23 Jul #DavosReflection part 3. Diversity redefined: the future of women’s economic empowerment in Web 3.0
This year’s Davos agenda in gender equality is in three parts; economic prospects for women, closing the global gender gap, and looking beyond ‘quotas’. While more than half of new startups are founded by women, they account for less than 2.3% of venture capital deals and angel investments. The current state of women’s representation in tech and investment lacks in numbers.
Nevertheless, there are several successful female leadership cases today. Female-founded startups in the US reached $58.8 billion in exits in 2021. Work-Bench reported that “the female-led teams generate 35% higher return on investment than all-male teams”. It’s time for the world to pay greater attention to those cases.
In May 2022, I hosted an event, “Diversity redefined: the future of women’s economic empowerment in Web 3.0”, in collaboration with shechain.co, Unit Network and RollApp.store in Davos.
About the event: What will shape tomorrow’s economic transformations in the world of Web 3.0? Inspiring women leaders are establishing that today. Policymakers, investors, and organizations have shifted their focus toward the societal and economic aspects of gender parity. While the Web 3.0 industry has distributed wealth to the broader society, the state of equal opportunity is still in doubt in terms of income and advancement to the boardroom. Non-fungible tokens (NFTs) have restructured the wealth distribution in the art, technology, and finance industries, facilitating the mass adoption of blockchain technology. The value that people place on authenticity and collaboration are the driving forces that will redefine the gender balance in Web 3.0.
The panel discussion concluded that more economic empowerment is necessary to lower the entry barrier and encourage more women to participate in Web 3.0. So, how do we make it happen?
The more responsible women in Web 3.0 shape the scene, the earlier the gender diversity economy will prosper. I was honoured to lead the conversation with the panellists representing the successful female leadership examples in Web 3.0; Valerie Florence Halter is a co-founder of CurioDAO, pioneering real-world asset tokenization. Kate Vass is the founder of Kate Vass Galerie and has run an online NFT art gallery since the pandemic. Sandra Tusin is a venture capitalist of Outlier Ventures and a co-founder of NFT Soho. Irina Heaver is a general partner of Ikigai Ventures and a crypto lawyer. Natalia Toporkova is one of the initial team members of the 1inch Network. Thy-Diep (“Yip”) Ta is a co-founder of Unit Network and an author of Beautiful Brains Change Tomorrow…today!. One of the common treats all the panellists have is authenticity. They are not only well-versed in the industry but also working extremely well to advance the industry utilizing their talent.
One of our attendees, Irina Berezina from Uplift DAO, shared her view; “It has been proven repeatedly that balance, diversity and equality in teams are critical to creating the strongest results. This is why support for women in crypto leadership positions is crucial for the world to take Web 3.0 to the next level.”
The future of Web 3.0 will be defined by men and women who come from many different backgrounds, with diverse experiences and perspectives on what this technology can do for humanity as a whole. In other words, the future of Web 3.0 will be shaped by not only responsible women leaders but also men who actively support the women’s economic empowerment movement.
Inclusion is a process of creating an equitable space that allows growth for all. Inclusivity is not just about gender, race or any other type of diversity; it requires an understanding of intersectionality, which acknowledges the various identities you represent. It also requires working with people who have different perspectives than you do. You have to be open to change and willing to learn from others if you want inclusion exercised in your team or your company culture!
The Web 3.0 space must define diversity and inclusion to include all women and minority groups, ensuring they have access to the resources they need to build a better financial system. We must also ensure that representation of these groups is well-represented in both the technical community and leadership roles at all levels of decision-making within organizations. This includes providing equal opportunities for women and minorities everywhere, from hiring managers to shareholders, so everyone gets their fair share of power when working towards this goal.
What comes next? Let us all participate in the game, not only women driving the women empowerment movement but also men sharing their voices about the importance of this agenda. I’d love to hear your thoughts.
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