Macrina Kgil’s Career At A Glance
Macrina Kgill is currently the CFO of Blockchain.com. She has previously served as CFO for two different multi-billion dollar companies. She began her career working at Samil PwC in Korea, before working as a capital markets transactions expert in New York City. She has since served as Vice President and then CFO for major financial corporations.
WRITTEN BY
Macrina Kgil