Breaking the bro code: How women are taking over the Web3 world in Asia

Blockchain has a diversity problem, globally. Women are significantly under-represented in the industry, with few females holding key roles, especially in Asia.

To take this problem head-on, a group of multi-talented individuals with experience in blockchain, fintech, design, banking, and market development came together and launched a non-profit.

Titled Women In Blockchain Asia (WIBA), the Kuala Lumpur-based organisation is led by Ida Mok (President), Poesy Liang (VP), Jasmine Ng, Surina Shukri (former MDEC CEO), Farah Jaafar, Ivy Fung, Chezka Gonzales, Belinda Lim, and George Wong.

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The WIBA aims to open a new chapter in the development and participation of women in digital technology, with a specific focus on blockchain development, curation of Web3 solutions, and expanding the understanding of distributed ledger technology.

e27 spoke to Jasmine Ng, Co-Founder of the WIBA, Founder of Wahine Capital and the former CRO of iPay88.

Edited Excerpts:

What was the motivation to launch the WIBA? What are the key objectives of the organisation?

There is a “conscious lack” of Asian female talent in the space. We believe there is a lot of misconception about the industry amongst women.

Our vision is to be part of the movement that creates an inclusive new economy with women in Asia as leaders in the blockchain industry and a force for change and social good.

The objective is to raise a generation of Asian female leaders, builders, thought leaders and decision-makers in the space, focusing on talent, skills, education, resource and support. We initiate and deploy this through three pillars — projects, education and skills applications.

Blockchain has a diversity problem and is painfully homogenous. According to a global Quartz survey, of the 378 VCs-backed cryptocurrency startups founded between 2012 and 2018, only 8.5 per cent had a female founder or co-founder. Why so?

Women in technology are already highly under-represented, and the situation is worse in blockchain. We believe this is because women feel the subject matter is too geeky and technical for them.

Many women hold a view that it is a prerequisite to know coding and programming — at the minimum, to be able to script and blog. This misconception is entirely inaccurate and untrue, and we aim to correct and reset it.

Studies show women are more risk-averse than men in behavioural science studies. Is it also a reason for this lack of diversity?

It is a fact that women are generally cautious, which is actually our strength which should be translated and transferred to the blockchain space. The space is so wild west and scammy partly because people are not thinking logically and using proper thought processes in assessing investments.

Do men also play a role in keeping women away from blockchain?

Some men do, but not all.

Indeed, a growing majority of people now realise that diversity and inclusion are a must. At Women In Blockchain Asia, we believe in this, which is why male-allyship is welcomed. The Women in Blockchain Asia has men participating in the founding team. So, while some men may still be misogynistic in their approach, the progressive ones are creating a more inclusive and safe space for greater adoption and acceptance of the technology.

What are the different initiatives taken by WIBA to inspire and encourage more women to come out and embrace blockchain?

1) Enabling through projects: initiating and collaborating on blockchain-related projects where women can participate and work on under the Women In Blockchain Asia.

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2) Educate: partnering with protocols starting with Algorand and local universities to teach smart contract coding to raise a generation of competent developers in Asia and, from there, build and raise a generation of female developers and coders in the blockchain. Through all these activities, encourage more women thought leaders in the space.

3) Enable with skills application: partnering with blockchain protocol providers and solutions and services through an internship, mentoring and support within the industry.

What is the situation outside of Asia, particularly the west? Does it also have a diversity problem?

It is better in comparison, but the struggle is still the same. Recognition and opportunities are not readily available. Women still need to fight for it. Investing in women is still low, yet adoption of the crypto element is rising amongst female participants.

Who are WIBA’s key partner organisations? What are the roles of the Algorand Foundation and others here?

We partner with protocols, universities, enterprises, VCs, blockchain projects and more to create the community and ecosystem around encouraging women’s participation in the blockchain industry.

We have been very fortunate to have universities ready to explore a training partnership with the Women In Blockchain Asia for more diversity in their students’ learning experiences. One of our early partners, the Algorand Foundation, already runs a programme suited for quick deployment and applicability. It fulfils the second and third pillars that we spoke of earlier.

We will start our Educate pillar initiatives with the deployment of this programme that increases the students’ hire-ability rate.

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