One panelist made a comment I found particularly interesting. She mentioned that as Web3 is community-based it’s a natural place for women to work since fostering community is an inherently feminine trait. To me, this is a major advantage in talent retention, as focusing on the humanness of employees will achieve greater benefits for an organization than enticing recruits with free pizzas and bean bag chairs. She went on to describe the product as being masculine, something that is built and then hyped to gain interest and awareness. This is one thing I see changing. Product design and development has plenty of room for input from women which I think will occur naturally as these products evolve. If women who are equally as talented as their male counterparts are allowed to be heard, a more level playing field for women seems probable. The issue is that women aren’t occupying tech jobs at the rate which men are, at all levels of organizations.
According to a recent study by Boston Consulting Group (BCG) and diversity-focused innovation studio People of Crypto Lab, only 13% of Web3 startups include a female founder, and women represent just 27% of the top Web3 workforce. In comparison, women in large tech companies hold roughly 32% of jobs. In the financial services sector, women start on equal ground but get squeezed out over time, holding half of entry-level positions but only 19% of C-suite roles, according to research by Deloitte and McKinsey. An increasing number of US-based universities are focused on improving enrolment of women in computer science programs.
What stood out most at the summit was the level of support and mentorship in all of the talks. Women need better representation in the industry and the summit showed a willingness to help each other grow in the space while embracing the realities of competition. The aim to build a web3 community which is inclusive will draw talent to increase the involvement and skillsets of women at all levels. It was great insight on how a focus on collaboration will shape the digital community which benefits the users rather than corporations.
There was an emphasis for founders to create products which solve real-world problems and do it at scale. Like any industry there is a growth period fuelled by investment and hype before it stabilizes (see regulated cannabis in North America). With those initial waves of web3 subsiding, a broader set of applications are now being developed which will serve a larger purpose. The need for global solutions is more apparent than ever and we need the brightest minds in collaboration to do so. More women in the field will provide greater collaboration and creativity in all aspects of business from product to leadership. This goes for more than just web3. We need more women that enroll in computer science programs, and companies need to do their part in hiring and promoting as well. As with any new industry, this presents a huge opportunity for female innovators who are looking to make their mark and lead by example.
Special thanks to Erin Gee of d3crypto and William Johnson of Vancouver Tech Journal for hosting!
Click here for Vancouver Tech Journal's recap of the talks from;
Speakers and Panelists
Olivia Lovenmark, Co-founder & CEO, Repose, Co-founder & CEO Duchess cocktails
Megan Nilsson, Crypto Consultant & Web3 Educator
Tricia Pang, Co-founder, GuavaGirls
Talshyn Bolatova, Founder, Leetcore
Liv Diamond, Director of Partnerships, RefractionDAO
Pocket Sun, Co-Founder & Managing Partner, SoGal Ventures
Anastasia Hambali, Director of Partnerships, Boast
Julie Bogle, Partner, BLG
Jennifer Archer, Partner – Licensing, BLG
Jacky Wong, Counsel – Intellectual Property, BLG
Danielle Windt, Associate – Privacy, BLG
Mitoshi, Humans of WoW
Katreena Tecson, Web3 builder and crypto trader, Ceminted
Ashley Smith, Co-Founder, Fame Lady Squad
Carina Kom, Game Director, MixMob