The Important Role of Design in Blockchain Products in 2023

By Sam

Blockchain projects often discuss their backend technology and the implicit security and privacy benefits that are so crucial in this industry. Design is often overlooked in the blockchain equation, and product owners suffer the consequences. We mean UX design, branding, and product design when we refer to design in the Blockchain. All of these elements are essential for the success of any Blockchain Designers product. This blog post will highlight the many benefits of paying attention from the beginning to each of these areas and show a few recent projects to illustrate.

​Blockchain and UX - A powerful relationship

Although Blockchain's UX experience is still relatively new, it's one where huge advances are already being made. UX designers are eager to improve a few areas of Blockchain. Below, we will walk you through them.

​What are the most important issues to address?

1. Blockchain jargon

Perhaps your target user is a blockchain expert who knows the meaning of terms like dApps and smart contracts. You don't need to worry about them finding their way around your app or website. They will figure out what they need. With blockchain usage growing globally, there are high chances that you will want to expand your market and appeal more to users who are just starting to get into the industry. They may have heard it is worth investing in BitCoin but aren't sure how.

This is your opportunity to reach them with great UX. Instead of focusing on technology, you should focus on the user and their potential values.

In other words, you don't need to talk about "signed transitions"; instead, inform your user that they will be paid securely. You can mention "smart contracts" to explain that payments will be made instantly and automatically. Your user experience will be smoother if you don't use jargon, and your customer retention rate will increase.

Decentralized ML network case study (In stealth mode)

Our client is creating an open-access, tokenized, decentralized machine-learning network for smart infrastructure built around a decentralized digital twins economy.

Coder. Dev was assigned to complete the website redesign and will, in the future, also work on the mobile app for the same client.

We created high-quality, user-friendly blockchain designs. We focused on making the language easy to understand for the main users. It was well received; we are happy to report.

2. Onboarding to wallets DApps and Markets

The importance of an efficient onboarding process is also a key point. We wrote about this process in fintech years ago. The same holds for Blockchain. The client onboarding process is crucial for any business and can either make or break your product.

Deloitte reports that 38% of new customers will abandon their onboarding process if they feel it is too complicated or requires more information than they are willing to share. At least 26% feel that login and easy enrolment are the most important criteria in deciding who they will bank with.

What are the most important things to remember about a blockchain onboarding procedure for a wallet or DApp?

  • Keep it short - You want to make your onboarding process as simple as possible while still ensuring that you meet all security requirements.
  • Use the correct terminology to reach your audience. As mentioned above, taking the time to get to know your audience and to conduct user testing to determine the language that will appeal to them is important.
  • Please explain each step. - KYC (know your customer) requirements will require you to have both I.D. Facial recognition and verification. Explain to your users clearly what you require from them at each stage. Don't give an 'error message' if things go wrong. Instead, be solution-driven and explain why the problem occurred and how the user can fix it.
  • Do not present too many options at once. While giving your users every option may be tempting, they will get confused and disoriented. Start with one or two options at the beginning, then add others as needed.

3. Transforming trust into clarity

The blockchain market is difficult, as we have already mentioned. Therefore, trust and clarity are key. This includes using understandable language and creating an easy-to-use onboarding process. Your website and app user interface should be similar to a bank product.

Users with no technical knowledge will find it easy to use the simple design they already know from previous financial products. If in doubt, aim for simplicity. This will set you apart from the competition.

4. Speed up transaction speeds

Transactions have become faster as technology advances. However, there are still concerns about slow transaction speeds.

According to Deloitte Insights, blockchain-based systems can be comparatively slow. Enterprises that rely on legacy high-performance transaction processing systems are concerned about Blockchain's slow transaction speeds.

Let's take a look at a comparison: Visa handles around 1,700 transactions per minute on average. This compares to only 4.6 transactions per minute for Bitcoin. There will be overlap among users of both platforms, and the same users will be accustomed to not waiting.

