Ripple managing director Sendi Young has called for diversity in the crypto industry, citing the Crypto Bros culture as a roadblock to inclusion.
The persistence of the “Crypto Bros” caricature in the field suggests that diversification is still a long way off.
Young made this statement at the Financial Times-hosted Crypto and Digital Assets Summit.
For people from non-tech or finance areas to have a role in the cryptocurrency market, the Ripple MD thinks the sector needs to diversify.
Approaches To Boost Diversity and Inclusion in Crypto
Sendi Young wants to dispel the myth around the Crypto Bros in her message. Young claims that the lack of diversity in the crypto industry is caused by people coming from the tech, finance, or related industries.
As a result, Ripple is looking into ways to promote diversity and boost the company’s representation of other industries.
Young concurs that altering the current situation would be difficult.
The director acknowledged there are various approaches to support diverse industrial inclusion in crypto and that there is no single, foolproof way to solve the problem.
She made the argument that businesses may use the varied slate strategy for hiring.
This will guarantee that every role has representation from at least two underrepresented groups.
Businesses can hire talent from a variety of groups thanks to the Diverse Slate method.
Crypto’s Libertarian Roots Pose Challenges To Institutional Adoption
Young also discussed the institutional barriers to the institutional adoption of cryptocurrency in addition to the diversity issue.
She mentioned the libertarian nature of cryptocurrencies as a barrier to institutional adoption.
However, she noted that the crypto space has shifted from the original libertarian status quo, but the maximalist groups remain.
She came to the conclusion that although crypto has moved away from its roots, there is now more harmony among the various schools of thought.
