Indian women are shattering stereotypes and the glass ceiling in the rapidly changing tech landscape, with the field of blockchain technology being no different. We bring to you leading women tech leaders and entrepreneurs who are actively influencing the future of blockchain, both in India and globally.
First delving into the leading women professionals that are ruling the Blockchain industry, let us know what is Blockchain and its key aspects in the Indian economy.
What is Blockchain?
The legend of Satoshi Nakamoto remains unsolved, but his invention of Bitcoin and blockchain has gained massive traction over the past few years. Blockchain is a decentralized, distributed ledger that operates without a central authority, relying on a network of computers. It maintains immutable records of transactions, ensuring trust and transparency.
Blockchain uses cryptographic techniques for data security, including proof of work or stake. Blockchain technology, particularly Bitcoin and Ethereum, enables direct peer-to-peer transactions without intermediaries. It transforms supply chains by providing a traceable record of goods that prevents fraud and enhances work efficiency. Blockchain also makes smart contracts or self-executing agreements where predefined data works automatically if the conditions are met to make the work easier.
It is being increasingly used at hospitals to secure patients' data, maintaining confidentiality. It also revolutionizes voting systems by creating transparent, non-tampered votes that prevent fraud and provide accurate results.
Harnessing Indian Workforce Landscape
Blockchain technology has been receiving widespread interest in India. The technology offers enhanced security, transparency, immutability, efficiency, cost reduction, and decentralization. It has become an essential part of the Indian workforce landscape, with a massive push from the Indian government as well. It has been widely adopted in the banking, financial services, and insurance sectors for secure transactions of huge amounts. It is also used in land title registries, vehicle lifecycle management, crop insurance, and health records with privacy.
Women's Role in Blockchain
Indian women leaders have been actively participating in the blockchain ecosystem. They contribute to diversified areas such as decentralized finance projects, policy formulation, education, healthcare, and research. However, in 2020, the margin for funding women-led startups in blockchain remained a challenge with 9 per cent of the total where initiatives to promote inclusivity and diversity played an essential role. In 2020, women in blockchain technology grew from 8 per cent to 12 per cent in two years whereas a report by Cointelegraph mentioned a significant rise in female users on top crypto exchanges from 22 per cent to 160 per cent. At present, a report by eToro shows 37 per cent of 420 million global crypto holders are women with India leading with 93 million investors, and overall, Asia has 263 million active users.
Women Entrepreneurs Review lists 5 exceptional female leaders who have established significant Blockchain companies changing the Indian technological landscape.
