KBW Women in Tech 2023
Empowering Women in the Tech Frontier: Highlights from KBW Women in Tech 2023
Why WIT?
In the realm of Web3 innovation, where groundbreaking metaverse experiences, blockchain technologies, and cryptocurrencies are reshaping the digital landscape, there exists an undeniable paradox. While these pioneering companies are redefining the future, they grapple with a persistent challenge from the past: the striking underrepresentation of women in leadership roles ranging from founding startups to driving investment decisions.
Women are nearly half of the U.S workforce, but only make up 27% of STEM. A mere 17% of tech companies have female CEOs.
When it comes to Web3, while women continue to be active participants, there's a notable lack in terms of those actively building in this transformative space. A recent study conducted by Boston Consulting Group (BCG) and People of Crypto Lab reveals that just 13% of Web3 startups include a female founder. Within the top Web3 startups, women account for a relatively higher portion of the workforce, standing at around 27%. However, their representation tends to be concentrated in non-technical functions, predominantly in areas like HR and marketing.
Women in Tech (WIT) at Korea Blockchain Week 2023, proudly hosted by Hashed and sponsored by zkSync, with community partner KryptoSeoul - is driven by a simple yet powerful "why" - it’s more than just an discussion; it's a dedicated effort to address these frequently overlooked issues, offering women the chance to connect with accomplished peers, network, and gain valuable career insights. Moderated by Medha Srivastava, the General Counsel at Hashed, our panel at Women in Tech brought together seven accomplished women representing a diverse spectrum of roles within the tech industry - from tech-founders and community builders to investors in the tech space and technology lawyers. They stand as real-time examples of resilience and success, overcoming barriers that persist in the field while highlighting the importance of full participation to ensure the tech industry's continued progress.
Meet the Panelists
Erica Kang
Starting with our first panelist, Erica Kang, Founder and Community Builder at KryptoSeoul, we dived into crucial questions about women's participation in the context of emerging technologies. Erica's insights hit close to home as she shared her journey as a mother of two and a full-time mom, while also being a founder and a community builder in the Web3 space.
“For women to separate their personal lives, such as the role of a mother, and work simultaneously as founders in Web3 is a testament to the numerous roles we can play in the industry. Web3 offers women the flexibility to shape their careers in novel ways, enabling us to manage our family roles while actively participating in the space and contributing to its development.”
As a Community Builder, Erica also spoke about why diversity matters within a community and its significance - she pointed out that the very nature of crypto creates room for both agreement and disagreement, ultimately promoting diversity and a neutral playing field. This concept of levelling the playing field is reflected in KryptoSeoul’s approach to being platform-agnostic and contributing to the growth of diverse protocols while fostering an inclusive environment. Erica also spoke about her commitment to mentoring young women in the space and drawing from her own journey to provide invaluable advice to college students and helping them build their own personal brands.
Chi Zhang
Chi Zhang, the accomplished Co-founder and CEO of ZettaBlock, shared insights into her journey as a female founder and her perspective on the transition from Web2 to Web3. She emphasized the appeal of Web3, highlighting its abundant public data and support for building innovative solutions. She also discussed the importance of mentorship in order to promote gender diversity in the the industry - the significance of having mentors, including male mentors, who do not discriminate based on age, race, or gender.
"Like my coach used to tell me during my athletic days, 'Never fixate on the blockers; keep your gaze on the ultimate goal. Discrimination may exist in many forms, such as ethnicity or age-related biases, like being called 'too young.' For instance, my company Zettablock, one of the youngest players in the Web3 infrastructure space, faced skepticism from investors due to my age. Yet, amidst these biases, the key is to focus on your strengths, seek guidance, and relentlessly pursue your ambitions.”
She shared her observations of being frequently the only female presence at tech-preneur tables, which spurred her to question why there weren't more female founders in the space. Chi also highlighted the common struggles women in the industry face, frequently encountering assumptions of inexperience or junior status, a sentiment she found resonated among her female peers. Her takeaway was that providing women with the guidance and mentorship needed to overcome the challenges they might encounter is crucial to the development of the space.
