How financial inclusion benefits all
While the current financial system may be moving more slowly than women would like, Coinbase research points to general optimism around technology and its role in shaping the future of finance; 93 percent of college-educated women believe tech will impact finance in the next 10 years. And 39 percent of millennial women say their interest in crypto would be greater if they knew it could make finance more accessible to all genders.
Research shows that changes brought about by financial inclusion benefit everyone by boosting the general output of the global economy. A recent report by BNY Mellon and the UN Foundation, Powering Potential, found that achieving equality in women’s access to financial products and services could unlock $330 billion in global annual revenue. “Countries that place additional restrictions on the economic rights of women forgo the benefits that would be gained by allowing women to choose for themselves whether, and how, they would like to participate in the formal economy,” notes the 2017 edition of Cato Institute’s Economic Freedom of the World report. “Financial independence and economic empowerment is key to greater gender equality.”
As Amhaz notes, “If you are only tapping into half of your population’s talent, ideas, and productivity, you’re only going to go so far. And empowering that other half and really tapping into that pool of creators and makers and shakers is going to just take us forward. That will be the competitive advantage for countries that want to continue in our globalized economy.”
Olivia Wang encourages all of the women in her life to educate themselves about crypto technology and what it enables. “We live in a world where business transactions happen all the time, and blockchain and crypto will facilitate kind of the next wave of commerce. Having a group that are mothers, leaders, sisters, wives — it’s half the world. I tell people that the most important thing is to educate yourself, to think independently, to read, to speak to people, and to develop your worldview. Through that worldview, I hope that women and the whole global community can come closer to the understanding that Bitcoin could be a great instrument to further this vision.”
Methodology: To assess women’s sentiments about inclusion and the financial system, Coinbase commissioned a study conducted by Qriously of 6,036 people ages 18+ in the US and UK between January 18–21st 2019. The survey asked questions about their thoughts on money, technology, and the financial system.
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