In today's globalised world, access to financial services is a critical component of economic participation and independence. Despite this, far too many individuals are still excluded from the traditional banking system, with women often bearing the brunt of this exclusion. Shockingly, although an unnecessary one-quarter of the global population remains unbanked, in countries like Saudi Arabia, 36.5% of women lack access to basic banking services, preventing them from fully participating in their country's economy and society.

Here are just a few examples of the conditions that women around the world still endure today:

These are just a few examples of the kinds of obstacles that women in many present-day societies still face when it comes to accessing financial services and achieving financial independence.

This lack of access to fundamental services makes it incredibly difficult for these women to achieve economic independence and take control of their financial lives. However, there is hope on the horizon. Since the rise of Bitcoin, these women now have a solution to this problem. Through a simple internet connection, they now have access to a trustless, permissionless and decentralised medium of exchange that the traditional banking industry has failed to provide. Bitcoin is empowering women who have been left behind by the traditional financial system.

Let's look at one such example of how Bitcoin has transformed women's lives...

Afghanistan is a country that has been plagued by conflict for decades, and the situation for women in the country is particularly dire. The Taliban's oppressive regime, which ruled from 1996 to 2001, stripped women of their basic rights, including the right to education and the right to work. Even after the fall of the Taliban, women in Afghanistan continue to face significant challenges, including limited access to education and employment opportunities and a lack of financial independence.

However, in recent years, Bitcoin has emerged as a powerful tool for financial empowerment, especially for women who are often marginalised. One individual who has taken advantage of Bitcoin's potential is Roya Mahboob, an Afghan entrepreneur who has used the digital currency to help women in her country access financial services and regain their dignity.

While the world watched in horror as the Taliban seized control of Afghanistan in 1996, this young girl Roya was living in the heart of the conflict. At just seven years old, she found herself caught up in the turmoil and uncertainty of war as her hometown was invaded and occupied by the Taliban. Despite the danger and adversity she faced, on top of the fact that she was unable to go to school, Roya refused to be defeated. Instead, she turned to education as a way to overcome the limitations imposed upon her by her circumstances.

Figure: Roya Mahboob

Roya Mahboob is a trailblazer in Afghanistan's technology and entrepreneurship field. Not only was she named TIME Magazine's 100 Most Influential People in the World for 2013 after "building internet classrooms in high schools in Afghanistan." She also founded the Afghan Citadel Software Company in 2010, which aims to "create jobs for recent university graduates - especially women." And if that wasn't enough, she then went on to start the Digital Citizen Fund. This non-profit organisation works to empower women and children in developing countries through technology.

However, throughout this journey, Roya was not alone. Bitcoin has proven to be an invaluable tool in her mission to empower women. Despite facing numerous obstacles, including legal barriers preventing women from working and opening bank accounts, Roya was determined to find a way to pay the women who were working with her.

This is where Bitcoin came in… Because holding bitcoin doesn't require the owner to have a traditional bank account, anyone with an internet connection can use it. This means that women in Afghanistan who may not have access to traditional banking services can still access financial services through Bitcoin.

Therefore, given its trustless, permissionless and decentralised characteristics, it provided a lifeline for these women who had previously been shut out of the traditional financial system.

Roya Mahboob recognised this potential early on and began to incorporate it into her work with the Digital Citizen Fund. She saw that Bitcoin could provide a way for women in Afghanistan to access financial services and take control of their financial lives.

One of the ways that Roya Mahboob has used Bitcoin is through a program called the Women's Annex Foundation. The Women's Annex Foundation is a platform that provides educational and employment opportunities for women in Afghanistan. It gives women the opportunity to create content such as blogs, videos, and social media posts. This content is then shared on the Women's Annex platform, enabling them to connect with a global audience and earn money in the form of bitcoin in exchange for their work. This is something that would have been previously impossible before the emergence of Bitcoin. Since its inception, the Women's Annex Foundation has been a tremendous success, helping countless women in Afghanistan to gain financial independence and take control of their financial lives. By earning bitcoin, these women can bypass traditional financial institutions and access financial services that would otherwise be unavailable to them.

In addition to providing financial independence, Bitcoin has also given women in Afghanistan back their dignity. Because Bitcoin is decentralised, it has enabled women to take control of their financial lives without the need for a male guardian. This is a significant step forward in a country where women are often treated as second-class citizens.

Furthermore, with the help of Mahboob and Bitcoin, these women in Afghanistan can now connect with a global audience. Hopefully, in the years to come, these women will continue to share their stories and perspectives with the world, helping to break down the barriers that exist between different cultures and communities.

Overall, Bitcoin has been a powerful tool for women's financial empowerment.