This session showcases new research from the Crypto Council for Innovation that has documented how Web3 technologies can democratize access to capital and other resources that can help all builders develop and grow thriving projects and companies.
“Web3” – the industry ecosystem built around blockchain technology – is often framed as disrupting historic concentrations of power, access, and incentives, with core technical qualities and structures that can address some of the structural barriers to equal access to capital and resources. Web3 is entering a new stage of maturity, with growing institutional interest and investment and growing interlinkages between Web3 and other technology spaces, including artificial intelligence and financial technology. The participation of historically underrepresented builders in Web3 is critical to ensuring that all communities stand to benefit from future technological advancements.
New research that has engaged Web3 builders across the United States documents novel ways in which Web3 tools are allowing founders and communities to organize and allocate capital, democratizing access to critical early financing. Further, this research explores how the open-source nature of public blockchains make this innovation space more accessible to builders than other legacy technology and financial ecosystems.
Today, across all industries, less than 1% of all venture capital goes to Black founders, and less than 2% to Latino founders – with significant implications for the needs and communities being addressed by products and services that are built and go to market. While these trends are currently mirrored in venture funding allocated to Web3 projects, underrepresented builders are being drawn into the space because of its lower barriers to entry and enhanced ability to build for their communities. 90% of the builders who participated in the research indicated that they had entered Web3 to build for the unmet needs of their communities.
This panel will present key findings from the research and feature Web3 founders and funders who will share their personal experiences and recommendations for pathways forward and investable ideas to move towards equity in web3.