Ciara Sun
Ciara Sun, the accomplished Founder of C2 Ventures and a prominent figure in the crypto industry, started her journey from the realms of traditional finance to the forefront of the crypto and blockchain space. She spoke about her transition from TradFi in 2017 to crypto and eventually founding C2 Ventures, a fund focused on investments in early-stage web3 projects, which successfully raised $100 million last year. Ciara also founded Women Who Crypto (WWC) in 2019, an NGO dedicated to empowering female leadership within the crypto and blockchain domain
“Women Who Crypto” is an NGO dedicated to supporting and promoting female leadership within the crypto and blockchain space. We invest in promising female founders, help them build their brands and products, and actively work to attract more talent into web3. We collaborate with universities and engage interns, offering coaching and education programs like 'Blockchain 101' and 'Web3 101,' helping young women navigate and excel in the blockchain landscape. Importantly, we embrace support from men who share our vision."
She also shared insights into her being given the title as a "Female Asian Global Crypto Leader," by her Twitter followers. Ciara's relatability has allowed her to connect with a broader audience seeking guidance on trading and investments. She leverages her platform to attract more diverse talent into the industry and collaborate with industry leaders, recognizing the importance of tapping into the vast talent pool that exists.
Clarisse Hagège
Clarisse Hagège, the CEO of Dfns, reflected on her diverse career spanning finance, humanities and eventually technology which has uniquely shaped her perspective and capabilities. Clarisse emphasized the importance of education and the power of decision-making in her journey, regardless of gender stereotypes.
"My mother always told me, 'Nothing is impossible. So, you’re a woman. So what? You can do whatever you put your mind to.' She made me aware of the gender gap that existed in top engineering schools, where it was always ‘95% men, 5% women’, encouraging me to help bridge this gap."
Clarisse delved into the subtle yet pervasive discrimination that often lurks in social dynamics. She recounted the common experience of feeling excluded from bonding with her male colleagues who preferred to stay in the company of other men. She pointed out the need for doing away with gender roles and inequalities, stressing the importance of the creation of women's networks and mentorship programs as vehicles for change. To her, the journey may be challenging due to gender biases, but it's these trials that make the path worthwhile.
Leslie Lamb
Leslie Lamb, the CEO of OPNX, discussed the importance of fostering better network and communication among women. Drawing from her own experience, she spoke about OPNX, a company founded during chaotic times, as a testament to resilience and diverse collaboration. Opnx brought together individuals from various backgrounds, both technical and non-technical, united by their desire to build. She believes that women possess a unique ability to bring these diverse viewpoints together, facilitated by their natural empathy.
“It is often harder for women to communicate openly, especially when they may not be socially comfortable in networking environments. Asking for advice and seeking mentors, as well as sharing your unique perspective and thoughts, can be incredibly impactful. You'd be surprised how many people share the same questions and challenges as you do. It's about making the most of that vulnerability, that counts.”
Leslie also shared her practical advice for women from a non-technical background looking to learn more about the blockchain industry. She advocated for creating content as a powerful means of understanding the industry's various facets. She was of the view that content creation allows individuals to communicate their unique perspectives, even when they might be uncomfortable with traditional networking methods. By sharing their viewpoints and questions, women can discover like-minded individuals and establish meaningful connections.
Narae Lee
Narae Lee, a technology lawyer and the CEO of Bliss Law Office, explored the challenges of the predominantly male-dominated legal industry and the changes necessary for achieving gender equality. She emphasized that both individuals and organizations need to play a role in this transformation. On an individual level, Narae stressed the importance of embracing change, having open communication and setting personal goals. On an organizational level, Narae Lee advocated for more flexible assessment and promotion policies and greater inclusion of women in leadership positions, emphasizing the synergy of these dual efforts.
“Try to communicate with your male colleagues, express your needs and meet in the middle in order to expand your horizons. There is always more to be done in terms of inclusivity of women.”
In the tech industry, particularly in the legal sector, Narae acknowledged the underrepresentation of women. She cited an example of a blockchain-focused VC in Korea dedicated to women entrepreneurs but found that due to the scarcity of women entrepreneurs in the field, they had to broaden their scope to include a wider range of companies.
