As crypto and blockchain innovation continue to break down traditional barriers, could they be major keys to Black economic empowerment?
to researchers from the National Opinion Research Center at the University of Chicago, “the average cryptocurrency trader is under 40 and does not have a college degree . Two-fifths of crypto traders are not white , and 41 percent are women. Over one-third have household incomes under $60,000 annually.”
Lindsey echoed this last point. “In the [U.S.] banking industry, African Americans for many years were not given access to business or home loans despite being just as financially solvent as many of their white counterparts,” while in other instances: Back in the late 1960s, she noted, the Congress of Racial Equality, among others, was agitating at the community level for the idea that laborers could also be owners of a home or a business — i.e., developing a second income and along with some financial security.
“Yes, it is a concern,” commented Lindsey. “It is extremely homogeneous, particularly at the leadership levels.” Tech leaders must be ready to hire managers who are prepared to work with affinity groups of color to develop new talent, and then train talent for those anticipated new roles, he said, further explaining:
Meanwhile, Mesidor’s Women of Color in Blockchain group is pressing to develop not just crypto users but also software and hardware developers, as well as miners and stakers. Communities of color have also been encouraged to create crypto merchant accounts for e-commerce businesses and nonprofits to access a new consumer base. As Mesidor told Cointelegraph:
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