Web3 is in a unique position - it’s new, it's volatile, and there’s still a global push to bring people in. Compelling us to become inclusive.

Image courtesy of @GuerrillaBuzz

Despite volatility in bear markets and all the rhetoric that comes with it, Web3 still seems to be attracting people on a daily basis. This sentiment mirrors a key insight taken from a full house event I spoke at a couple of months back - the day of the crypto crash.

There are many people who are missioned with growing the web3 ecosystem. This is also the case within Algorand; a leading blockchain technology company designed to be the most efficient and greenest blockchain available. Achieving fully carbon neutral status in April 2021. 

Let’s look at 4 brands within the Algorand ecosystem:

• Algorand Foundation’s Accelerator Programs back start-ups and projects that build, grow and foster innovations across the Algorand ecosystem. Building a network of ambassadors to help shape the blockchain community through their Community Leadership initiative.

• AlgoHub is one of the latest Algorand Foundation grant recipients to develop a Virtual Blockchain Developer Hub for the Asia Pacific Region. They’ve completed their first Hackathon alongside partner Reach and Deakin University's Launch Pad - team KINSPACE participated - check out the dApp we made here

• Reach is a platform for practical blockchain development, making it exponentially faster and cheaper to launch decentralized apps on any network. The platform broadly consists of a programming language, compiler, and suite of testing and deployment tools. Check out their 2022 Bounty Hacks or join their discord community.

• Meld Ventures backs the next wave of blockchain entrepreneurs and bold innovative projects across DeFi, Supply Chains, Commodities, NFT’s and Finance - with approx 65 investments in the ecosystem and counting.

In the broader Web3 ecosystem, Unstoppable Domains' is also on the case. Their Web3 Diversity Initiative Unstoppable Women of Web3 attracted a $10million grant to train the next generation of women as leaders in Web3. They’ve helped train more than 35,000 women since launching.

Why diversity? is no longer the question.

Most have moved on from building business cases as to the benefits of diversity.

If you’re not quite there - it’s time to get educated. 

Successful organizations are the ones that anticipate customer desires by solving problems that are meaningful to them, serving them at every potential touchpoint. Ultimately translating market trends into winning market-fit strategies.

We know that in order to attract, retain and grow users, customers, creators, and developers in web3, we must become inclusive, we need as much diversity as possible to make this happen. 

It’s said in the industry, that if embraced now, course correction won’t be required. 

That is a unique position; although I’d challenge that.

Web3 might be new, but the attitudes, assumptions, behaviours and practices of those in decision making roles are not. Nor are the systems they operate within.

What happens when a group of people design, build and launch a product to market, without having first defined the market? 

What happens when a Discord community is launched - without having first identified who’s interested in joining, what matters to them - and if they really care?

What happens when somebody like me from the BIPOC community, or a person with a disability from the LGBTQ+ community enters Web3? 

When you think of a creator, a developer, an engineer, a founder, a community builder, an NFT artist - who do you picture? 

How about those you think are most likely to move into web3?

Are you picturing a diverse range of people?

If not, therein lies the problem - conscious or unconscious.

Of all the interactions I've had in Web3 - events, bounty hacks, discord channels etc, I’m yet to be asked about my characteristics other than my role title and developer (or not) status. 

If you’re not counted, you don’t count. 

Invisible.

Data disaggregation allows us to account for factors such as gender, race, ethnicity, age, disability, and LGBTQ+ that contribute to the barriers people from underrepresented groups face.

This data will help us identify who’s in our space, better understand situations, problems and barriers, and is key to informing growth strategies. 

The lack of which is one of the major barriers to innovation.

We’re in the business of building high performing teams, products and communities.

Right now, this is a missed opportunity in Web3 - given Web3 companies are preparing for the next bull run, perhaps course correction could start here:

Here’s 6 questions to ask to get in the know:

1. Who’s actually in our space? 

2. And who's on the periphery?

Once we learn who, then comes what:

3. What’s important to them?

4. What barriers might they face?

Remember we’ve moved on from asking why diversity?

So next we ask how do we move forward?

 

Where might we find that information and from whom? This starts with data disaggregation; and team KINSPACE can help.

We know we must become inclusive and create space for women and people of diverse genders and those from underrepresented groups to move into this space. 

The final 2 questions require taking a bold inward lens; ask yourself:

5. How is diversity represented in our organization? 

6. How about at the decision making levels?

The burning question for all decision-makers - founders, investors, creators, product and community builders in Web3 should be:

How might I be contributing to the problem?