Blockchain welcomes all, but general Tech industry lacks in diversity
For the new technologies, people in this era, act with an open mind. Among the latest technologies, the blockchain is the most notable. The blockchain is a technology where the users can have access to a block of information. The moderator can have the right to change the information, but the old information also remains in the chain. However, some social issues also affect the use of this technology in different areas. The issue of racism is creeping into the blockchain sector as many stakeholders in the industry feel that this space is becoming more diverse racially. The technology is now fast spreading across the world, and many countries are now looking at blockchain technology for their economic prosperity. The global economic system is monopolized, and it is now time to change that into a decentralized system.
Discrimination in silicon valley
As the United States boils over the Black Lives Matter issue, many voices are heard about racial discrimination even in the silicon valley. Many tech companies, along with crypto companies, voiced their support for the Black Lives Matter campaign. It is interesting to note at this point that racism issues had rocked even big companies like Google, Facebook, and Amazon earlier. According to data published by silicon valley companies about their workforce demographics, nothing much has changed to promote diversity, and the situation still remains the same. Hence the data of the users remain safe on the platform, and one can store it without any hassle. There are ample areas where this technology can be used.
Technology is also biased
In what comes as a surprise to many people, even technological innovations are biased as they are programmed to behave in that manner. It was reported recently that some automatic soap dispensers were not able to detect darker skin tones. This appears to be deliberately done, and it is not acceptable in this technological age. You will be surprised to know that even speech recognition technology is not neutral as it cannot process certain accents that are common to minority groups.
How diverse is the crypto and blockchain industry?
As the crypto industry is hand in glove with the technology industry, similar behavior is seen even in this world. However, it is slightly better as this is more open to various communities across the world. Even in this case, the leadership positions are mostly held by majority stakeholders. In this regard, if the crypto industry has to change for the better, the seeds have to be sown in the tech industry.
However, there is hope in the crypto sector as it is more diverse in terms of user base when compared to other sectors. In a recent study, it was found that crypto trading had a significant base of women traders, which is not the case with traditional financial instruments. The decentralized logic of blockchains provides equal rights to all people irrespective of their race and origin.
Hurdles ahead for diversity
The biggest hurdle for diversity comes with the mindset of the majority of stakeholders. Most people in the tech industry still believe that black workers are not that qualified compared to people of other races. This cultural attribute has to change, and it will lead to significant development in the technology sector. As blockchains are making serious inroads into the African market, it is high time that the tech sector took serious note of this issue. In the near future, you may see a wide market for cryptocurrencies and blockchain technology in the African continent. This diversity has to be included at the beginning of the technology.