“Just 46 years ago, The Equal Credit Opportunity Act of 1974 finally allowed single women to access their own lines of credit. Now in 2020, with the help of cryptocurrency, we have the opportunity to allow access to financial freedom and independence to all that are underserved and underrepresented. Now is our chance to educate and to build a financial system for the future.”
Beth Kurteson, Managing Director of Operations, People Strategy and Growth, Gemini
In the world we live in today, there are still 72 countries where women are prohibited or restricted from opening bank accounts or obtaining credit. Yup, 72.
More than 1.7 billion unbanked individuals lack the access to national and international financial institutions, leaving them without access to credit and liquidity.
As wealth inequality continues to rise, cryptocurrencies may offer an answer in providing equal financial opportunity.
Well — because cryptocurrencies allow for a new way to handle money using a digital wallet. It allows anyone across borders to transact value in a matter of seconds. This is crucial as in 2020 cross border payments are still slow due to the intermediaries who facilitate these transactions. Blockchain, the underlying technology of cryptocurrencies, provides a single network, which moves monetary value in a global and open network. Just like the internet connected people, blockchain can do so for our global economy.
The beauty of crypto is that it allows for a new narrative — one without centralization. Different from fiat (government issued) currencies, cryptocurrencies are not controlled by any countries or third party entities.
The very nature of cryptocurrencies makes them immune to the corruption that can too-often be the central characteristic of large institutions.
So what’s the link between women and crypto?
Women historically have been left behind in the financial and technology sector and unfortunately, the crypto world is no different. In 2018, reports published stated that only 8.5% of Bitcoin traders were women. Today, on Coin Dance, women’s Bitcoin community engagement has slightly increased to 12.3%.
Although more women are getting involved in Blockchain and crypto related professions, many are still not trading.
To bridge the gender gap in the crypto and trading world, we started Alinea Invest.
Alinea Invest was created to empower women through financial education, so they could invest and take charge of their future.
In the midst of this technological and economic reconfiguration, we need women now more than ever to partake in reshaping and redefining our future. We won’t be left behind this time!
Join our waitlist today!
By ~ Eve Halimi