Leveraging Blockchain Technology As A Medium To Mitigate Gender Inequality
Global Tech Outlook explores how blockchain technology can bridge gender inequality
It is a well-known fact that blockchain technology has helped the cryptocurrency market to get popular owing to its utmost security, lowest transaction fee as well as millions of seamless transactions with detailed records. This is the common case for the financial sector across the world. But, many other industries have started implementing blockchain for other activities like the education sector. Similarly,blockchain in gender inequality can be mitigated across the world as a powerful medium. Companies can mitigate gender inequality with block chain apart from utilizing it for financial services. Let’s explore more on how blockchain technology can act as a medium to mitigate gender inequality.
Leveraging blockchain technology can be utilized to mitigate gender inequality and promote gender equality efficiently and effectively. Blockchain has started offering financial support to women who were excluded from the financial institutions in many parts of the world. They are deprived from the traditional systems of credit and wealth accumulation due to the patriarchal beliefs for a long time. Block chain is thriving in the world because it has the power to transform the world into a better place. Blockchain technology can empower the most financially marginalized section of global society, women. It helps women to feel gender equality and mitigate gender inequality to be financially independent with some financial education. Traditionally, women need to keep their savings with them or travel a long way to store the amount. Blockchain acts as a medium to mitigate gender inequality by improving a wide range of financial services to women, supporting women throughout the year, and promoting the women autonomy in the 21st century.
Blockchain and cryptocurrencies can hold the potential to empower women— the United Nations has shown that the world can solve gender issues with block chain. This technology can allow the implementation of social compliance in all organizations to mitigate gender inequality and empower gender equality. The existing gender biases can be exposed for the transparency feature of blockchain technology. Thus, these social compliances can be identified and verified to bridge the gender gap in multiple workforces. Organizations should focus on eradicating gender inequality besides focusing on digital transformation in the 21st century.
Gender inequality with blockchain can be eradicated to promote women in technology with equal pay and equal status as per the male counterparts. Block chain cannot solve all the problems that have been there for ages, but we can start adopting this cutting-edge technology to promote women in all different sectors in this tech-driven culture. The advent of the internet and cutting-edge technologies like blockchain technology has empowered women to address and mitigate gender inequality to make their voice heard in the global society. Blockchain is thriving in the market because it does not promote gender gap or gender discrimination— provides equal opportunities to every gender without any censor from any authority.
Leveraging blockchain in gender inequality can help to promote rural women who have a very less access to any financial institution and cannot create any savings account for personal purposes. Blockchain technology helps multiple domestic violence victims to leave their abusive husbands and be financially independent for a stable life.