Project Summary

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Foster Public Adoption of Cryptocurrency

Duration

8 weeks (2021)

Role

Design Lead, Visual and Interface Designer, Interaction Designer, UX Researcher

Team Member

Erin Mills, Megan Tay, Lim Ing, Jungmin Ahn

Tools

Figma, Photoshop, Illustrator, After Effects, Procreate

Small businesses and consumers experienced difficulties in transactions using cryptocurrency due to the complex trading system and price volatility. To many, the concept of crypto is a large grey area, often associated with scams and crime. This lack of trust and grasp deters people away from using it as a method of payment.

RevoPay aims to familiarize common folk with cryptocurrency for transactions, by giving the mysterious concept a familiar face, and packaging key technicalities of crypto into a social and accessible paying application. Like other crypto wallet, RevoPay has a trading and coin acquisition function that equips all levels of users with the information they need to make trading decisions. RevoBiz, the business version of the app, supplies owners with various insights, on top of quick, zero-fee transactions, at a monthly subscription fee depending on the bussiness’ earnings.

3 Gold, 13 Silver, 2 Bronze

Indigo Design Award, 2022

Honorable Mention

European Product Design Award™, 2022

Finalist

International Design Excellence Awards (IDEA)®, 2022

Honorable Mention

International Design Awards™, 2022

1.1

The Problem Space

Cyptocurrency, or crypto, is a decentralized digital money based on blockchain technology that to record transactions and issue new units. However, small businesses and consumers experienced difficulties in transactions using cryptocurrency due to the complex trading system and price volatility. Other crypto transactions have large fees, such as platform commissions, and transfer fees, which is counter-intuitive to transactional and business usage.

Besides, to many, the concept of cryptocurrency is a large grey area, often associated with scams and crime, the negative image of cryptocurrency makes it feels unsafe and illegal. This lack of trust and grasp on cryptocurrency deters people away from using it as a method of payment.

1.2

Research Goals & Methods

a. Non-crypto Users

To gain insights into deterrence towards crypto and gauge acceptance.

Interview & Culture Probes  (n=8)

We set up interviews and culture probes to study non-crypto user’s perception on crypto and their payment behavior.

b. Experts & Crypto Users

To gain insights on their current experience with crypto and how they utilize it in daily life.

Interview  (n=4)

We set up in-person and online interviews to gain their experience on crypto, and how did they start using it.

c. Small Retail Businesses

To further understand their business operation, problems and potential opportunity areas.

Interview  (n=4)

We set up in-person interviews to understand how they operate their business and their pain-points on transactions.

d. Global Public Survey

To gain insights into the image of crypto and gauge general knowledge in a global scale.

Online Survey  (n=203)

Our survey has reached global users from 32 different countries and received a staggering amount of responses.

1.3

Research Insights

1. Retention is Key

The difficulty to retain complex concepts prevent users from fully understanding much material on crypto, creating knowledge gaps. These knowledge gaps creates unknowns and ambiguity around the subject, deterring people from stepping into the realm of crypto.

2. Relevance Trumps Expertise

Our area of focus - retail transactions - is a familiar territory for the average consumer. This familiarity and design space mean we can build trust by providing only information that is targeted and relevant.

3. Adoption is Social

The adoption of crypto as a payment method is highly dependent on the success of its social acceptance & prevalence. This social acceptance can be quickly generated through group adoptions or guides that act as reassuring figures.

4. The Bad Guy

Cryptocurrency has a general association with scams, instability, security breaches, and criminal activity. It also has a poor reputation at being eco-friendly, but efforts are being made to tackle the issue of sustainability.

5. Open The Gate

Businesses are willing to include crypto as a payment option, but need other payment methods for universality. They also see stablecoin as a viable, more feasible form of cryptocurrency for transactions.

6. Ease of Transaction

Current platforms take a percentage of profit and transactional refunds can take months to be settled. Crypto transactions can also give business owners more control over disputes, as current platforms tend to favour customers.

2. Relevance Trumps Expertise

The downside is that if unregulated, these irreversible crypto transactions can be abused by retailers. With quicker transactions, business owners can place and retrieve money into crypto faster, earning more profit and making lesser losses.

*For data analysis, insight translations, persona, and competitive studies

To streamline the payment between small businesses and their consumers, by fostering the social adoption of cryptocurrency.

Design Opportunity ::

Assure users of our solution’s security, transparency, and business-friendly processing.

Recreate the familiarity of universal retail transaction methods with crypto to match the user's mental model.

Design around the process of social acceptance using the concept of community adoption.

2.1

Concept Development

We created several task-flows for each use cases and scenarios, (figure 1) to identify painpoints and opportunity areas. A journey map (figure 2) was drafted with the idea of building physical events for constructing the social community on the concept of cryptocurrency.

Breaking down each insights we got from the primary and secondary research and ideate solutions based on the “How Might We” thinking process  for concept mash-ups (figure 3).