This is where the two-fold solution comes in. Your users must be aware that there will be some waiting. Including a progress bar to manage expectations would be a great idea. Several Nano-like blockchain technology technologies can speed up transactions (around 5 seconds) without fees if you want to address the root cause. EOS, Stellar Lumens, and Ripple all have the same benchmarks that might rival Visa. Transaction speed should be something you consider.

Crescent case study

Crescent is revolutionizing the way that clients invest in cryptocurrency. Crescent's mobile app allows clients to invest in crypto index funds and personalized robot investing, allowing them to build a diverse portfolio.

By closely working with Crescent's CEO, Coder. Dev helped Crescent develop their idea into a complete design flow and a Mobile MVP for Android & iOS. Our primary goal was to help Crescent receive its next funding and grow its business. Creating great UX/UI was key to securing this funding.

​Blockchain and Brand Design: Make a Statement

Another area that blockchain products often neglect to consider is branding. It shouldn't. Effective branding will make you stand out among the rest. Your brand is your reputation and what you stand behind.

In 2020, the global blockchain technology market was worth USD 3.67 billion. The market is expected to grow at a compound annual growth rate (CAGR) of 82.4% between 2021 and 2028. If you are a new player in the market, it is important to let potential customers know about your company.

You can read more about branding here. But below are our top tips for branding your blockchain product.

Your visual identity is essential - You need to be instantly identifiable in a highly saturated market. This can be achieved by taking the time to research both the market trends and your target audience. You might consider creating personas for the people you want to appeal to. Work with top creatives to build your brand identity. This includes a logo and accompanying imagery.

Trust is key - Many users remain skeptical about Blockchain. Customers and investors expect more from dedicated blockchain designers . Companies than just a clever name for a coin and a social network media presence. Trust and security are essential, so they should be reflected in your brand's values, vision, and visual representations.

Tell a story: Blockchain is a very dry market. A brand story can help you bring humanity to the technology. Describe why you got started, how you got there and where you see yourself in five years. Begin the journey with your customers and prospects.

Graphics can be used to explain complicated ideas. Blockchain technology is complex, but so is your brand. It is important to have a visual system that is well-designed and easy for users to comprehend. It will make your customers more engaged with your product and increase their likelihood of returning for more.

​Case Study - In stealth mode, a crypto finance service provider

Our client is a crypto finance service provider that integrates crypto assets. It helps clients gain liquidity, manage risk, and earn yield. Its mission is to maximize long-term value through investment flexibility and maximizing returns.

Coder. Dev was responsible for the company's branding as well as product design. We also created a pitch deck for collateral that could be used in sales and marketing.

Three members of our creative team took on the task of creating sub-product branding that was consistent with the core product but not identical. The branding was instantly recognizable and well executed and received positive feedback.

​Quality design is a must-have from the start. Later, you will reap the benefits.

These points should have made it clear that not paying attention from the beginning to UX/product design can lead to many usability problems later on and ultimately cost you, customers. You could also lose your customers if you don't consider your brand. You'll reap the benefits of a well-designed, easy-to-use, and instantly recognizable product. This will increase your chances of long-term success with artificial intelligence.

Although Top Blockchain Designers technology may seem complex, its core concept is quite simple. A database is a sort of blockchain. Understanding the basics of databases is important before you can understand the technology.

A database is an electronic collection of information stored on a computer system. Databases are usually structured in a table format for easier search and filtering.

Blockchain is different from other databases in how it stores information. Blockchains store data in blocks which are then chained together. Each block has a certain storage capacity and is then chained to the previously filled block. This creates a "blockchain" of data that contains all new information. Once filled, the newly formed block will also be added to the chain. These data are arranged in chronological order.

Blockchain databases are distributed in nature, meaning multiple parties can have copies of the ledger. Peer-to-peer networks). Each node in a blockchain has a complete record of all data stored since it was created (this is done using timestamps, which are based on hash-based proofs of work). A node can refer to thousands of other nodes if it makes an error in its data. In this way, information within the network is not altered by any one node. This system allows for a transparent and exact order of events. It can be used decentralized so that no one person or group has any control. Instead, all users have the same control. Blockchain technologies are trustworthy, secure, and technologically innovation center They also have transparency and immutability. Blockchain technology uses cryptographic hash functions as well as asymmetric encryption. This uses a mathematically related pair (public and private keys) to decrypt and encrypt data. The public key can be used to decrypt (read -- get/access), but the private key can also be used to decrypt (read -- receive/access).

