Crypto Was Built for Her. And She Has No Idea.
Personal Essay
One weekend every month I volunteer and run a self defense workshop for women. I was an athlete and a fighter for a number of years, it gives me a lot of joy to pass my knowledge on.
The first workshop a few months ago started with 3 women, last weekend we had 8. Every time I meet completely different women from all walks of life, careers, and demographics. These workshops are deliberately advertised through word of mouth, mum groups etc. We try to be discreet because we always want these workshops to feel exclusive, personal and safe.
I'll be honest, these workshops started out as a way for me to get active again, and simply share some of my knowledge from my time as a fighter. When my friend and I came up with the idea, we saw these workshops as a great opportunity for us to connect with more women, and honestly, for me? A chance to get away from the computer on my weekends.
We cover everything from establishing a stance to technical stand ups, to what to do when pinned against a wall, to escaping guard or striking weak points to get away.
We learned quickly that these workshops would come to be really important; way more important than we anticipated. Heartbreakingly, nearly every single woman that comes to these workshops is either stuck in an abusive relationship with a spouse/partner or family member, or has been attacked in some way. I would say 90% of the women who have come so far have experienced, or are currently suffering with, abuse.
One woman who came last month had a knife held to her throat in a park the week before the workshop, that's why she came.
Another was cornered by a total stranger when she went to the bathroom in a busy restaurant last week.
For the women in domestically abusive relationships, one of the biggest things used to control them is money.
Many of them have partners or family members who control the finances, control the flow of money in the household, even access and control their benefit payments etc. And no, if you're wondering, it's really not as easy as just leaving. As an example, it's not as simple as just calling Centrelink to ask to redirect parenting payments. Restricted access to finances is a calculated control mechanism used by many abusive partners or family members to further isolate women.
So at the end of these workshop sessions, we started talking about crypto. We don't talk about NFTs, or RWA tokenisation, or the next 100x.
Just: here is a wallet, your seedphrase, here is an exchange, here is how you build something that is yours, that no one can see, or take without your knowledge. Here's how to store your seedphrase safely, hide it in journals, write it down somewhere. Don't click on suspicious emails or links sent to you. Ask family or friends to donate and deposit to this address if they can.
That sort of thing. Starting small. It might take some time to build something that will actually help them leave or give them substantial options, but the knowledge that they have something of their own which they control, is a really important first step.
And in those conversations, everything the industry tells us matters for end users like the UX, the yields, and the partner integrations, fades a little. What matters is far simpler than any of that.
Financial sovereignty. Ownership. A basic conversation about why crypto even exists and who it's for.
The Disconnect in our Industry.
Sometimes, I log on here on LinkedIn or X and as I'm scrolling the feed, I read of new raises, new ventures, new reports, and news about the markets. Often, it feels like there is a huge disconnect between the timeline and the conversations I'm having with these women about crypto.
There is a saying in marketing, talk to your users, not at them. I wonder how many conversations are actually taking place with the everyday users this industry is building for.
And are we listening to the women who are already here?
There is this conceived notion that the crypto and tech industry is struggling to attract and retain women. It's clear to me this isn't true: Women want to get into crypto. Women want to work in crypto.
The barriers are often structural and cultural, though.
Coinlaw.io recently released their Men vs Women in Crypto Adoption Statistics, these particular findings stood out to me:
60% of women cite lack of crypto knowledge as a barrier to entry.
Financial literacy training increases crypto participation among women by up to 30%.
52% of women agree that crypto can help them attain financial independence.
Only 6% of crypto CEOs are women, while 94% are male.
Gen Z women show the highest growth rate in crypto participation.
60% of women report experiencing discrimination or discomfort in crypto spaces.
Whenever IWD comes around and the topic of diversity and inclusivity rises again, it continually feels like it's missing the mark, and I think the reason for that is the pace of innovation has quickened and the pressure to build competitive products is compounding quickly.
In my last newsletter, I covered what Women Actually Need in Tech and Crypto. To add to that, I think it's important to understand the context of why things feel like they're not changing fast enough.
When the industry is pressured to produce and perform like this, in volatile markets no less, often the first thing ignored and neglected is operational infrastructure. HR. Organisational frameworks.
Because the focus gets placed on producing, building, shipping, raising, and WINNING.
When these operational frameworks are neglected, often the first people to feel it, are women. Problematic behaviours, gender biases, and unchecked interpersonal issues are enabled when a conscious commitment to safety culture is not made by leadership.
Until those who are making product decisions, allocating capital, and defining the culture of this space truly reflect the diversity of the people they claim to be building for, we will keep having this conversation every March.
So, where do we begin? How do we as an industry that prides itself on innovation and trailblazing, stay focused on the mission of crypto? How do we not lose sight of what really matters?
We must start by remembering the whole vision for crypto was to decentralise money. Reinvent the financial system. Make it permissionless. Accessible to everyone.
'Everyone' was always the point.
These women who come to our workshops are so excited when they learn what crypto is actually about, and who it's for.
Because it's for them.
This IWD's theme is 'Balance the Scales' and I'm not sure how, but there is a second theme 'Give to Gain' too... regardless of the theme, you can't balance scales that someone else controls.
Financial sovereignty is so important, and it's the North Star of crypto.
The focus right now everywhere I look is on stablecoins, neobanks, privacy, prediction markets, AI and the next 100x, but here is what actually matters:
The real work right now begins with getting back to basics and operationalising values. Operationalising decentralisation. Bullet-proofing our teams for the next chapter of growth. Closing holes in the ship and getting back to remembering that crypto, more than anything, is supposed to be useful as P2P electronic cash that isn't controlled by any middlemen.
Sure, the VC funding matters, and the conference season is starting again, and institutional adoption is increasing, and the CLARITY Act, and.. and... and.
Beyond all of that, what's driving you? Why are you here? Who are you building for?
I don't really care about the next 100x, I care about what's being built; what's being built will become the next 100x when it solves real problems for real users.
I care about the builders who are making solutions that impact everyday life for the women who come to my workshops.
For those in war torn countries.
For the 1.3 billion adults who are still unbanked, of which women make up 55% of that unbanked population.
I care about the vision for a more equitable financial system. For everyone.
And for the women already in this industry, the builders, the founders, the educators, what do we need? We need a seat at the table where these problems are actually being solved. Not as a diversity metric or token. But as the people who understand the problem best.
Women in crypto need an industry that understands that building for the margins isn't a charity project, it's the whole point.
We understand the problem best because in many cases, we've lived it.
So this month as the focus is on IWD, let's broaden the lens and conscientiously build. Commit to creating a culture in your project that is inclusive. Keep having conversations with industry friends, real users, and organisations that have boots on the ground. Seek to understand, not to capitalise.
I know the markets are tough, I know it's been a tumultuous year. But let's not lose sight of the future we're building, and the humanity at the centre of it all.
