Africa: Binance Committed to Gender Equality in Africa

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The lack of equal representation has made certain technology spaces become a breeding ground for gender biases and discrimination, particularly the crypto currency industry, Binance has said.

Although crypto currency was made to promote freedom from repression, there is an evident gender gap, Binance, the world’s leading blockchain ecosystem and crypto currency infrastructure provider, said in statement copied to the Ghanaian Times.

“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 per cent) had a combination of male and female founders,” it said.

Binance said outside of leadership, women were grossly under-represented in the workforce, with 95 per cent of people in the blockchain industry being men, according to the Global Crypto User Index.

It said Project Syndicate also posited that the overall female labour-force participation rate in sub-Saharan Africa had reached 61 per cent, yet women constitute only 30 per cent of professionals in the technology industry.

“Binance understands the importance of gender inclusivity in the blockchain world and has continued to create opportunities and initiatives tailored to meet these demands,” the statement said.

It said as part of the International Women’s Month, Binance Africa had rolled out an 8-week Bootcamp to equip women with the necessary tools and skills for a career in blockchain, adding that “The participants in the training session will work on hands-on projects and build important critical thinking skills with real-world problems and solutions.”