Paxful a peer to peer Bitcoin marketplace connecting buyers with sellers, is planning to expand its presence in South Africa. The organisation is planning an Africa-wide recruitment drive with a focus on women.
“Paxful, supports the important role that women are playing, and should continue to build on, in the innovative blockchain technology and cryptocurrency sector,” the company said in a recent address.
While looking into expanding its presence in South Africa, Paxful is hoping to nurture as much female talent as possible. Almost 40% of Paxful’s employees are women and the company is set to further increase female appointments in its offices across the globe, located in New York City, Hong Kong, Estonia, and the Philippines.
While overall female participation in the broader crypto-economy, according to several sources including the World Economic Forum (WEF), is estimated at between 1% and 5% globally, Paxful believes that growing female participation in crypto will be key to the sector’s continued innovation and success.
“Women are critical to the future of the crypto-economy and we are committed to fostering more diversity and supporting efforts to attract more women to make their mark in the industry,” says Ray Youssef, Co-Founder and CEO of Paxful.
“We’ve already seen the incredible contribution that women have made to the technology sector overall as founders, developers, product managers, investors and more. The crypto-economy could greatly benefit from the rich diversity of skills, perspectives, experiences and many other unique resources that women can offer. Further, in my opinion, women are decidedly better community builders, which is a very important factor in driving a peer-to-peer economy like the crypto space. At Paxful globally, many of our senior leadership roles are held by women,” Youseff adds.
With millennials making up the bulk of Paxful’s customers in Africa, Paxful‘s recruitment drive in Africa includes a Student Ambassador Programme on tertiary institution campuses across the continent. Female participants from Johannesburg and Cape Town are already the top performers in the Programme.
The programme made up of a series of workshops, educates and empowers youth who are interested in entering the crypto-economy and especially encourages entrepreneurship in the crypto-sector. To extend the Programme’s impact, students who participate in the initiative are financially incentivised to educate their peers about the bitcoin economy. To date, Paxful’s University education outreach has engaged more than 1,000 students.
With over 2.5 million users globally and Africa is one of its top markets, Paxful has gained valuable insights into how consumers are evolving their use of digital currencies like bitcoin.
“Our goal is and always will be to empower individuals by presenting the entrepreneurial opportunities of bitcoin and peer-to-peer finance. We all have our part in levelling the playing field and to ensure equal opportunity to pioneer the peer-to-peer financial revolution,” concludes Youssef.