7 blockchain project ideas for women
Why are blockchain projects important for female empowerment?
Blockchain technology can serve as a transformative tool to empower women in all socio-economic situations worldwide. Both current blockchain trends and future blockchain applications reveal that blockchain presents significant opportunities for women worldwide.
There are many inequalities between men and women when it comes to work, economic opportunities and rights. In its broadest sense, blockchain technology can empower women in their economic agency and autonomy, two closely interconnected things. This means that when women gain economic power, their ability to decide their lives increases.
Because blockchain is a gender-neutral technology, it is inclusive and offers open access to individuals worldwide, regardless of their background, identity or other potential differentiator. All you need is internet access and a basic understanding of how to use the decentralized web, and you’re good to go to engage in the global economy. Women can immediately join the industry by choosing a blockchain career in a blockchain company or take advantage of the many other opportunities out there – such as decentralized finance (DeFi).
For example, any woman can contribute to blockchain projects via community. As many blockchain projects are open source, female developers can navigate the repositories. Women can also engage in other ways with Web3, for example by participating in a decentralized autonomous organization (DAO), running a node, mining cryptocurrencies or staking them.
Moreover, blockchain-based payment systems can enable women in developing countries to participate in the global economy by providing them with secure, affordable payment solutions. When women decide to trade, use or invest in cryptocurrencies or blockchain projects, they are ultimately directly giving their financial capacity and agency to decide over their own lives.
Crucially, women all over the world are increasingly curious about crypto. This will allow them to engage in blockchain projects as well. Globally, almost half of all those planning to buy cryptocurrencies for the first time are women. And since economic empowerment directly facilitates social mobilization, blockchain can continue to spur women in their autonomy and agency. Eventually, overall progress in all other parts of life and the economy can be made when more women make use of blockchain and develop new Web3 project ideas.
Why is blockchain a great place for female entrepreneurs?
As an open and merit-based space, female entrepreneurs can also leverage the level playing field of blockchain to bring their perspectives and businesses to the table. When women use blockchain infrastructure as a new business opportunity or build new businesses on top of blockchain technology, blockchain enables growth and financial inclusion while reducing inequality.
As a nascent industry, there are very few established norms, making the blockchain space an ideal opportunity for female entrepreneurs to enter the industry and position themselves as leaders.
Also, as blockchain technology is inherently decentralized, it naturally eliminates the need for intermediaries, which have historically been male-dominated. Blockchain also challenges intermediaries and removes the requirement to use traditional gatekeepers, such as banks, other financial institutions and government institutions. This can lead to more diversity and inclusion in entrepreneurship, which is often lacking in traditional finance and other technology verticals.
It is crucial that the blockchain industry offers a level playing field for female entrepreneurs. Unlike traditional industries, where women often face barriers to entry and bias, the blockchain industry is merit-based, meaning that one’s skills and abilities determine success. The industry has a supportive community dedicated to diversity and inclusion. Female entrepreneurs can connect with like-minded individuals, gain mentorship and access other resources to help them flourish.
As women globally utilize and develop new companies and business models based on blockchain technology, access to new income streams directly promotes their empowerment and autonomy. In this way, female entrepreneurs can establish themselves as leaders and disruptors in the industry and in other parts of life.
Related: Top 11 Most Influential Women in Tech History
What are some blockchain projects to spur women globally?
Blockchain projects not only create new jobs and stimulate female entrepreneurship, but also improve women’s rights and other opportunities depending on the specific use case of the project. Projects aimed at gender-based violence prevention, financial inclusion, supply chain transparency, land ownership and protection of women’s rights are all ideas to support women globally. In addition, more holistic platforms aimed at female education and entrepreneurship can be good ways to empower women via decentralized infrastructure.
Prevention of gender-based violence
Different blockchain project ideas for beginners can already start a woman’s personal development in the most practical terms. For example, women can consider creating blockchain-based solutions that prevent gender-based violence. Such a platform can provide a safe and anonymous channel for victims to report incidents and receive support. The platform can also provide organizations and authorities with a way to track and respond to issues in a trustless manner.
