Designing a Crypto Economy for Women | Julianne Brands, MSx ’22

TL;DR

Cryptocurrency provides equal access to financial services, but women face barriers due to a lack of understanding and exclusionary communities.

Transcript

[MUSIC] I could feel myself starting to sweat and a pit forming at the base of my stomach share signs, I was nervous. Kind of like right now, I was 22 years old and I had was sitting in my first ever apartment all by myself, staring at my computer screen in the dark. I was about to send my entire life savings to something called Vanguard. I had jus... Read More

Key Insights

• 🖤 Investing in both traditional finance and cryptocurrency can be intimidating for individuals, particularly for women who may feel excluded and lack confidence.
• ❓ Trusted friends or mentors who can explain the significance of investing can greatly increase one's confidence and willingness to participate in the crypto economy.
• 👩‍🚀 The crypto space currently lacks diversity, with a majority of users being male, which creates exclusionary environments for women.
• 🧔‍♀️ To increase women's participation in the crypto economy, it is essential to use inclusive and beginner-friendly language, design products and communities with women in mind, and actively encourage women to take the first step.

Questions & Answers

Q: Why did the speaker feel nervous and intimidated when starting out in investing?

The speaker felt nervous because she lacked knowledge and understanding of the investing language and processes. She also felt like she didn't belong in male-dominated spaces.

Q: How did the speaker gain confidence in investing in both traditional finance and cryptocurrency?

The speaker gained confidence by seeking guidance from her 90-year-old grandmother in traditional finance and her friend Brooke in cryptocurrency. Their explanations, support, and confidence boosted her own belief in herself.

Q: What challenges do women face in the crypto space?

Women face challenges such as a lack of understanding due to unfamiliar jargon, exclusion from communities dominated by men, and assumptions that they do not belong in the crypto space.

Q: What actions does the speaker propose for improving women's participation in the crypto economy?

The speaker suggests three actions: explaining the importance of crypto in accessible language, designing products and communities with women in mind, and encouraging women to take the first step by investing and using crypto.

Summary & Key Takeaways

• The speaker shares her personal journey of feeling intimidated and excluded when trying to invest in both traditional finance (Vanguard) and cryptocurrency.

• She highlights the importance of a trusted friend or mentor who can explain the significance of investing in crypto.

• The speaker calls for three actions: explain why crypto matters in a beginner-friendly way, design products and communities with women in mind, and encourage women to take the first step.