“Though the mechanisms of digital currencies are hardly more complex than the implementation details of a bank, the challenges of obtaining, securing, and managing them has so far limited the product to a predominantly technology-savvy audience.”
A predominantly male audience. Overwhelmingly male in fact. The whole crypto space feels a bit like a boys’ locker room — a space in which women are not even considered. This is a tremendous shortcoming. No consumer technology has ever become mainstream unless and until women take part. Unfortunately, women in crypto are as rare as hen’s teeth. Almost every ICO press picture features a group of young men. I have yet to read a comment on the Reddit or Medium groups by a woman. The apps and software needed to take part in crypto have clearly never been run past a focus group of women, even the Ethereum and Bitcoin offerings. In short, an essential component of any viable business strategy in the technology space is not even being thought about, never mind catered to.
Getting women involved is not just some socially right-on thing to do (I suspect most women would rather be ignored than condescended to — I know I would). As experience and research have demonstrated, women are good for business. They tend to be more cautious about adopting new technology, so when they do jump in, that is a powerful sign to institutional investors — also a cautious bunch — that the risk levels are acceptable. Getting women involved is also good for a company’s products — it makes them better. Women are much less prepared to work with complicated, clunky apps that require lots of cutting and pasting and suchlike — they simply don’t have the time, most of them.
If we want consumer Blockchain tech to reach mass adoption, it must appeal to women. Right now it does not. Ponder that.