Figure 1

Figure 2

Figure 3

2.2

Prototyping & Iteration

We set the project direction as RevoPay, an app for consumers and personal/friendly transactions; RevoBiz., a business version of RevoPay, designed for merchants; and RevoShop, in-real-life events to rise the soical adoption of cryptocurrency through concept’s tangibility.

Initial task flow for making a payment with RevoPay and coin acquisition

Low-fidelity RevoBiz. prototype, business management, and project link feature

2.3

User Testing Methods

a. Card Sorting

To uncover user’s mental model of making and receiving a payment, and to see if the terminology we provided suit user’s knowledge on cryptocurrency.

b. Unmoderated Usability Testing

To ask participates to complete tasks in their own environment using their own devices and provide feedbacks. The remote testing was conducted during Covid-19 lockdown.

c. Heuristic Evaluation

To measure usability problems in the UI design. Involved expert examiners to review prototypes and provide experienced feedbacks to enhance the product experience.

RevoCoin, to ensure the safety, speed, and cost-efficiency of the currency for our users, while optimizing it for retail transactions.

Targeted Painpoint:

Crypto’s volatility is counter-intuitive to transactional use, which deters consumers and businesses away from utilizing it.

RevoCoin ::

RevoPay’s own issued stablecoin that backed with the fiat USD. Stablecoins were originally used for crypto exchange.

Same benefits like traditional crypto as being secure and fast, but less volatile, which is ideal for retail transactions.

A medium to help people adapt the concept of cryptocurrency in an easy, smooth, and less-risky way.

3.1

The Product

RevoPay

RevoPay aims to familiarize common folk with cryptocurrency for transactions by giving the mysterious concept a familiar face and packaging key technicalities of crypto into a social and accessible paying application. Users can manage crypto as a crypto card wallet. RevoPay is also set to build social interactions through the app with a unique Community feature, allowing both consumers and business users to interact and grow the social adoption of cryptocurrency.

RevoShop

RevoShop is a variety of physical pop-up events to strengthen the global community of crypto, instead of virtual. To generate excitement around the service and ease users into the concept of paying with crypto. At these pop-up store events, users can speak to our staff to get walkthroughs on RevoPay and crypto. Users will also get the chance to physically experience RevoPay, as the vendors at the event utilize our service.

RevoBiz.

RevoBiz., the business version of the app, supplies small business owners with various insights, on top of quick, zero-fee in-house transactions, at a monthly subscription fee depending on the business's earnings. RevoBiz. allows business owners to receive payment in the form of cryptocurrency by generating address codes that could be used for on-ground payment transactions and check-out links for particularly eCommerce usages.

3.2

RevoPay

Card Design Appearance

RevoPay aims to familiarize common folk with cryptocurrency by giving the mysterious concept a familiar face. The app is designed based on the universal mental model of payment. From our research shows that a “Card” design appearance could best present cryptocurrency to crypto-beginners.

Market Chase

RevoPay packages key technicalities of cryptocurrency into a novice-friendly way to aid information digestion, and compile content into an easy-to-follow manner, avoiding mental overload for especially beginners.

Easy Payment

RevoPay is designed to provide quick payment transaction from easily scanning QR code from  merchants. Eliminating the complicated learning curve of address code and blockchain knowledge.

Adoption is Social

The RevoPay community, made up of individuals ranging from novices to experts, allows new users to quickly learn about crypto within their social circles, and experts to share their thoughts on trending topics and news. RevoPay aims to make cryptocurrency sociable.

Useful Links

RevoPay

RevoShop, to generate trustfulness and
excitement
around the service and ease users into
the concept of cryptocurrency.

Targeted Painpoint:

The adoption of crypto is highly sociable, however due to people’s bad perception, crypto needs to be reintroduced in a trustworthly way.

RevoShop ::

A variety of physical “in-real-life “pop-up events to strengthen the global community of cryptocurrency.

The physcial aspect is highly important in terms of trust building, since crypto has a general association with online scams.

Customers can get walkthroughs and clarifications on RevoPay and crypto from the staff in RevoShop.

Access product catalog and direction of RevoShop events on the RevoPay app. Or get entry pass for exclusive events.

3.4

RevoBiz.

Grow Business with RevoBiz.

RevoBiz., supplies small businesses with various insights, designed specifically for managing transactions, receiving instant payment from customers, and creating unique “check-out links” that for particularly eCommerce usages.

Receive Payments

RevoBiz. enables businesses to receive payments by generating receiver’s QR code, which can be displayed on-ground. Consumers can make a payment easily by scanning it with RevoPay instead of entering the long address code from the merchant.

Check-out Links

Businesses can create check-out links for each individual product, coded with price and accepted currencies (coins), where consumers do not required to enter payment amount manually. Best use for online payment and eCommerce.

Useful Links

RevoBiz.

4.1

Appendix

6 min watch

Walk-through Video

A complete walk-through of the RevoPay and RevoBiz. interactive prototypes

8 min read

Project Summary

Research Summary, Concept Development, User Testing, Key Feature Showcase