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itBit, a Bitcoin exchange, looks to be gunning to go mainstream with an application for a New York trust charter and a lineup of prominent Washington backers including former FDIC head Sheila Bair.
April 24 -
The world needs a financial system that moves money with real-time transparency while upholding the highest level of security and privacy. Digital currency and mobile money services can help get us there.
April 15 -
Rand Paul, the Kentucky senator and Republican presidential candidate, told supporters and Bitcoin enthusiasts that policymakers should foster the development of new payments technologies like they did with the Internet.
April 21 -
In the same way that Napster and peer-to-peer file sharing changed the face of the recording industry, blockchain technology will force banks to reconsider their traditional roles.
April 20 -
Is misogynistic behavior keeping women out of the Bitcoin community?
June 25
Felix Salmon, acclaimed journalist and notorious Bitcoin skeptic, made waves in the digital currency community this week by turning a review of Nathaniel Popper's forthcoming book, "
In his post, "
Following Salmon's cue, Business Insider's Shane Ferro posted a curt commentary entitled the "
The fallacy of these two pieces is the rush to conclusion. Using scant and shallow evidence of women's participation in the digital currency industry to foreshadow Bitcoin's demise is not only erroneous, but also impertinent. Though the total number of women in Bitcoin may in fact be small, the collective impact of their achievements is unmistakably great.
It's true that men far outnumber women in Bitcoin (as is the case in
Last month, the
Highlights from their fellow essayists included:
"We believe cryptocurrencies are an amazing and empowering tool for people living in societies who are unbanked and can be used to make women and girls financially independent."
Fereshteh Forough of Code to Inspire, a nonprofit that educates Afghan girls to write software (an organization Salmon might know of if he read a book that's been out since January, "The Age of Cryptocurrency " by Paul Vigna and Michael Casey).
"Bitcoin empowers. Imagine if you were told, 'sorry, but because you're a woman, you cannot open a bank account.' With Bitcoin, a woman can simply receive and spend funds, and connect with individuals around the world."
Elizabeth Ploshay of BitPay.
"Bitcoin doesn't care about your socioeconomic status, ethnicity, culture, age or gender. It only cares that you are willing to learn and do good work."
Jinyoung Lee Englund, formerly of the Bitcoin Foundation.
Ferro is right that the industry's success will demand equal participation from both sexes. Salmon's more nuanced argument about the pitfalls of focusing on technology alone without thinking through how it will actually fit into real people's lives, however, is a lesson for all entrepreneurs, men and women alike. There are no gender (dis)advantages to understanding customers or local market conditions.
Before leaping to conclusions based on percentages and raw figures, it's prudent to look more closely at the real people behind those numbers. Confusing quantity for quality leads the reader astray, and discounts the tremendous value added by bitcoin's women to this rapidly growing industry.
Sarah Martin is the vice president of the