The technological landscape is ever-evolving, and Web3, the next generation of the internet, is only now beginning to take shape. Web3 technologies such as blockchain and decentralised protocols portend more fair, secure, and user-centric digital ecosystems. Given how these revolutionary technologies will shape the future, women must actively participate in leading the decentralised revolution.
What is Web 3?
The decentralized web, commonly referred to as Web 3.0 or the third generation of the internet, is a development of the existing web (Web 2.0) with the aim of establishing a more user-centric, secure, and decentralized digital ecosystem. Greater user control over data, privacy, and digital assets is made possible through the use of decentralized protocols, blockchain technology, and cryptographic techniques.
Features of web 3
1. Decentralisation: Web3 distributes control and decision-making among a network of peers in an effort to reduce dependency on centralised entities (such as large tech businesses).
2. Blockchain technology and cryptographic techniques enable systems that do not require trust, allowing for transactions and interactions without depending on a single entity.
3. User Sovereignty: Web3 promotes a more equitable and privacy-focused online environment by strongly emphasising giving individuals ownership over their data, digital identities, and assets.
Benefits of women adopting web 3.0
The following are the benefits of women in Web 3. They are as follows;
1. Financial Inclusion: It is a truth that in many developing countries, women still face significant barriers to financial services access. With the development of blockchain technology, women can now easily access financial services. Blockchain technology encourages financial inclusion by providing a secure, decentralised platform for financial transactions. Women can now save money, apply for loans, and make payments without going to traditional financial institutions because to blockchain technology.
2. Logistics network Transparency: Blockchain technology enables transparency in the supply chain. But this particularly benefits women employed in the agricultural industry and other economic sectors. If women use blockchain-powered platforms, they can be sure that their products are being sold equitably.
3. Identify Verification: However, it is a fact that many women in poor nations still lack official identification cards. Therefore, it makes it challenging for women to use services and take part in strengthening the economy. They may quickly access a safe and decentralized method for identity verification thanks to the development of blockchain technology.
Access to Global markets:It gives women more power by offering a decentralized, secure platform for international trade. Additionally, the website allows women to market their goods and services to clients all around the world. They will be able to earn more money as a result, which will boost their financial situation. Thus, identity verification, supply chain transparency, and access to international markets are all made possible for women thanks to blockchain technology. Therefore, women in poor nations can get past numerous obstacles they have encountered for a long time by utilizing the power of blockchain technology.
Challenges for women in Web 3
Despite the benefits involved there exist some downsides accrued to women’s participation in web 3, They include:
1. gender parity. The lack of gender diversity within the industry is a pressing issue that requires attention. Diversity yields better results, yet the inclusion of any group might stifle innovation and growth. The promotion of an inclusive culture that promotes and helps women looking for work in the Web3 industry is essential.
2. Preconceptions about gender: It is sometimes believed that the crypto industry is dominated by men and that there is a strong “bro culture” within it that rejects those who aren’t “pale and male.” Women’s participation in the environment is unfortunately often discouraged by this bias.
3. Lack of representation: Only 13% of Web3 startups have a female founder. Merely 3% of enterprises in that category have female founders, while 10% of founder teams consist of both men and women.Opportunities for women in Web 3
Women have the chance to lead the decentralised revolution as it takes shape, fostering innovation, inclusivity, and growth in this new digital era. Women can take the initiative in the following ways:
1.Develop and contribute to Web3 technologies: Women may have a direct impact on the creation and uptake of these revolutionary tools by learning about and working on blockchain, smart contracts, decentralized applications (dApps), and other Web3 technologies.
2.Promote diversity and inclusion: A diverse and inclusive workplace is crucial for fostering innovation and guaranteeing equal access to the advantages of Web3. By starting and fostering organizations, networks, and initiatives that place a priority on these ideals, women can encourage diversity and inclusion in the decentralized ecosystem.
3.Explore careers in decentralized industries: As Web3 transforms areas like finance, education, and supply chain management, women can take advantage of openings to work in these developing fields and contribute to their expansion.
4.Women can form innovative enterprises and develop new business models that take advantage of the advantages of decentralization by utilizing Web3 technology for entrepreneurship and innovation.
5.Education and advocacy: Women can serve as Web3 educators and advocates by imparting their knowledge and experience to others in order to encourage a general acceptance of these game-changing technologies.
In conclusion, women have a special potential to be at the forefront of technological and societal change as a result of the shift to Web 3. Women may take the lead in establishing a more decentralized, just, and creative digital future by embracing this new era. To build a more dynamic, creative, and prosperous sector, gender diversity and inclusivity must be promoted in the Web3 arena. The ecosystem may contribute to making Web3 a welcoming and accessible place by taking deliberate initiatives to address the particular issues faced by women in the field.