A DeFi education program for women aims to change the sector

Decentralized financial platforms have become more important today. Now a program that focuses on teaching DeFi protocols to women could reverse this sector.

SheFi is a new place for women around the world to learn more about how DeFi platforms work. Maggie Love, its founder and Consensys member, recently stated in one post Office published on medium, how it works and what its motives are.

SheFi’s goal is to promote participant cohorts every month. According to its founder, This plan should change the way women use DeFi with a new teaching model.

SheFi is currently an internal pilot at Consensys. And it will likely remain in this status throughout 2020. So far there have been 4 sessions and USD 150 has been collected in DAI, an Ethereum token that is worth 1 to 1 against the US dollar. This money was used in Compound Finance, a decentralized loan log.

The teaching model focused on women in the DeFi sector

Every month the participants get to know a new DeFi project. This is how love explains it: «Women collect money on which they all agree is donated to a non-profit organization at the end of the month “. Participants zoom in and record sessions for those who cannot attend.

In my experience and talking to others, there is a cognitive dissonance between HODLing with Ethereum and using a new, risky, and interesting protocol. By collecting money, a woman does not jeopardize her own cryptocurrencies: the group practices with money that she has already agreed to give away (charitable donation). This reduces the reservations we may have when experimenting with these new DeFi projects.

Maggie Love, director of W3BCLOUD.

Until recently, many believed that women using cryptocurrencies made up a very small percentage of users. In 2018, a study found that only 9% of Google’s cryptocurrency searches were done by women.

On the other hand, a study by Allianz Financial cited by Love from 2019 offers interesting numbers. It highlights: «25% of the women in the sample say they are currently hiring a financial professional, a number that declines each year. 57% would like more confidence in financial decisions. 62% feel financially secure (a number that has decreased compared to previous years) ».

These statistics are interesting when you consider that women currently control 51% of personal wealth in the United States. New York Life Investment Management said in a $ 22 billion study.

The general perception of these numbers is that women were more careful about investing and using cryptocurrencies. It is precisely this area that initiatives like SheFi want to conquer. Women who learn DeFi every day create a global community. The pillars of this participation are Creation, study and experimentation with decentralized cryptocurrency protocols.