Offers financial services and (micro)loans
A similar platform could give women access to financial services, such as (micro)loans, insurance and wallet-based savings accounts. Microloans are essentially business loans provided through community-based solutions. They are crucial for female empowerment as women can struggle to access capital through traditional banks.
Supply chain tracking for women-owned businesses
All over the world, women-owned businesses that produce products can benefit from a solution that allows for supply chain tracking, ultimately enabling ethical and sustainable practices while offering the opportunity to support female entrepreneurs directly. By creating a blockchain-based solution that helps women-owned businesses track and verify the authenticity and origin of other products they use, end customers can decide to support said women-owned business, for example by redirecting refunds to individual wallets.
A decentralized registry for women’s property
Another interesting blockchain project idea would be to develop a blockchain-based solution that provides secure and transparent land ownership records for women. It is crucial that the platform can help women prove their ownership of land and property, which is often a challenge in many parts of the world.
Reporting and monitoring of solutions for women’s rights
As an indigenous solution or in collaboration with international institutions, such as the UN, one can consider developing a blockchain-based platform to protect women’s rights, such as their right to education, work and equal pay. The platform can give women a way to report and track cases. Human rights officers and advocates can use a decentralized platform as a trustless repository to monitor and report on developments in women’s rights.
Cooperative society to stimulate education
Other more holistic solutions for female empowerment include a blockchain-based platform that allows women to connect and collaborate, access training and showcase their professional milestones, for example through non-fungible tokens (NFT).
An investment DAO to support female entrepreneurship
Likewise, a blockchain-based investment platform, or decentralized autonomous organization (DAO), could be built to support female entrepreneurs by providing access to funding and investment, ultimately further reducing barriers to entry. As a decentralized organization, all investment decisions will be made through a democratic process involving all members of the DAO. After making investments, an investment DAO can provide support to portfolio companies through mentorship, connections to investors and clients, and other resources.
Related: How to incorporate DAO and issue tokens to be ready to raise money from VCs?
What are the challenges facing women in the blockchain industry today?
While initiatives aimed at promoting gender diversity and inclusion are out there, the industry faces challenges, including a lack of female representation. Moreover, full female participation in the decentralized economy can only be possible after the necessary investments in basic (digital) infrastructure have been made.
Figures suggest a significant gender gap in the blockchain industry. One study found that of the leading Web3 companies, only less than 5% were founded by women, and less than 10% of partners in all crypto venture funds are women. Also, women-founded Web3 technology firms account for only 2% of venture capital funding. The results are echoed in another study which shows that only 13% of Web3 founding teams include a woman, and only 3% have an all-female team.
Several barriers contribute to the low number of women in the blockchain industry. For example, the industry can be perceived as highly technical and intimidating for women unfamiliar with blockchain. Also, women may suffer from impostor syndrome or underestimate themselves by believing that they are not skilled enough to join the sector.
It is important to mention that although it is male dominated, the blockchain sector is very inclusive, encouraging and friendly and offers all kinds of jobs beyond technological ones. That said, it’s important that women always remain cautious and educate themselves about potential risks and dangers when delving into a new industry. For example, some women have faced unethical or criminal behavior in virtual worlds due to the anonymity and lack of oversight by law enforcement agencies.
Educational initiatives can also stimulate gender diversity and female empowerment. For example, the DLT Talents Program, a free merit-based education program run by the Frankfurt School Blockchain Center, offers blockchain education to women worldwide. Additionally, many women are industry leaders in the rapidly developing and expanding blockchain sector, illustrating the inclusive, horizontal and merit-based approach many blockchain companies are taking regarding upward mobility.
Finally, it is important to mention that while blockchain can deliver economic empowerment, transparency and new business opportunities, blockchain technology itself is not a silver bullet for all of humanity’s structural problems. Practical impossibilities, such as a lack of internet-connected devices, can stand in the way of access to blockchain infrastructure, and thus prevent women from entering on a level playing field in the first place. And in some other cases, participation in the decentralized economy may only be possible after the necessary investments in basic (digital) infrastructure have been made.
