The world of cryptocurrency is currently dominated by men. According to a report from the crypto market Gemini, women comprise only about a quarter of the Web3 marketplace investors. In addition, women account for only about 15% of crypto owners, according to Yahoo! Finance.
To bring some equality to the marketplace, Mastercard is launching The Belle Block, a community focused on educating women and non-binary individuals about crypto and the Web3 technology that powers it. The new platform prioritizes education, listening and learning to bring more diversity to the digital ecosystem.
“We are energized to collaborate, listen and co-innovate in support of business and consumer needs,” said Jorn Lambert, Mastercard’s chief digital officer, in a statement. “Today marks the start of an exciting and forward-thinking journey to together bring more women and underserved communities to the table in the Web3 and crypto world.”
Using Mastercard’s Global Crypto and Blockchain team’s expertise, The Belle Block will partner with members of the Web3 community to educate women about the potential in business growth, education and leadership, as well as advice on legal and regulatory advocacy and entrepreneurship.
According to Mastercard’s recently launched New Payments Index, 90% of women have heard of cryptocurrency, but their overall understanding of the market and terminology generally lacks behind that of their male counterparts. For instance, 75% of men are familiar with non-fungible tokens, compared with 58% of women. Similarly, 71% of men are familiar with blockchain, compared with 59% of women.
Despite the general lack of familiarity with the market vs. men, three-quarters of women who are familiar with crypto say they would use it more if they understood it better, according to Mastercard.
To further this education, Mastercard has enlisted several industry influencers to help launch The Belle Block with their stories, expertise and insights. Among those presenting on Mastercard’s behalf at NFT.NYC Week are Maggie Love of SheFi, Candace Stewart of HerHouse, Cynthia Huang of Blu3 DAO, and Deana Burke of Boys Club.
