Binance’s Commitment To Gender Equality in Africa and Beyond
Freedom of money.
Equal opportunity.
At Binance, these are the two driving forces behind our mission. For that reason, we will always champion movements that promote these beliefs.
In honor of International Women’s Month, we’d like to reiterate our commitment to creating an inclusive crypto ecosystem in Africa and the world, as well as celebrate the women of Binance.
The Crypto Gender Gap
To this day, technology remains a male-dominated sector. Without representation, an office workplace can quickly become a breeding ground for gender biases and discrimination. Likewise, the gender gap is evident in crypto.
Of the 378 venture-backed crypto and blockchain companies founded globally between 2012 and 2018, only one had an all-female founding team, and only 31 (8.2%) had a combination of male and female founders. Outside of leadership, women are grossly under-represented in the workforce, with 95% of people in the blockchain industry being men according to the Global Crypto User Index.
Crypto was made for everyone, yet the numbers don’t preach this sentiment. For the crypto space to move forward, change is necessary, and we are leading that change. Binance is one of the very few companies with a male and female cofounder. He Yi, our current chief marketing officer, co-founded the company alongside CZ.
In addition to Yi, women hold senior positions across many of Binance’s departments, including Public Relations and Communications, Compliance, Fiat, Design, NFT, Binance Charity and more.
He Yi, Co-founder and Chief Marketing Officer of Binance
Helen Hai, Head of Binance Charity and Binance NFT
Damilola Odufuwa, Head of Product Communications
Carine Dikambi, Francophone Africa Lead
Laura Li, Country Manager for Africa
Zane Wong, Director of KYC Compliance
We asked some of them to share their thoughts on what crypto means to them, why they first joined and what motivates them to stay.
Damilola Odufuwa: The power of crypto and women’s rights
I’ve always been passionate about financial inclusion for women. I was sold as soon as I realized the impact crypto and blockchain technology could have on women’s rights. I was determined to use my experience in media and communications to aid the conversation on how tech & crypto can work hand-in-hand with tech & women's rights to democratize the microphone that has traditionally been reserved to those in power. Of course, I was also drawn to the industry’s influence, use cases, transparency and rapidly evolving nature.
Laura Li: Profound use cases
Cryptocurrency has some of the most profound use cases in Africa, so working in my capacity has been extremely exciting. Before Binance and crypto, I worked as an early-stage investor in African regions. Once I understood how blockchain could impact financial inclusion and economies at large, I decided to take a bigger step into the industry without hesitation.
Carine Diks: Transforming lives through crypto
Crypto holds a close spot in my life. I’m motivated every day by the impact my company, Binance, has had on the local community and how crypto has provided a lifeline for Africans. Blockchain is a transformative technology that improves lives and delivers financial freedom and inclusion for millions.
Pushing Education and Equal Opportunity
Since our inception in 2017, Binance has fostered a company culture that isn’t afraid to innovate and break the status quo. Besides increased representation, Binance pushes female-driven educational initiatives, networking opportunities for women in blockchain, post-work degrees, upskilling courses, and not to mention basic policies that every company should uphold: equal pay and maternal leave. In the following section, you’ll get a glimpse at a few initiatives we’re running in Binance Africa.
According to Project Syndicate, the overall female labor-force participation rate in sub-Saharan Africa has reached 61%, yet women constitute only 30% of professionals in the tech industry.
Binance Bootcamp for Women
At Binance, we are firm believers in creating career opportunities and initiatives tailored to meet the demands of a changing world. For International Women’s Month, Binance Africa is hosting an 8-week boot camp to equip women with the necessary tools and skills for a career in blockchain. Participants will work on hands-on projects and build important critical thinking skills with real-world problems and solutions. In addition to our boot camp, we have been actively providing free educational courses through Binance Masterclass and Binance Charity's MaMaToTheRescue. Keep reading to learn more about each initiative.
Binance Masterclass
Binance Masterclass was created in 2020 as a series of free crypto classes open to everyone in Africa. These classes teach everything, from crypto basics and responsible trading to developing blockchain applications. We had a chance to speak with one of our female participants, who is now a qualified blockchain developer building DeFi solutions with her former Masterclass classmates:
“Binance Masterclass was what led me to up my game. I was able to meet a lot of new people there, and as I speak, we’re already building a couple of projects together. The connections I made are now my colleagues. They’ve taught me so many things about blockchain technology. The Masterclass was very impactful for me—I can't stress that enough."
Binance Charity: MaMaToTheRescue
In February 2021, Binance Charity, the philanthropic arm of Binance, launched the MamaToTheRescue project to strengthen the Kenyan economy and empower women with new and sustainable technical skills. Binance Charity sourced and donated sewing machines, creating job opportunities for local women.
Leading Change
As a four-year-old startup, we recognize there’s always room for growth. We innovate, learn and improve every day. The initiatives mentioned above are just a few of many we’ve developed and planned over the years.
The team at Binance is determined to lead change in the industry and build a more inclusive ecosystem.
We hope other companies, in or outside our space, can practice what crypto was made for—freedom from repression.
Together, we will break the bias.