The main point
March is Women's History Month — a time to celebrate and acknowledge the vital role of women throughout history and contemporary society.
Binance believes that crypto literacy is a powerful tool to help narrow the gender gap.
From funding Web3 education to launching women-centric crypto events, Binance is on a mission to pave the way for an inclusive future.
Happy Women's History Month! Continue reading to find out how Binance is increasing female participation in the crypto space.
Since bitcoin was created in 2009, the evolution of digital money has shown an adoption curve similar to that of the internet. Today, millions of people rely on Web3 for a variety of purposes – however, there is still an important underrepresented part of the story: women.
As blockchain technology continues to show potential to democratize finance, we must avoid the gender inequality trap that many industries fall into. The blockchain industry has an obligation to support women in the Web3 workforce and expand access to crypto knowledge and education in the broader market for female investors.
Binance is on a mission to increase money freedom globally. A crucial part of this mission is bringing more diversity to the crypto ecosystem to ensure blockchain realizes its full potential. We want to empower all women who are curious about crypto to become crypto-savvy through various ongoing initiatives and events. Women’s History Month is a great time to look back at what we have achieved so far – and plan for the equitable future we are building.
Our Commitment to Funding Web3 Education for Women
Binance Charity donated $2 million to fund more than 36,000 Web3 scholarships specifically for women in 2022 and will continue to fund courses, programs and scholarships in 2023 with a focus on women and underrepresented communities. A 2023 survey by TripleA found that only 37% of women own crypto. We believe that education is critical to ensuring equitable distribution of access to digital finance and a greater diversity of voices shaping its future.
2022 scholarships are awarded to women in Germany, Nigeria, Kenya, Brazil, France, South Africa, Australia, and Ukraine – such as Chidinma, Ebeh, and many others – to study blockchain and crypto-related courses at universities, schools, and non-profit organizations. To celebrate Women's History Month (March 1-31) and International Women's Day (March 8), Binance Charity will also make an additional donation of $100,000 to Georgia's Innovation & Technology Agency (GITA) to support Web3 education and training for women.
“In the five years since Binance Charity was founded, we have helped more than 2 million women through educational and humanitarian projects. "Unfortunately, women are still disproportionately affected by the major social issues we are working to address, such as inequality, minimal access to education, and poverty," said Helen Hai, Head of Binance Charity.
In February 2023, we held our first Women in Crypto event in Dubai bringing together novice and experienced female investors to share insights, build connections and discuss the opportunities Web3 offers women globally. We plan to develop this regionally and internationally by creating events and bringing together a community of women equipped to manage all aspects of Web3.
Closing the Gender Gap Web3
A recent report by CoinJournal found that less than 5% of crypto founders at top crypto companies are women. In 2022, of the more than 10,000 companies reviewed, only 292 were founded by women.
Yi He, co-founder and chief marketing officer of Binance, was one of the first female senior leaders in the space and is now determined to help others succeed in the industry. Yi said:
"As one of the few female leaders in the industry, I believe that we are on a mission, through Binance Charity and Binance Academy, to help more women understand Web3 and blockchain technologies. Our educational and internship programs aim to empower young women with the knowledge and skills – so they are ready for industry disruption. We believe that anyone with an idea can change the world, regardless of gender. We hope this commitment will bring more women to the forefront of innovation and bring change to our industry.”
Crypto is still in its infancy. There is still time to learn important lessons from the technology industry's experience. Education must be a priority because, with Web3, we have a unique opportunity to create a diverse and well-represented workforce from the start.
The industry's increasing demand for more workers makes this an opportune time to increase the number of skilled female applicants. The results of education are enormous. Education is a priority to help close the gender gap at its source: the acceptance of qualified and trained women in the world of work.
To further address gender inequality, Binance has created its first official program for interns and graduate students, offering more access to careers in crypto for a diverse range of talents, including women. The company also provides career guidance and advice to women through workshops, educational courses and lectures focused on sharing industry experiences, as well as hosting mentoring programs for women and special talent sessions on how to enter the Web3 workforce.
We will soon be releasing a new AI product, Binance Sensei, which will allow users to ask questions while learning about crypto in our free Web3 knowledge hub, Binance Academy. In addition to providing free crypto educational resources in more than 30 languages at Academy, Binance is waiving trading fees, up to $600, through March with code IWD2023 as an additional way to welcome new users to the world of crypto.
Start today too!
Watch our exclusive International Women's Day video here:
Further Reading:
Embracing Equality on Binance
Binance Women Leaders at the Prestigious Women in Tech Conference
Binance Women's Team at Crypto Event