Black women represent less than 0.01-percent of blockchain developers. “A very small percentage of women globally are blockchain developers,” stated Olayinka Odeniran, Founder and Chairwoman of Black Women Blockchain Council. “However, Black women want to become creators of technology, not just consumers of it.”
When it comes to cryptocurrency, 44-percent of crypto investors are people of colour and 41-percent of those are women. But, Black women make up just 4-percent of crypto investors. Black women are exceedingly underrepresented in blockchain.
Olayinka was introduced to Bitcoin in 2015 whilst working as a Chief Compliance Officer at a financial firm. Skeptical about cryptocurrencies, she was transfixed by the technology behind cryptocurrency. “I felt that as a woman in the Black community, blockchain was something that could definitely help us,” she said. “Historically, there have been demographic restrictions for black women to benefit from certain aspects of finance. With blockchain and web3, we can get access, and the barriers to entry are eliminated. We can participate on an even keel.”
Olayinka is a highly-respected compliance and risk management expert with over 16 years of experience helping firms navigate through international regulations. She holds a M.S. in Cybersecurity Management and Policy, which helps provide information assurance in the blockchain landscape. Prior, she worked as Chief Compliance Officer for investment firms. She left her role as a CCO in 2019 to start a cybersecurity enterprise, CYBSECWATCH, which provides compliance, infosec educational tools and cybersecurity consulting.
Diving deeper into the blockchain space, she decided to take matters into her hands to shape the future for black women in blockchain. She created the Black Women Blockchain Council (BWBC) in 2018. Her motivation was straightforward: “I started to look around, and I was seeing only a handful of people that look like me. So, I started seeking out other black women in this space.”
BWBC is a global benefit LLC community-driven social conscious organization that provides blockchain, STEM education and consulting. It builds a path for the entire African diaspora, especially black women, to become involved in creating the future in blockchain and fintech.
BWBC’s mission is to create a safe space that inspires, trains and activates a talent and financial pipeline of black women pursuing professional and entrepreneurial careers in blockchain and fintech. This includes educating the next generation (K-12 and College/ University) of diverse and inclusive blockchain leaders.
Adding massive momentum to its ambitions, ConsenSys partnered with BWBC in 2021 to launch an online program to train half a million black women globally to become blockchain developers by 2030.
“I’m excited about having more black women become builders in this space. I am excited about projects that benefit the African diaspora. I would love to see a blockchain protocol and Metaverse created by black women,” said Olayinka. “I am inspired by my daughter. I want her to have a future that she can feel comfortable in, because she sees herself in so many of the pioneers and leaders in this space. The best legacy for me is to be known as the woman who created pathways for so many black women to shine in web3, blockchain and the Metaverse.”
Web3 is still in the build stage and continues to evolve. But in just a few years we have experienced a lot. The popularity of NFTs did much to introduce women to the space. The black community reportedly grew to 40-percent in 2021, and according to a recent Chain analysis 2021 study, the top ten countries participating in crypto transactions include several African countries.
Remarked Olayinka: “I’d like to believe that it’s due to the work BWBC and many others are doing in the community to educate and spread the word. One thing is for sure: with less than 5% of the global population aware of blockchain, we still have more work to do.”
She describes the Metaverse as a “Utopia: a place where we have interoperability, inclusion, diversity, and freedom from real-world issues. The Metaverse will allow people to experience things they’ve never experienced, like traveling through the sub-Saharan desert or taking roller-coaster rides. Or, some who have physical limitations can experience things they can’t do in real life. The Metaverse can also be a conduit for breakthrough technology. We already know that the medical industry uses VR and AR to develop or improve medical procedures. More improvements to medicine and healthcare will come of this.”
This visionary believes the opportunities in this space are limitless. Creativity fuels this space: black women are joining in numbers to take advantage of the opportunity. The biggest stumbling block to mass adoption remains a lack of education. Olayinka and the BWBC’s outstanding work provides a solid foundation for realizing ambitions for black women to maximize their potential in this space.
To this end, Olayinka established and currently chairs the Black Women in Blockchain Foundation. This 501 (c) 3 organization seeks to enhance inclusion and representation in blockchain through training, mentoring, networking, visibility programs, and access to capital. Its initiatives directly contribute to five of the United Nations’ Sustainable Development Goals (SDGs): gender equality, education, entrepreneurship, innovation, and social inclusion.
This non-profit organization leads four programs: Blockchain Education Program, Wealth Inclusion Program, Scholarships and BWB Incubator. These programs aim to accelerate black women’s empowerment in blockchain and establish platforms and opportunities for wealth creation.
Olayinka champions involvement, “Join a community; don’t feel like you have to navigate this space alone. There are several communities out there, like BWBC. We have a membership site (https://www.community. bwbc.io) that provides people with education, certifications and many opportunities to find their path in blockchain, Metaverse or web3. BWBC has partnered with Everyrealm (https://everyrealm.com/), which provides Metaverse education. Our members get free access to their academy, where they can take a month-long certified Metaverse course. For kids, there is Crypto Kids Camp (https://www. cryptokidscamp.org/).
Blockchain, Metaverse and web3 present opportunities for many, especially black women. The future is paved with women building this ecosystem.
Website: bwbc.io
