The problem The Phoenix Guild solves

2018 LONGHASH statistics state that on an average, there are less than 10% women in the blockchain space and though we are in the year 2022, these statistics don’t seem to have changed much. The lack of female developers is an aspect restricting the diversity of Web3 companies. In 2021, males made up 91.7% of the programming workforce, just over 5% were females, and 2% were non-binary. This poses a significant barrier to creating diverse teams.

There is a much higher percentage of males working high up in the top 30 cryptocurrency companies than females. In fact, 78.4% of the most important people are male on average, compared to just 21.6% being female.

The web3 world is just beginning to make sense to the larger audience. By bringing in more diversity, you are catering to a large number of folks who can potentially be onboarded to the web3 world.

According to a recent survey, 22% of men said they used cryptocurrencies compared to just 10% of females. Changing these numbers can lead to increased profitability, innovation and ROE for web3 companies.

Challenges I ran into

Funding is a huge challenge for diversity related initiaves in the crypto ecosystem.