Yingyu Wang
Yingyu Wang, an accomplished technology lawyer and partner at Simmons & Simmons, offered insights into her transition into technology law and the blockchain industry. She spoke about her genuine interest in technology that played a significant role in her decision-making process. Yingyu explained that she has always believed in the potential for improvement through technology, which led her to transition from being an IP litigator to focusing on tech-related legal work.
“Technology serves as a powerful enabler, and my background as an IP litigator naturally led me to explore this space. It was a client interaction during 2017 that truly immersed me in the world of blockchain and digital assets, and I've been fortunate that my passion aligns with my work.”
Yingyu emphasized the importance of having a genuine interest in one's work, as it fosters a deeper understanding. Taking initiative to self-educate and to explore the subject in length adds to the expertise of an individual, especially in a field as demanding as law. As a working mother of two children, Yingyu also discussed how she balances her professional and personal life. She highlighted the significance of a supportive partner, open communication, the need for active co-parenting as well as the importance of family-friendly workplace programs.
Q&A Time: Discussing Personal Branding and Non-Tech & Tech
Following the engaging panel discussion, we had an insightful open Q&A session between the panelists and the audience. During this segment, the audience had the opportunity to ask questions on either of the two topics, and the panelists who resonated with the chosen topic would provide their insights.
Topic 1 - Successful Personal Branding in a Fast Changing World
TL;DR: In the context of personal branding in the crypto and tech space, the speakers offered valuable insights on establishing and maintaining a personal brand. Erica emphasized the significance of an independent voice and storytelling in the creation of her own personal brand, as exemplified by her experience with KryptoSeoul. Leslie spoke about content creation as a means to effectively communicate unique perspectives and craft personal brands. Yingyu also discussed her journey of branding herself as a technology lawyer from an IP litigator and the practical reality of gaining enough knowledge to sharpen your skills in an ever-evolving climate like technology law.
Topic 2 - Fostering Collaboration: Tech and Non-Tech Synergy
TL;DR: The discussion highlighted how non-tech professionals can thrive in the tech industry. Clarisse touched on the significance of education and decision-making, sharing her journey from diverse fields to becoming a CEO. Narae stressed the importance of understanding tech in one's own terms, leveraging a legal background to bridge the gap. Yingyu advised maximizing strengths and collaborating with tech experts to succeed in non-tech roles. These insights underscored the value of diverse backgrounds and adaptable skill sets in the tech sector, empowering non-tech professionals to contribute effectively.
Minting the WIT NFT!
During the Women in Tech event, attendees had the unique opportunity to mint a special NFT called "Beyond Boundaries." The NFT was created by the talented artist May Kim, who collaborated with Hashed on the previous year's KBW Women in Tech NFT. This year, May Kim aimed to capture the essence of limitless energy within women leaders through her artwork. The minting process was facilitated through the POAP app. To mint the NFT, attendees used the "Secret word" was "diversity-leadership-growth".
May Kim's NFT, "Beyond Boundaries," served as a symbol of connectivity and the potential to create something extraordinary within the community, emphasizing the boundless capabilities of women leaders.
Our 🗝️ Takeaways
Here are some of our most important takeaways from the event (and we’d love to hear some of yours too!):
Education and Workplace Inequality: Education is relatively balanced in terms of gender representation, but gender inequality often surfaces in the workplace. To foster equality, efforts should extend beyond the educational sphere and address workplace disparities.
Tech's Empowering Role: Technology plays a pivotal role in democratizing work, providing the freedom to work when and where one desires. This flexibility is beneficial for working parents striving to balance their careers and family responsibilities.
Promoting Co-Parenting: Encouraging co-parenting is crucial. Workplaces should actively support both parents in achieving a harmonious balance between their careers and childcare responsibilities. The term "Working Parents" should be promoted to emphasize shared responsibilities.
Self-Awareness and Personal Branding: Developing a personal brand and finding one's voice in the tech industry requires consistency and self-study. Understanding oneself and embracing the constant personal growth are essential steps in crafting a unique and influential personal brand.
Diversity, Leadership, and Growth: The event underscored the importance of these principles in driving positive change within the tech industry. Diversity fosters innovation, while strong leadership is pivotal in pointing young women in the direction of growth.
