Can social interaction lead to an increased knowledge and trust around cryptocurrency?
A UX Case Study by Melissa Glasser
Introduction
My first project as a UX Designer was to assist a startup called GhostPay with developing a mobile app using User Research, Feedback and Rapid Ideation /Prototyping. After tackling as a team the features of Sign In, Login, and Purchasing, I set out independently to develop a new feature that would meet user needs based on the findings of my research.
I learned through the company brief that Ghostpay distinguishes itself by giving users the choice of which cryptocurrency to use for transfer, deposit, purchase and storage. Protecting user anonymity and creating a simple and easy to use interface were also requirements. Additionally, Ghostpay aims to rid the negative stigma associated with digital currency all the while emphasizing and protecting user anonymity. I formulated a research plan with a hunch about the direction I should go.
Trust in cryptocurrency and greater use of a digital wallet such as Ghostpay can be cultivated by the addition of social interaction on the platform. Hypothesis v1.0
Research
Research Plan, Mapping, Interviews, Competitive Analysis and Hypothesis
Like many, I knew very little about cryptocurrency so my earliest work was in familiarizing myself with history, trends and some current general thought. I created a research plan to learn more about users following my original hypothesis.
Research Plan:
- 15 interviews -5 were on the street and 10 were with people I knew.
- Audience: Any potential Ghostpay user
- Location: Metro Washington DC Region
- Methods: User Interviews, Mapping, Competitive Analysis, Synthesis
- Schedule: Interviews 6/11/19–6/12/19
- Outcomes: Trends, User Insights and Challenges; determine if potential app users would enjoy a social engagement feature and if this could increase site use and build trust in cryptocurrency.
Interview Questions:
1. What do you enjoy most about social interaction?
2. What are your habits using social networking apps and specialized online communities?
3. Who do you talk about money management with?
4. If you had access to an experienced network, what would you want to learn about wealth management?
5. Have you ever bought, traded or used cryptocurrency to buy something else? If no, what are the barriers?
63% were 25–35 years old
13% were 35–45 years old
19% were 45–55 years old
6% were 55–75 years old
100% described multiple benefits of social interaction.
80% of users already communicate with their social networks and specialized online content communities about wealth management.
93% described a lack of knowledge and trust barriers to cryptocurrency use.
“The benefits are you seeing some of the commonalities we all face as well as when people are doing well, you can cheer them on. And if they need help or support, we use that venue as well. It builds camaraderie”–Future Ghostpay User, June 2019 On the topic of the benefits of social interaction and online community
“I recently joined a peer group of others trying to learn the basics: how someone with my status can start to invest, take advantage of stocks and prepare to invest in real estate.”-Future Ghostpay User, June 2019 On the topic of the benefits of social interaction and online community
Synthesis
Affinity Map, User Persona, Strategy, Approach
As an ideas and people person, I really enjoyed the synthesis stage of the design process for it allowed me to spend time connecting to the users. I used sketching, empathy-topic and affinity maps, and storyboards to help connect the dots from my original hypothesis to a strategy and approach. User research revealed that a social feature alone was not enough. I moved away from social network models and looked to specialized online content community discussion pages.
Meet the User
Age:Late 20’s -30’s
Gender: M/F/Non-Binary
Education Level: College educated or self-taught through experience
Social Network: Deep peer and family network. Often times wealth management was not taught at home.
Goals: Financial independence & prosperity, important benchmarks like owning over renting home
Mindset: Openminded to new ideas but not reckless, needs to be well informed before making important decisions; ethics, politics and culture are important as well as trust; willing to sacrifice and work hard
Problem Statement: Jay wants to build his financial wealth and is willing to explore new ideas like cryptocurrency but he lacks trustworthy information and advice.
Hypothesis v2.0:By creating a specialized online content network feature, the Hive Page, we can help Jay overcome a barrier to entry and learn about Cryptocurrency with no risk. Via the Hive, he watches trends and learns from an experienced network and his peers, with whom Jay is connected. Transparent information sharing allows Jay to build trust in the process and facilitates his point of entry/ease of use. This increases overall application use which in turn stabilizes the currencies and wealth is increased for the Jay and his network.
Design
User Flows, Paper Prototypes and Clickable Prototypes
In order to realize the Hive feature, I created user flows, paper wireflows, wireframes and prototypes followed by clickable prototypes produced in Balsmiq. Continued usability testing at each of the prototyping stages revealed that I needed to revisit my user flows for a more seamless site architecture. I created Sign In, Log In, Purchasing and Hive Discussion Pages with more user tests along the way. These pointed to a need for a better understanding of specialized online content forums. I revised my prototype so that the interface would be more in line with expectations of my users.
Summary and Next Steps
In summary, research, low fidelity designs and user tests indicate that Ghostpay will take another step closer to meeting its goals if it incorporates a social engagement/specialized content forum feature like the Hive. Users like Jay will use the Hive to build their trust in crypto, build their knowledge around wealth management and ultimately meet their goals for greater prosperity. We will need to continue to work together to learn how specialized content interactions can work best within the app and talk to more users to test how we’re doing.
