There’s No Decentralization Without Diversity: Kara Howard

Kara Howard is the Founder of SI<3> and is a passionate advocate for inclusion of diverse groups in the development of the new economy. Kara has ten years of experience in Equity Research and financial analysis, and holds an MBA from NYU in Entrepreneurship and Marketing. She also has ten years of experience as a growth marketer, including her role as VP of Growth and Partnerships at CleverTap, a marketing CRM and engagement platform. Kara has been guiding and championing women in emerging tech communities for the last ten years, and is very bullish on women and the emerging markets leading in this next evolution of a more democratized and decentralized economic system.

As someone who has been advocating for decentralization since 2008, how do you see the current state of blockchain and Web3 aligning with your vision of a more accessible and equitable web?

Web3 has the opportunity to create borderless connection, community and economic exchange through its DeFi and blockchain technologies. It is a very exciting time for the industry as much of the core infrastructure of these technologies has been developed, alongside interest and demographic-based communities.

I believe we are now entering a very important stage which is focused on growing Web3 projects and making them more accessible to mainstream markets. It’s important we create pathways for a broad spectrum of demographics using inclusive language, education, and distribution channels.

With your experience in finance and community building, how do you think decentralized technologies like blockchain can support financial inclusion, especially for underrepresented groups?

This is one of the most meaningful aspects of the potential of Web3. We know that there are socioeconomic and geographic barriers that many face in the tech industry in achieving leadership-level compensation and opportunities. Much of this is due to access to higher education, networks, and geolocations with larger income averages. What is encouraging about Web3 is that new entrants may find it easier to grow professionally vs. than in the general tech industries. It can be less about one’s background and pedigree, and more on one’s present meaningful contributions to an organization.

Still, there are barriers faced by underrepresented groups in some areas of Web3, such as in DAO delegate representation and grant councils. Unfortunately unconscious bias still exists, which can result in people engaging, funding and hiring people similar to themselves. In response to this, we have created a 6-month working group and DEAI (Diversity, Equity, Accessibility and Inclusion) training program called FIXX (Financial Inclusion XX Chromosomes) for blockchains, protocols and DAO’s with grant programs. We believe it is very important that these organizations are aware of how to attract, fund and hire underrepresented groups.

SI<3> focuses on DE&I within emerging technologies. What key challenges do you see in making the Web3 space more inclusive, and how can the industry address these gaps?

These are our key areas of focus around the areas of driving accessibility and inclusion:

• Bring awareness of the lack of representation and financial inclusion in Web3 to key organizations, provide them training and resources, and support them in leading by example
• Aggregate and synergize diversity-focused groups. Currently, we have 30 women in Web3 communities within our ecosystem. We know that we can become more effective in our inclusion and representation challenges when we unify and become a formidable force
• Connect the two above-mentioned groups (Web3 communities and Web3 organizations) in strategic partnerships and community growth and education programs

Given your background in equity research, what parallels do you see between the early days of the sharing economy and the rise of decentralized finance (DeFi) in today’s blockchain landscape?

It is interesting to look at the concepts within decentralization and make connections to the sharing economy. Both topics relate to decreasing the emphasis on centralized, individualized ownership…from computer servers, centralized banks, and even homes and physical goods. 

In these early days of DeFi, we can learn from the mistakes of the sharing economy. While the intentions of the sharing economy were likely mostly good, over time we saw how it often benefited the wealthy. For example, we see individuals and real estate groups amass many Airbnbs throughout regions. Here, a sharing economy platform and concept is capitalized and moved towards even greater centralization and wealth division.

Similarly, we see decentralized tools and systems like blockchain and crypto with the potential to democratize access to wealth actually exacerbating the wealth divide. Early adopters, who entered the crypto market in its early stages, have disproportionately benefited from the significant price increases. This has led to a concentration of wealth among a select few.

To bridge this divide, it is essential to:

• Promote financial education: Increase awareness and understanding of cryptocurrencies among underrepresented demographics, focusing on the benefits and risks.
• Improve financial inclusion: Enhance access to financial services, particularly in regions with limited infrastructure, to increase the adoption of cryptocurrencies.
• Develop targeted marketing: Tailor marketing efforts to specific demographics, highlighting the potential benefits of cryptocurrencies for their unique needs and circumstances.

As you activate the SI<3> ecosystem, what are some of the key strategies you’re employing to ensure that decentralized media and technology become more accessible to wider communities?

Everything we create has a diversity-first lens. This means we are designing and developing programming and technologies that put underrepresented groups first. Until we see equitable representation, we will continue to employ these strategies:

• In every virtual or in-person event or experience, aim for the majority of perspectives represented to come from those not in the default/most commonly represented demographic
• It is hard to “Be What You Can’t See.” This means utilizing an empathic approach in understanding that our belief systems about ourselves are often shaped by those who have been our mentors, teachers and guides. I believe it is very important that women from global regions are receiving education from women that are also from their region and culture. Therefore, we are helping bring women’s communities to the forefront that may be less well-known or smaller in terms of member size than other established communities, but have the potential to make a strong impact in their local regions.
• We try to develop our platforms for accessibility on mobile, as we are aware that there are those in Web3 that can’t afford personal computers and laptops.

It’s a wrap-up:

“There’s No Decentralization Without Diversity”

Feel free to contact

Kara’s Si Her Web3 Site
X: si3_ecosystem