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REPORT | According to a 2023 report, Kenyan women are the most involved in cryptocurrency in Africa and rank third globally.

A recent 2023 research states that women hold 42% of cryptocurrency in Kenya, placing the nation first in Africa and third globally in terms of “crypto equality.”

In order to examine the discrepancy in gender representation in leadership and influential roles within the cryptocurrency and blockchain industry, the paper looked into a few important questions:

  • Is there an imbalance between the genders in the crypto industry?
  • Is this affecting engagement from underrepresented groups, leading to lower interest in owning cryptocurrency?

The following were determined to be the top nations where women possess cryptocurrency:

  • Vietnam (47%)
  • Indonesia (43%)
  • In third place are Kenya and Colombia, with women making up 42% of total crypto owners in both countries

Like Vietnam and Indonesia, Kenya and Columbia are developing economies where jobs are typically scarcer and pay less than in industrialised countries, and traditional gender roles are more prevalent with men typically serving as the family’s primary provider. “Where the local economy or culture provides few opportunities for women to succeed, the high proportion of female crypto owners in these countries suggests that women are using crypto as a means of earning additional income,” the survey stated.

The complete list of cryptocurrency ownership by gender globally is provided below.

South Africa and Nigeria were among the nations that made the list based on a different criterion measuring the proportionality of women owners. This measure is the point in the population where the proportion of female cryptocurrency owners is highest.

Women’s contributions as leaders and influencers in the cryptocurrency community were also examined in the report, which came to the conclusion that they are disproportionately underrepresented in positions of leadership in the blockchain and cryptocurrency industries.

Among the fifty blockchain startups examined in the study:

  • Only 6% of CEOs were women, while
  • Men held 94% of top executive positions

Taking into account leadership positions other than those of CEO, it is clear that:

  • Men held approximately 77.6%, while
  • Women accounted for just 22.4% of these positions

Chainalysis emerged as the front-runner in terms of female representation, with 46 percent of leadership roles held by women. Following closely after were BitOasis and Coinbase, with roughly 42% and 33% of women in senior positions, respectively.

Just seven of the top 50 influencers in the cryptocurrency industry on Twitter were female, according to the analysis that examined the space. This means that only 14% of well-known speakers in the cryptocurrency space are female. Regarding reach and engagement, Layah Heilpern ranked top among women, and Brad Garlinghouse, the CEO of Ripple, was found to be the most engaging crypto influencer overall.

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