The advances in technology over the last few decades have made human life immeasurably easier. We are reliant on technology like never before, and it is likely that this reliance will only increase as time passes and we come up with even more ways to improve our lives.
However, while the role of technology in human progress is undeniable, there are still some issues in terms of social beliefs and practices in the tech industry. In general, there is a distinct lack of diversity in most tech companies, with straight, white men dominating roles, especially as you go higher up the hierarchy into management positions.
However, this trend is beginning to change with the advent of the blockchain and cryptocurrency ecosystems, which have shown themselves to be much more inclusive and welcoming, especially to LGBTQ+ workers and colleagues.
This is perhaps a reflection of the nature of crypto itself, which is decentralized, and aims to give individuals power, and this is feeding into the way these businesses work as well. There are various LGBTQ+ people working in the crypto space who have publicly stated that their sexual orientation has never been an issue in the industry, and that they have only received support and love.
In the opinion of Joe DiPasquale, CEO of BitBull Capital, which is a crypto and blockchain fund, and one of the founders of StartOut, which is a non-profit organization seeking to empower LGBTQ+ entrepreneurs in the tech industry, this is a result of the impact that crypto has had on people’s outlook and attitudes towards various traditional power structures. It is bringing forward new ways of operation and governance, which is raising questions of existing practices, and this is true in the tech space as well as for wider societal issues.
Cryptocurrencies, in general, have proved to be quite popular for various reasons already, and it is already gaining a lot of influence in the world. Already millions of people have begun using crypto for various purposes, whether as an investment option or even as an alternative to regular, fiat currency. Given that cryptocurrencies could one day replace traditional forms of money, it is important that the industry and structures support as many people as possible, which is a big reason for their openness towards the LGBTQ+ community. We are already seeing the effects of this popularity elsewhere, with online casinos, for example, beginning to offer customers crypto roulette, where they can place bets using cryptocurrencies.
Other popular table games such as poker and blackjack have also seen the same application, and they have all been extremely popular, showing how cryptocurrencies can change traditional industries and make them better.
Thus, we are seeing how crypto is empowering people who were perhaps not being heard earlier, and one way in which it is doing so is by creating a level playing field, rather than providing advantages to any particular group. This alone is a huge difference to many sectors where various communities suffer due to discrimination. At the same time, blockchain is also helping real change take place, by being applied in various projects which aim to increase voter turnout and enable more people to vote.
Crypto is also helping improve the financial security of LGBTQ+ individuals, whose financial outlook in general is a lot worse than that of their heterosexual and cisgender peers. Using decentralized finance (DeFi) will allow people to earn higher interest on their funds than that offered by banks, for example, which is just one way in which the crypto sector is helping to improve the lives of the LGBTQ+ community.
