Women Are The Future For Bitcoin In India
Jun 28, 2018
Within the patriarchal industry that is blockchain, we do often see news reports that put extra attention into mediatising how women are actually leading the blockchain revolution. This latest one is even more important since it is referring to women in India specifically.
India is a country that is currently on the fence about cryptocurrencies. The Reserve Bank of India are trying to implement an outright ban and the government really don’t know what to think. As a society and a community, the people of India are of course very bullish about blockchain technologies and as a matter of fact, India’s education system are also paying close attention in ensuring that blockchain technology is a part of their education programme.
So, as you may be able to tell, there’s an imbalance between what the authorities want, and what the people want. Although, I guess that is the case with most things isn’t it!
According to a report by Quartz (India), BuyUCoin, an India based cryptocurrency exchange between March and June this year, women had on average invested double the amount of their male counterparts in cryptocurrencies. According to Quartz:
“BuyUcoin, an Indian cryptocurrency exchange, has found that female Indian investors, on average, invested over Rs1.4 lakh (around $2,000) on digital currencies—twice the amount that men typically spent. The survey, conducted between March and June, had over 60,000 respondents.”
Moreover, according to the CEO of BuyUCoin, Shivam Thakral:
“Usually, woman investors who are buying or trading are over 40 years of age. Therefore, typically these mature investors are able to put in more money. On the other hand, more men start investing at an early age with the average age for this investor group being 30.”
See more for yourself, here- https://qz.com/1316595/indian-women-invest-twice-as-much-in-bitcoin-and-cryptocurrencies-than-men/
The report does go on to highlight that of the 60,000 participants surveyed, the vast majority of them are men, however even so, women are still investing twice as much. Why might this be the case? There is a chance that simply, the women surveyed are earning more than men, or, alternatively, perhaps culturally, Indian women are more likely to engage in risk taking behaviour? I’m not so sure, in fact, there’s no real way to tell without actually running an ethnography or a large scale psychological study.
The take home message from this however is that even in a male dominated industry, it seems that women are coming up on top again. The blockchain revolution is not gender specific and therefore, there’s as much room here for women as there is for men. Women and men alike can and will benefit from this, it looks like India have already worked that out though!
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