WTO Director, Ngozi Okonjo Iwela.
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Ngozi Okonjo Iwela, Director General of World Trade Organization and former Managing Director World Bank affirmed that blockchain technology will be beneficial to women in societies where restrictions for women accessing finance exits.
The former Nigeria Minister for Finance and Foreign Affairs made this known at G20 powered event. The High Level Independent Panel on Financing Global Commons for Pandemic Preparedness and Response for G20 Finance Ministers held at Venice Italy.
During the high powered panel discussion, Christina Cornér, Cointelegraph Editor-in-chief addressing the panelist, explained how blockchain technology could positively benefit women in the era of covid 19, seeks regulators and lawmakers openess in accessing the avenue.
In response, Ngozi Okonjo Iwela the co-chair of the panel was only one amongst ministers to speak on the place of women in blockchain.
” Of course blockchain is something that brings more transparency in the way that business is done and remove intermediaries,” Ngozi Okonjo Iwela said. Reiterating further, she noted, ” I think that particularly in the finance area, the ability to introduce this into transactions, I think could be particularly beneficial to women who are often excluded from access to finance. I think this is a good thing, something we should look into.”
It’s no doubt that women are disadvantaged in many countries particularly in accessing large findings for businesses.
Most cultural obstacles require women to meet up with ridiculous requirements. The remoteness of financial activities occasioned by the pandemic makes this difficulties harder.
Blockchain technology and crypto seems to be a workable solution for achieving financial access for women.