​What is the value of Blockchain, and how can it help?

Blockchain's key advantages include cryptographic security and decentralization, transparency, and immutability. Blockchain technology allows information to be verified and value traded without needing a third-party authority.

Blockchain doesn't have to be a disintermediator to create value. Existing institutions can capture the benefits of blockchain technology and multiparty transactions to reduce transaction complexity and costs. Blockchain technology is not limited to a single form. It can be used in many ways to achieve specific use cases' business objectives and requirements.

Cryptocurrencies are the most wide range studied and used blockchain application. Bitcoin, created by Satoshi Nagamoto in 2009 and is the most traded cryptocurrency, was one of the most popular applications of blockchain technology. Blockchain technology is more than just cryptocurrency and the financial industry.

McKinsey categorizes blockchain use into five main categories.

  • Static Registry: Distributed database for storing reference information
  • Identity: A distributed database containing identity-related information (it's an example of a static registry with a large number of applications).
  • Smart contracts: A set of predefined conditions that are recorded on a blockchain and trigger automated, self-executing actions if these conditions are met.
  • Dynamic registry: A dynamic distributed database updated as assets are traded on the platform.
  • Payment infrastructure: Dynamic distributed database updated as participants make cash or cryptocurrency payments.

Read More : Implementing Blockchain Technology in Project Management a Challenge?

​What are the different uses of Blockchain in public and private organizations?

McKinsey has broken down each category based on specific industries or functions.

​Supply Chain Administration

The immutable ledger in blockchain technology makes the system ideal for tasks like tracking items in real time as they move through the supply chain. When employing a blockchain, businesses that transport these commodities have a lot of possibilities. The entries of a blockchain can be utilised in a supply chain to establish a queue and allocate items to various shipping containers. Blockchain is a dynamic way to arrange and use tracking data.

  • Food industry

IBM and Walmart, for example, have collaborated in China to develop a blockchain project that will ensure food safety. Louis Dreyfus Co is also experimenting with blockchain-based soybean import operations.

  • Shipping industry

Another example is Maersk, a logistics giant that experimented with blockchain-based projects in the maritime logistics sector.

  • Mining industry

The De Beers Group is using blockchain to track diamond importation and sales in the mining industry.

  • Inventory management

Russian railway operator Novotrans uses blockchain technology to store inventory data. This includes information about rolling stock and repair requests.

​Healthcare

Blockchain can link connected medical devices to the person's health records as they become more common. The data generated by a healthcare blockchain can be stored on devices and attached to medical records.

MedRec is one of the pioneering projects that experiment with blockchain data storage.

​Government

Blockchain is a versatile technology used in the public sector to improve transparency and efficiency in government operations.

  • Voting

Blockchain technology can make voting easier and more secure. Blockchain technology is immune to hackers. Even if someone gained access to the terminal, they would not be able to affect any other nodes. Each vote would be assigned to a single I.D. This is especially useful for transparent and fair elections.

A blockchain project led by Sport facilitates voter registration in Switzerland.

  • Taxation

With enough information stored on the Blockchain, blockchain tech makes tax filing less cumbersome and more human-prone.

One example is China's tax-based initiative that uses Blockchain to store tax records, electronic invoices, and other information.

  • National Security

A blockchain is a great tool for big data storage due to its immutability and the fact that each computer on the network verifies the information.

For example, the U.S. Department of Homeland Security has used Blockchain over the past two years to safely store and record data from its security cameras.

​Insurance

Blockchain-based smart contracts are used in the insurance industry to allow customers and insurers to secure and transparently manage claims. The Blockchain can store all claims and contracts. It also validates them by the network. This eliminates invalid claims.

International American Group Inc., for example, uses smart contact-based Blockchain to reduce costs and increase transparency.

