In its early days, crypto faced significant skepticism, attracting only a small, curious audience. However, after years of relentless innovation and growth, the blockchain space has evolved into a widely embraced technology, gaining acceptance from individuals, institutions, and even governments worldwide.

Despite the massive growths and record-breaking price surges, the community has complained that it still feels like male-dominated. Back in 2021, a study found out that less than 5% of crypto entrepreneurs are women. Why is there a massive difference? What steps should be taken to make women feel more supported and grow in this developing sector?

Katie Penn, the esteemed former Global Head of Marketing for X, shares her invaluable insights with The Byteline, shedding light on how women can successfully navigate and thrive in the ever-evolving crypto and tech industries.

From your experience in global marketing, what unique strengths do you think women bring to content creation, particularly in fast-evolving fields like tech and crypto?

Yeah, I would say the number one thing is emotional intelligence and community building, right? Women often excel in building communities. 

The parties you go to, the experiences you have growing up, and trust — that's so vital for success in this industry. And especially as the industry is really involved with authenticity, that ability to connect with people and understand them is something that women have a high EQ for, and they do very well.

What advice would you give to women looking to make an impact in the tech sector, especially those interested in breaking into new fields like crypto?

I would say focus on building a solid foundation of the fundamentals, but you don't need to wait to be an expert to dive in. Working with women for the last 10 years, they say that men quite often will be overconfident in their skills and expertise, whereas women wait until they are 100% an expert before they try to do something. 

In a space that's moving so quickly, like crypto, just jump in. Get the fundamentals, but then just go. Don't let that need to be perfect hold you back.

I think one of the misconceptions is that you have to be deeply technical. I have been in this industry for over a decade, and the value of storytelling is more important than people realize. Community building, empathy, and women bring a lot of that to the space.

So, I mean, I know that it sounds like I have an allegiance because I worked at Twitter X for a total of seven years, but they know that 54% of the conversations around crypto are happening on that platform. 

So you have to go where the conversations are happening to really understand the latest and the greatest. But I think that you can also find your communities on platforms you're the most comfortable with.

It's not like if you don't like X, you can't start. You can find Telegram or YouTube conversations. Go to a platform that you love spending time on, but also maybe check out the places where people are talking about crypto.

The tech and crypto industries are known for being male-dominated. What steps can companies take to create a more inclusive environment that supports women in these spaces?

Well, first, companies should be actively promoting and hiring women to leadership roles. They should be investing in mentorship, and that doesn't have to be woman-to-woman, but they need to mentor and grow the women in their companies instead of constantly bringing in outside talent that's male-dominated. They can also sponsor programs that support women. A lot of companies are doing great at that and helping women.

Often, I can be the only woman in the room when I'm working. Helping women leaders find communities and networks outside their companies that support women would be really powerful. There's probably a huge opportunity to create women-focused communities in the crypto space and engage in those to get support, as women are often quite supportive of each other.

For instance, Chief is a women's leadership club. It is an application-based club, but I wanted to find peers and like-minded individuals. I love it because the members are women from all industries, yet we all face very similar challenges. When you reach the C-level or a leadership level, you can often feel isolated in a boardroom or among other C-level executives if you're the only woman.

This membership club is for women at the VP level and above, where we have real conversations and build genuine networks. We host notable speakers and have office spaces exclusively for women, where we can enjoy coffee and connect.

Are there any specific policies or initiatives you have seen that have been particularly effective when it comes to promoting women in the tech industry?

Yeah, I think there’s been a lot of effectiveness around hiring. Having blind interviewing and hiring processes has proven to be much more effective. This means that people don’t know the gender of the applicants when reviewing applications.

I also think mentorship within companies, especially women mentoring women, has been highly effective. It allows individuals to shadow women who have figured out how to achieve promotions and leadership roles. Additionally, it’s about lifting women up wherever you go—continuing to see women not as competition but as peers and supporting each other.