Korea IT Times sat down with Kimberley Gantz, Founder and CEO of Crypto Beast Agency discussed how crypto providers can come through the current market turmoil. Gantz, was one of the earliest members of DeFi yield platform Celsius Network and has cut her teeth in the crypto marketing and events world since 2018. In 2021 she launched Crypto Beast Agency (CBA): an all-female-founded experiential crypto events and marketing agency. Through Crypto Beast and her collaborations with other like-minded organizations, she hopes to begin opening up the industry to alternative voices.
She commented, "Crypto is suffering from the same lack of diversity. Bad decisions are being amplified by crowds of like-minded decision-makers, and communities egging them on. If this latest crash teaches us anything it should be that we have to switch out of this breakneck growth, “crypto bro” mentality, take a step back, and include people that can build a strong, sustainable, Web3 future. And those people are not asking “WEN 100x?”
The following are interview questions and answers with Kimberley Gantz.
How will having more diversity in crypto help it to avoid the same pitfalls the traditional finance world has faced?
In traditional finance, we have mostly white men controlling the federal financial sector. This means viewpoints are limited and so, by extension, are the solutions being offered. Right now, for example, there is massive inflation and no new ideas on how to tackle that. With greater diversity in the crypto world, we will be able to develop new ideas to combat these challenges, as well as challenges concerning technical complexity, inaccessibility, and inequality.
We also need to think about who benefits from men controlling the entire financial sector. If it's only men controlling the finance world, it's more difficult for people outside of that population to become involved in it and benefit from it. As a society, the more we are all lifted up, the better we are. If men are the ones who control the wealth, they control the government, laws, and ultimately, have the voice and narrative. This power is not representative of our nation and our world.
Women tend, by nature, to be more cooperative. How has this mindset lifted your all female-founded Crypto Beast Agency?
A diversity of voices is a diversity of ideas. Having more diversity on the team means more “outside of the box” thinkers that are willing to put forward and develop different ideas. Women tend to be better at collaborating and working on a team, which lifts the whole company up. Having a diverse collaborative community and a decentralised workplace helps us to develop a unique brand and business proposition.
Indeed, there are many advantages to having a women-led company. For example, women tend to be able to multitask better and think in a less linear direction. This has been beneficial not just for Crypto Beast Agency, but for our clients. The whole crypto world was founded on the idea that it can be different from traditional finance. Because of its diversity, Crypto Beast Agency - as well as crypto in general - is accessible, creative, and future focussed.
What are some challenges you have faced in the crypto world and how did you overcome them?
Women have not always been welcome in the crypto or traditional finance world. I wanted to create a space that not only welcomes those who are underrepresented, but encourages them to succeed and take up space.
Some challenges women face in the crypto space, and also in their everyday professional lives, is the wage gap. The wage gap tends to be astronomical in the finance world and this translates to the crypto world where women tend to be undervalued. This is something that I can change within my company and something that I am fortunate to be able to control.
Another challenge, on a professional level, is women are often not heard as much as men. It is common for our thoughts and ideas to be brushed off. I and many of my female colleagues have experienced our voices being of lesser value and importance. This, along with many other reasons, is why I created my own company where everyone’s voice is heard and important. It is necessary to create more of these safe spaces in the crypto world and I hope I can encourage other women, LGBTQ, and BIPOC to create these spaces for each other.
How do we encourage young women, LGBTQ, and BIPOC to enter the crypto and fintech sphere?
When we are little, the people we look up to are the people we want to be. Maybe for some of us, that was the president or an astronaut. Unfortunately most, if not all, of these examples are men. This is a universal issue: not having enough women in powerful positions for young children to look up to. The key to more diversity in the fintech sphere, and all other fields, is having more women, LGBTQ, and BIPOC in power to set examples. Women in senior positions are scarce, which is why it is important to promote women and look for women, rather than men, as examples in history books or as astronauts.
Teaching STEM subjects at a younger age and encouraging women to enter these fields is also an important piece of getting more women into more technical and senior positions. Another roadblock for women entering the crypto world is that women tend to take less risks, and the world of crypto and finance offer high rewards for high risks. This draws more men into the sector and can push women out. It is important we encourage women to take more risks and not shy away from having interest in spaces typically reserved for men.
What advice would you give to a company wanting to hire more women, LGBTQ, and BIPOC?
A mistake that I see many companies making when they hire, this especially goes for the finance world but applies to other sectors as well, is that they only target one place. The key to diversity is to look where diversity exists. When companies hire students out of expensive universities or from top tier companies, there is one brand. This brand tends to be monotone and most potential hires from this brand have the same background which means they have similar ideas and similar ways that they do things. Looking for people from all walks of life who have very different experiences is the key to diversifying your company.
If a company wants to hire more women, LGBTQ, and BIPOC they need to make the company safe for all their employees. This means that everyone needs to feel supported, valued, and the culture needs to be inclusive. A company could hire all the women, LGBTQ, and BIPOC that it wants, but that does not make them stick. Having senior role models in the company that women, LGBTQ, and BIPOC can look up to and relate to would go a long way in helping employees stick around.
Why do you love about crypto and why are you a part of the crypto world?
One thing I really like about crypto, and what crypto stands for, is accessibility. Many people do not have access to the traditional banking system, and there tends to be a lot of gatekeeping surrounding finance when it comes to stocks and traditional investing. Traditional finance can take a long time to learn and it can be complicated.
Crypto, on the other hand, is made to be accessible. It's made for the masses and anyone with wifi or cell phone service can access information or participate. The entire crypto world is dependent on people participating, staying informed, and helping others understand.
I also love how fast crypto is. Not only is the transfer of funds fast, but the culture is fast. Things can change in the blink of an eye and the crypto world adapts. In this day and age, if we are not adapting at a rapid pace, we will be left behind. This is a big issue central banks are facing now, and one that crypto can avoid by its very nature. Crypto is the future and I love being part of such an evolution.
