As the decentralized model of cryptocurrencies continues to gain traction and – dare we say – start to make its way into mainstream adoption, one of the most pertinent questions is the level to which this new digital financial system will be open to women who wish to get a piece of the billion dollar pie.
One of the beautiful aspects of blockchain technology is that it does not discriminate, similar to the concept of a Metaverse that offers up a digital world that is borderless and offers more equality than we will ever have in the “real world.” While traditional finance is still dominated by men, DeFi has every possibility to offer a safe haven for women who have previously faced gender discrimination.
In light of this, Rakhi Shah of AlexaBlockchain spoke to a few of the women from the Fiat24 team in Zurich, Switzerland. Fiat24 is a Web3-ready banking ecosystem that is FINMA regulated, and which aims to bridge the gap between centralized and decentralized systems, with their own metaverse where businesses and private clients alike can buy land to gain visibility.
With a small team of 9 people, 4 are women – 1 in marketing, 1 in regulation, 1 in treasury, and 1 in business development. AlexaBlockchain caught up with 3 of them to ask them how they got started in the industry, what challenges they face, and what advice they have for other women.
Karen, 35 years old, working for Fiat24 for 3 months
Hi Karen. Thanks for talking to us. First of all, can you share how you got into the crypto space?
Thanks for having a chat with me! So actually, I kind of fell into it by accident to be honest. I had previously worked in marketing in the biotech sector and felt that it wasn’t really for me, and was looking for a new challenge. I discovered Fiat24 by chance, but quickly fell in love with the team, the technology, the concept and my interest was really sparked right away! I think blockchain and smart contracts are the tools we need in order to build a new, better iteration of the web (Web3). I am still in my early days, but have been fortunate enough to learn a lot from my colleagues, attending events and conferences, and through self study.
Nice! And how are you finding the experience as a woman so far?
I have been surprised at how many women I have seen at crypto and blockchain events both in Zurich and abroad. Certainly much more than I expected. I think women are getting to be more and more represented in the industry, but what is missing is more visibility.
Despite being in a predominantly male dominated industry, I have always felt welcome and respected as an equal, both at the workplace and at events that I’ve attended. I have even discovered a couple of women who are really badass and who I admire – Olga Feldmeier, who I was lucky enough to meet and watch on a panel, and Kelly Vero, who I will be meeting soon in Davos!
Are there any challenges you want to highlight so far?
There really aren’t any that I have experienced personally, but from what I have noticed, I think that more could be done in terms of educating women and getting them excited about blockchain technologies and crypto. While it might be a hot topic for men to discuss together, it might be less so for a group of women.
And, as I mentioned before, I think we do need to give the women who are active and just as well-versed and knowledgeable as the men, more opportunities to speak on a global stage and become more publicly visible.
Why do you think it is important for women to work in crypto/DeFi?
I think it’s really interesting that both crypto and blockchain came from a combination of finance and tech, both industries that don’t traditionally have a lot of women. It’s important for women to get into it because blockchain is by definition an ecosystem that allows for the participation of everyone, regardless of location, culture, or gender.
It’s only going to continue to see new heights I think, and why shouldn’t women also profit from the innovations at hand?
Finally, do you have any advice for other women who wish to work in the industry?
Yes – don’t be intimated! Not by men and not by the tech!
There are lots of entry points into crypto and even people without specialised technical capabilities can find a way in to the industry if they are passionate and willing to learn, and work hard too!
Jessica, 44 years old, working for Fiat24 for 3 years
Hi Jessica. Thanks for talking to us. Do you want to tell us how you got into the crypto space?
My background is a little different – I have been an electrical engineer and I have programming experience. I found my job at Fiat24 by chance, and decided to say this long because I love blockchain technology.
I think that it is very useful, not only in crypto, but it can go in many different directions and has the possibility to innovate in a wide range of industries and ways.
Are there any challenges you want to highlight so far?
I have luckily not experienced many personal challenges, but something that has occurred to me recently is that most women I know in the crypto/blockchain space work in marketing and supporting roles, which is great. But I believe that what we need now is more women who work in the tech side and aspect.
Why do you think it is important for women to work in crypto/DeFi?
Personally, I look at what Metaverse and crypto projects are doing, and I feel that so many of them have clearly been designed for men! I think once we have more women in fintech, the output of technology will also change and products will be designed more with women in mind.
Finally, do you have any advice for other women who wish to work in the industry?
My advice for women is to take more time to understand and learn the technology behind cryptocurrencies, blockchain, smart contracts.
The more women who are well educated, the more women there will be to create innovation in the sector. I would love to see more courses about crypto and blockchain aimed at women specifically.
Stacy, 24 years old, the newest member of Fiat24
Hi Stacy. Thanks for talking to us. Can you also share with us how you got into the crypto space?
Thank you! I have worked in crypto for a few years now, starting with Crypto Capital in China, which was founded by a friend. She was constantly talking to me about Bitcoin and Ethereum, and eventually, I started to read up more about it on my own. I then worked for this crypto exchange company, learning even more from my colleagues and enjoying the experience fully.
I just joined Fiat24, and am excited to continue my journey in crypto!
And how are you finding the experience as a woman so far?
I’m really glad that I chose this industry – the future development of mankind is inseparable from blockchain technology.
I find it very stimulating to get the chance to discuss economy, finance, technology and culture with colleagues every single day.
And, as a woman, I feel very proud because this industry still has more men and fewer women, so I feel that I have made contributions as a woman, which will hopefully inspire others!
Are there any challenges you want to highlight so far?
I have not so far come across many challenges. I am from China and when I worked there in crypto, I found that there was a very high percentage of women working in the field. In fact, I would say that, among Chinese employers, women are actually favoured in the hiring process sometimes!
I suppose the only comment I can make here is that I would like to see more public figures or higher level positions filled by females in the future.
Finally, do you have any advice for other women who wish to work in the industry?
Love it ,learn it, you will get it!
Thank you ladies! You are all very inspiring and we hope to see the continued growth of women in all aspects of fintech.
To learn more about Fiat24, visit www.fiat24.com or medium.com/fiat24
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