The place of a woman in Chinese digital currency culture

The place of a woman in Chinese digital currency culture
Aug 20, 2018 by Rico Wise

There is always a lot of opinions on how women are (not) involved in the sector of digital currency and blockchain innovations.

According to the research findings, only as little as 4% of digital currency financiers are women. Additionally, men often get called out for pushing women out of another productive emerging market.

Nevertheless, this sentiment is correct mainly for the Western part of the worldwide cryptocommunity. Speaking of the East, namely of Asian countries, such as Japan, China, and South Korea, the situation is not quite different, although the emerging industry strives for equality and dynamics on a better scale overall.

Even though Chinese government has banned initial coin offerings and brought BTC trading to a factual suspension, China was still responsible for more than 50% of the globe’s patent filings regarding blockchain innovations in 2017. Moreover, China is home to three dominant digital currencies by market capitalization, which commenced operations this year – IOST, Ontology, and Zilliqa.

So why isn’t there much to learn about women in Chinese cryptospace? For that, one has to comprehend the realities of Chinese cryptospace to begin with.

In spite of the ban on digital currency trading, there is a huge thirst for making a crypto fortune, with traders resorting to making bets in neighboring Asian countries. Strict policymaking did not do much good for fraud prevention, with a lot of scamming startups commenced abroad, and improperly educated (if that) male BTC millionaires exist in abundance. The cryptocurrency space of China is more riddled with scams than in any other part of the world.

There is a strong presence of get-rich-quick mentality in China, which creates additional roadblocks for women to break through the wall and make a formidable stand. Additionally, women are not taken seriously when it comes to doing business, and there are approximately only 8 females for every hundred of blockchain meeting participants, some of whom would invite those women on a date rather than discuss business with them, especially when it comes to blockchain industry.