The Stellar Development Foundation (SDF) continues to make significant strides in ensuring fair access to the global financial system. By focusing on delivering products and services to underbanked and unbanked populations, SDF aims to offer solutions tailored to various communities. This mission becomes increasingly vital in light of the pronounced gender disparity in the technology and financial sectors. According to the World Economic Forum, women comprise 55% of the unbanked population globally. Addressing the financial needs of over a billion unbanked women necessitates that women take a leading role in developing these solutions. However, the current landscape highlights a significant imbalance.
In 2023, companies founded by women received only 2% of the venture capital funding allocated. Within the Web3 sector, women represent merely 27% of the workforce, and just 13% of founding teams include at least one woman. These statistics underscore the need for greater gender diversity and inclusion in the financial and tech industries.
Stellar Community Fund: Supporting Diverse Initiatives
A pivotal initiative supporting activities on the Stellar network is the Stellar Community Fund (SCF). In 2023 alone, SCF granted nearly 13 million USD worth of XLM, with projections indicating this figure will be surpassed this year. SDF ensures that the initiatives it supports have practical applications that generate positive changes for various sectors and individuals. By encouraging a diverse range of applicants, the foundation promotes a wide array of projects with real-world impact. The Ecosystem Growth team is particularly committed this year to increasing gender diversity among Stellar builders and SCF winners.
SheFi Collaboration: Empowering Women in Web3
In its effort to enhance gender diversity, SDF is collaborating with organizations like SheFi. SheFi’s mission centers on empowering women through education, experimentation, and community engagement. SheFi offers eight-week online courses and global events, such as the SheFi Summit in Brussels, designed to enhance participants’ expertise in Web3.
The partnership between SDF and SheFi was inspired by the female-led SheFi booth at ETH Denver 2024. Since then, several women from SDF have enrolled in SheFi’s learning programs. This collaboration exemplifies SDF’s dedication to practical use cases, with a focus on supporting women-led initiatives within the Stellar network.
No surprise that blockchain has a diversity problem. We want to change that. Catch us on the stage with @shefiorg around #ethcc to see what commitment to gender diversity actually means, and read about it below. https://t.co/6naVCHGJwQ
— Stellar (@StellarOrg) June 27, 2024
Anke Liu, Senior Manager on the Ecosystem Growth team, will deliver a keynote at the SheFi summit titled “Are There Real-World Use Cases for Blockchain?” Her presentation will spotlight developers and teams, particularly those founded and led by women, who are creating significant products on the Stellar network. This emphasis on showcasing women-led projects aligns with SDF’s broader goal of fostering gender diversity and inclusion in the blockchain and tech sectors.
Strategic Alliances and Market Performance
SDF’s commitment to practical applications and gender diversity is further supported by strategic alliances, such as its partnership with ZettaBlock. This collaboration aims to enhance Web3 development through advanced data and analytics technologies, contributing to favorable market performance.
By leveraging these strategic alliances and focusing on diverse, inclusive initiatives, SDF is poised to drive significant advancements across multiple industries. The foundation’s efforts are paving the way for a more connected and equitable global financial system. Through its various programs and partnerships, SDF is working to ensure that underbanked and unbanked populations, particularly women, have access to the financial services they need.
In summary, the Stellar Development Foundation is making notable progress in promoting financial inclusion and gender diversity. By supporting diverse initiatives through the Stellar Community Fund and collaborating with organizations like SheFi, SDF is helping to create a more inclusive and equitable financial ecosystem. These efforts are essential in addressing the financial needs of unbanked populations and fostering greater participation in the global economy.