This is the first product that I designed and built with the development team. However, after AppWorks funders' meeting, I noticed the limit of the first product. Therefore, I started a side project to review the product.

The report was made at the end of 2018, starting from other studies is an easy way to build up the knowledge system.
‍
1. More than 139 million users but only 38% are active.
2. More than 57% of service providers provide integrated services.
3. More than 84% of service providers provide multi-coin support.
4. Mining costs around 0.01% of world energy.
5. 69% of service providers have existing relationships with established traditional payment networks.

This map is trying to describe the users’ behavior of cycling their fiat-crypto-fiat in the blockchain. Follow this journey map and analyze their behavior.

People cannot live without fiat. However when they invest in blockchain but rarely use crypto. As a result, this cycle is suitable for describing people’s behavior.

Blockchain is still a high risk and complicated domain. Therefore I suggested the users who put over $33,000 (Taiwan’s PCI is $25,000) per year are our potential clients.

Following the purpose, understand the blockchain economic cycle deeply, the interview is qualitative research that explores wildly than quantitative research. Therefore the questions were based on the assumption with open-ended questions

• Find the private key management system
• Wait for the notification about blockchain state that they changed
• Check the address more than twice

• How the users manage their assets
• How deep do they know the blockchain
• Why do they use blockchain
• The behavior of using blockchain
• Review the prototype & blockchain

• Deposit 100 ETH to the App from an external wallet
• Convert 20 ETH to BTC in the App
• Withdraw 5 BTC back to the original wallet

Similar to those of human conversations, there is some non-verbal information such as body language…etc. Screen record helps me observe the hesitation, hidden intention from the user’s cursor.

• It’s a trusted business, so people still want to control their private keys or spend more resource on safety.
‍
• A lot of people get involved in the blockchain because of their job, they are willing to try the new tech, anticipating the risk would be higher than traditional domain.

• People investing in blockchain are looking forward to the future but they all understand it’s far from now.

• People don’t know the total technical details of crypto, so they are supposing some functions or features would possess the same definition in the reality, such as the one in the stock market.

Blockchain follows different logic which is unlike traditional finance. Some financial terms give misinformation to blockchain users. Hence, the product should invent new terms and explain the logic to users.

People use blockchain addresses to confirm the different accounts and it makes people feel they can control the system. However, Miller’s Law told us, it's definitely information overload. Therefore, to symbolize the blockchain address is necessary.

Symbolization Reduces Information OverloadBlockchain is built on code, most of the information is redundant with a decision. The product should translate this information for reducing users’ burden of recognition. However, the Hash data is still irreplaceable, because it provides trust.

Crypto management is all about trust, so every design has to be based on trust, transparency, and data disclosure. Blockchain application is still far from people’s experience, and a part of the behavior pattern is different from the reality. As a designer, that’s an opportunity to “define” instead of “follow” the previous design like other existing patterns.