Women W3Mpower Crypto Analytics & User Data

1. Executive Summary.

Women W3mpower is an initiative that addresses the gender gap and the lack of inclusion and diversity in the tech and blockchain industry.

The project’s focus is educating female legal professionals on crypto, blockchain and Web3 followed by creating a she-buddy networking environment where women feel safe and empowered to build their careers and establish themselves as industry professionals.

Our initiative targets women, and those that identify as women, of underrepresented communities and regions that might not have had equal opportunities to get access to education and necessary tooling to seek their career in the blockchain industry.
2. The Problem.

History shows that the technology and financial sectors have always been male-dominated. Although women outnumber men at the education level, when it comes to participation and collaboration in tech-oriented services, men outnumber women.

Despite the recent hypergrowth of the blockchain industry, the women still remain underrepresented in this field of technology.

Women make up only 28.8% of the tech workforce with only 16% of women in senior-level tech jobs and 10% in executive positions.

Moreover, Black, Multiracial, Indigenous, Pacific Islander, and Latin Women made up the bottom 6% of all tech industry new hires.

Female-founded blockchain projects received only 2.0% of venture capital in 2020.

These statistics only show that access for women to tech education and career opportunities is still limited, which tends to hold them back from achieving their highest potential. The blockchain industry is an environment where the skills and talent of an individual are valued more than their background and identity, and it breaks away from the norm that currently exists and poses an opportunity for women to come onboard and make their place in the field.
2.1. Lack of women involvement in tech in Cyprus and Greece.

Cyprus
A research was conducted at the beginning of October in order to find statistics about Cyprus and Greece's unemployment rates. The study was focused on women's unemployment rates regarding women in STEM, blockchain, and legal tech. The results are no surprise, as the unemployment rates are really high. According to the research, the men's rates in STEM are 7 times higher than women's - 27% of men compared to 4% of women.

Cyprus and Greece are both Greek-speaking countries, share the same religious beliefs, and have similar societal backgrounds. Deloitte’s STEM research focused on Cyprus highlights that the issues lie in gender stereotypes and culture itself as the STEM field is perceived as ‘masculine’. Women are less likely to be involved in the tech industry. This results in pay gaps, gender bias, and women being treated differently in tech workplaces, as they are generally male-dominated, have strong ‘bro culture’, and are not welcoming towards women and minorities.

Deloitte further breaks down challenges women face in the STEM industry. Cultural and societal prejudice in those workplaces, perceive women as ‘mothers role models’, rather than ‘breadwinners’ and capable workers. Around 53% of women are passed over for promotion and seen as leaders, 44% of women are seen as less capable due to their gender, which brings to obvious pay gap in regards to women - around 57%.

The unwelcoming workplaces setting for women is not only present in the tech industry which potentially can explain the increasing unemployment rate for women in Cyprus. According to this year’s data, the unemployment rate for women between 15-24 grew significantly to 18.9% in June, from 16.9% in March. Unemployment rate has increased for both genders, however we can see fewer men without jobs.




Greece
Women unemployment rate 16.1% in August 2022 (Source)
Women unemployment rate less than 25 years old, 34,2% August 2022 (Source)
Women unemployment rate over 25 years old, 14,9% August 2022 (Source)
Women employment rate in Technology: 22.8% - 2021 (Source)
There are no official statistics for Legal Tech presence in Greece is very small and at an innovative stage. As well as women in blockchain technology is almost non-existent. There is room for development and education. One example is that Google is opening their offices in Athens, so more women will be interested in Technology professions.

It is projected that the universal numbers on Women in Technology will increase into 55.4% by 2024 (Source)
3. Our Solution.

Cyprus is one of the early crypto-friendly countries, while Greece is still behind in the growing blockchain ecosystem.
There is no official data for women in blockchain technology, but it seems that there is a significance towards Cyprus. Lots of conferences on Blockchain are taking place there as well as people choosing to establish their technology business there. As well as there is a good Legal Tech presence, which means that there is space for development.