KuCoin survey: 80% of Indian Web 3 professionals under 30 but women hesitant to join

• 80% Indian Web3 professionals are under 30, younger than the global average.

• The survey was conducted from June 20th to July 3rd on KuCoin’s social media.

• Shortage of women-led communities in the Web 3 workspace was revealed.
  
  

KuCoin, a global cryptocurrency exchange announced the findings of its global survey report, “Journey into Web3” on Wednesday. The survey says that 34% Indians are professionals who have worked in Web3-related sectors.

In this survey, Web3-related industries include cryptocurrency, metaverse, NFT, DAO, DeFi, Dapp development, blockchain-based gaming, DAO and the Web3 professionals are defined as those who have worked in the industry, whether full-time, part-time or freelance by project base.

The survey respondents were polled between 20 June and 3 July 2022, with responses being collected via KuCoin’s social media handles (Twitter and LinkedIn). No quota on geography, gender, age, or income was set.


72% of Web3 professionals in India happy with their careers

Report revealed that 80% of Indian Web3 professionals are under 30 years, while 47% of the Indian workforce who have heard but never worked for a Web 3 company have now joined the industry.

Of all those surveyed, 72% of Web3 professionals in India are happy with their careers, recognizing the industry’s benefits such as space for growth and innovation and better welfare. Additionally, 60% of surveyed Indian users who never worked in Web3 are interested in exploring the space.

Why are Indian women hesitant to join Web 3?

The report flagged the shortage of women-led communities, educational resources, and the stress of fast-paced industry as key challenges for Indian women to work or invest in Web3. Even though globally women have worked as engineers or developers in the industry, they are less entrepreneurial, says the report. Only 27% started their own initiatives while 33% of women surveyed said they find “bro culture” challenging in the Web 3 space.

Johnny Lyu, CEO, KuCoin said, “ KuCoin conducted this global survey to understand how people think about Web3 as a career option. The findings of our “Journey into Web3” survey reveals the bright Web3 future in India. We are optimistic to see more women-led communities in the near future from India.”

Medha B Dey Roy, Head of Branding, KuCoin India, said, “Women are more recognized for their transparent, empathetic leadership style and long-term mind-sets. These skill sets are crucial and play an important role in building a stronger Web3 ecosystem.” she added.

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles.

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