Cryptocurrency has stormed onto the finance scene by promising progressive, decentralised, non-governmental finance that’s community-controlled and free from political influence.

In many ways, it has achieved this feat by smashing previous financial barriers and opening investment opportunities to wider groups of people. For example, a higher percentage of young adults use crypto, thus breaking the age barrier that exists in stock market trading. Furthermore, thousands of previously unbanked people without the necessary documents or ability to open traditional bank accounts have opened crypto wallets instead.

However, cryptocurrency barriers still exist regarding the gender gap in finance. Twice as many men as women use cryptocurrency, according to CNBC and Acorn’s Invest in You: Next Gen Investor survey. Instead of bridging the gender gap, cryptocurrency actually exceeds the existing gap in traditional banking. Around 14% of men use crypto and only 7% of women. This disparity is even higher in NFT trading, where women only represent 5% of total sales volume. Considering that NFTs generated over $23 billion in 2022, this is a huge pool of money currently unexplored by women.

Cryptocurrencies have been advertised as a medium to increase financial user diversity, breaking down barriers by democratising finance. However, how do we extend this to break down the gender gap?

Female Celebrities in Crypto

There are currently some big names in the crypto scene – and not all of them are men. Madonna has been very vocal about her crypto use by regularly posting updates on her social media. Madonna’s also been public about her love of a $1.3M Bored Ape Yacht Club NFT, announcing that she has her eyes on it for her collection.

Meanwhile, Paris Hilton just made crypto news by announcing that her company 11:11 Media is joining The Sandbox metaverse. Hilton plans to launch a land where she can interact with her fans inside a virtual Malibu mansion and sell digital goods.

Although celebrity endorsements are always helpful, the crazy headlines about Malibu metaverse parties and $1.3M NFTs aren’t approachable to the wider population of women. It’s clear that more action needs to be taken by the coins themselves to make the platforms accessible across the gender gap.

Ariana Pierce and Crypto Education

In a recent interview with Forbes, crypto pioneer Ariana Pierce asserted the importance of education in increasing financial diversity. Her mission is to ensure that people of every gender, race and socioeconomic background can access the opportunities of Web3 and she believes that education is at the forefront of this journey. She sees crypto as an opportunity for women to be at the forefront when historically women, and specifically women of colour, have often been left out of industries that create wealth.

So, which cryptocurrencies are currently providing this essential education for their users?

Dogeliens and the University of Barkington

New cryptocurrency Dogeliens is launching into the metaverse with the aim of encouraging more people to use cryptocurrency. The coin is providing games and educational content to help the wider population understand cryptocurrency better. To do this, Dogeliens has created the ‘University of Barkington’, with a huge range of content available to users. Their goal is to create the best blockchain-based educational platform to encourage more people to enter the world of crypto.

Ethereum and Dogeliens Are Using Education to Tackle Crypto’s Gender Disparity

Although Dogeliens are not directly aimed at encouraging women into crypto, they are specific about demonstrating the ease of cryptocurrency payments to encourage more people to get involved and prove its accessibility. They are passionate about educating and promoting crypto to a wider audience of users. This is exactly the angle needed to create an accessible platform for more women to enter the finance scene.

Dogeliens vs. Ethereum

Ethereum also has an education platform called their ‘Learn Hub’, composed of a series of technical and non-technical articles, guides and resources. A system of tabs directs users to information that covers all of Ethereum’s bases. However, unlike Dogeliens, this is not interactive or dedicated to the inclusivity of cryptocurrency. Ethereum’s ‘Learn Hub’, is solely focused on Ethereum-based information. Although the website states that their ‘community includes people from all backgrounds’ there is little evidence pointing to the effort they’re putting in to ensure that their coin is diverse in practice.

If we want to continue viewing cryptocurrency as a medium that increases financial user diversity, more work needs to go towards educating users. Education is the key to progression and for crypto to breach the gender gap, this is the necessary next step. Ethereum’s ‘Learn Hub’ makes a start while the Dogeliens ‘university’ takes it a step further. To remain ahead of the financial game and pave the way for the future of finance, crypto needs to invest more time and energy into educating its users and diversifying its platforms.

Dogeliens (DOGET)

Presale: https://ufo.dogeliens.io 

Website: http://dogeliens.io/

Telegram: https://t.me/DogeliensOfficial

 

This article is brought to you by Emily Milton PR and is not necessarily representitive of the views of The Herald.