Mastercard brings inclusivity to the forefront by announcing the launch of The Belle Block, an industry group to focus on empowering women and non-binary individuals to use Web 3.0 technology and cryptocurrency.
Educating a more diverse community on new financial technologies, cryptocurrency, and blockchain is the goal for this project. The Belle Block is backed by Mastercard’s Global Crypto and Blockchain team to act on the main principals of their mission: Education, Entrepreneurship, Business Growth, Legal & Regulatory Advocacy, and Leadership.
Mastercard is building a platform dedicated to diverse voices by prioritising education and building inclusive conversations with under-represented communities in fintech. This movement towards diversity in the changing crypto climate and digital ecosystem is especially relevant during pride month, as inclusivity is being advocated for worldwide.
A global 2022 survey by Mastercard’s New Payments Index indicated the gender gap in the crypto space at present: nine out of ten women know what cryptocurrency is, but the majority have not engaged with it, 58% of women are aware of NFTs vs. 69% of men, and 59% of women have heard of CBDC vs. 69% of men. The shortage of diversity within the field correlates to the lack of engagement with a wider community, particularly women and non-binary people.
The Belle Block platform offers women and non-binary individuals the opportunity to become involved with Web 3.0 and other emerging technologies in ways they have not been offered in the past. Mastercard is collaborating with industry leaders to launch The Belle Block, including spokespeople from SheFi, HerHouse, Boys Club, and Blu3 DAO.
Jorn Lambert, chief digital officer of Mastercard says, “Today marks the start of an exciting and forward-thinking journey to together bring more women and underserved communities to the table in the Web3 and crypto world.”
Maggie Love of SheFi notes, “We know that financial empowerment is critical in a world where women face systemic inequalities when it comes to rights, economics, access and opportunities. While money is not a silver bullet for solving all problems, we believe that women can start to unlock opportunities across all areas of their lives, including overall health and wellbeing, when they are financially empowered.”