Online Banking with Bitcoin
🤑 Have you ever imagined a world with digital currency?
01 | For What, You May Wonder
As you may have noticed, cryptocurrencies have become a popular investment for the average individual. We want to explore the possibilities of implementing Bitcoin with the traditional online banking platform by studying current cryptocurrency holders' perceptions of this emerging digital currency. We want to identify the wants and needs of these Bitcoin holders to understand their perceptions of this emerging digital currency and improve upon the existing online banking system, facilitating cryptocurrency transactions.
02 | User Research & Insights
We found that cryptocurrency investors are of a variety of different age groups, ethnicities, and locations but are primarily of high-income households. According to research conducted by the cryptocurrency exchange Gemini, the average household income for Bitcoin owners is $110k. So we chose to focus on holders with a household annual income over $75k because this group is representative of this population.
04 | ✍️ Sketches & Wireframes
"I have used Bitcoin as a payment method in the past, and I believe there is great potential for crypto to be a widely used currency in the market. "
- User #3
"Owning coins, gaining an incentive, and low fees are important to me when I look for a crypto platform."
05 | Design 💅 (finally)
06 | Usability Testing
We conducted think-aloud usability testing. Alongside the user testing, we were had two HCI professors - Dr. Bruce and Dr. Walker to provide heuristic evaluations feedback.
I present our key findings below.
07 | Retrospective
In this process, I learned not to be arrogant with my design ideas but to allow the users' feedback to be provocative. Reflecting on users' nonverbal reactions/feedback is important for iterative design and to better the interview. When a user takes a long time to respond to an interview question, it might not be a clear question, or the interview isn't structured in a way such that it gives users a chance to refresh their memories.
On a broader scope, I would criticize our design process for missing the value of inclusion and equity. We focused solely on Bitcoin users, who are a group of people that have enough financial stability to make risky investments. This is confirmed by our interviewees' demographics - all were at least college educated and 90% male. In other words, this is not a value-sensitive design.
Unfortunately, I think this problem is prevalent in most design projects. Because we, students earning a master's degree in product design at Georgia Tech, are limited in our life experiences and our connections. People live in their bubbles, and we are a bubble of technology-prone, college-degree-earned, financially-sufficient people trying to design a product UI that attracts a similar crowd.
We could've explored more on those who don't own Bitcoin but want to learn about Blockchain, those that can't afford to make risky investments but wish our product help them find alternatives. Those are missing.