​Energie

Blockchain technology could be used for energy supply transactions. It also provides the basis for billing, metering, and clearing. Other possible applications include ownership documentation, asset management, and origin guarantees.

Chile is one example. The National Energy Commission of Chile is trying to upgrade its electrical infrastructure. It has begun to use blockchain technology to certify data about energy consumption.

The Energy Web Decentralized Operating System is another example. It's an open-source stack with decentralized software and standards, including the Energy Web Chain, middleware service, and software development toolkits. EW-DOS, a shared technology, runs on a network maintained by many well-respected energy companies. EW-DOS supports two main use cases. One is clean energy and carbon emission traceability. Two, using distributed energy resources for grid flexibility. EW-DOS uses self-sovereign, decentralized identifiers and several messaging services and integrations with legacy I.T. systems (I.T.) to facilitate transactions between billions in assets, customers grid operators, service providers and retailers.

​Real Estate

Average homeowners sell their homes once every five years. Blockchain is especially useful in the real estate market because of its frequent movement. It makes home sales easier by quickly verifying finances and reducing fraud through encryption. Additionally, it offers transparency throughout the selling and buying process.

Property in Kyiv, for example, uses Blockchain to close real estate deals.

​Payments

Blockchain is a secure and efficient way to create a log that can be tampered with sensitive activity. This is especially relevant for international money transfers and payments.

Banco Santander's money transfer service "Santander One Pay F.X." uses Ripple's xCurrent for customers to make international money transfers the same day or the next day. Japanese banks stole Ripple's blockchain ledger. They will use it to make mobile payments quickly.

​Environment

  • Conservation of endangered species

A blockchain project can facilitate the protection of endangered species in the environment sector. It records the activities and transactions of these rare animals.

The Newton Project is one example. Newton uses new sensor technology, a small IoT device that monitors the temperature, air quality, and humidity. The data is then uploaded to NewChain (Newton's Blockchain). It is possible to track an endangered mammal's location and basic behaviour by placing a NewSensor underneath its skin, such as a rhinoceros or elephant.

  • Fishing

A transparent record of the location of fish caught is one application to fishing. This allows for legal landing.

To collect information about the tuna's journey at different points in the supply chain, the WWF uses radio-frequency identification (RFID) tags, quick reaction (Q.R. code tags), and scanning devices.

  • Carbon offset

Another environmental application of blockchain technology is the monitoring of carbon offset trading.

IBM, for example, uses the Hyperledger Fabric blockchain to monitor carbon offset trading in China.

  • Waste Management

Waltonchain uses RFID technology in China to store waste management data.

​Record Management

Because it prevents duplicates and fraudulent entries, the central encryption in Blockchain makes it very useful for record management.

  • Land Registry

The land registry can benefit from record management. In Georgia, for example, the National Agency of Public Registry has developed a project that stores land registry titles on the Blockchain.

  • Control of the border

Essentially, a Dutch border control system has created a blockchain-based system that allows customs agents in the Netherlands to safely store and record passenger data using a variety of inputs.

​Blockchain as a Service

Blockchain technology can also be used to benefit enterprises by enabling them to develop models that offer blockchain-as-a-service solutions.Microsoft Azure allows you to access the Ethereum blockchain as a cloud-based service.

Google is also building its Blockchain. It will be integrated into cloud-based services. Businesses can store data there and request a white-label version from Alphabet Inc.Blockchain could catalyze one of the most significant paradigm shifts in business history. We can rewire processes and operations around the virtual world over the next decade.

Blockchain technology is still a new frontier. As blockchain technology becomes more accepted and mainstream, it generates huge interest. Crypto, bitcoin, and Blockchain have become more common words in the conversation, which has sparked increased interest and FOMO. The hourly rate for a blockchain designers cost can range from $35-$150, and it will depend on your client's requirements.

It has also led to an explosion of innovation in the design and development process for new applications.

​How can we design complex systems like these?

Four principles are essential to our organization's blockchain application design:

  1. Exposure

Many users find it difficult to replace established systems and processes with a BlackBox, especially when they are involved in the movement of large assets. Many people would like to see and comprehend how blockchain technology replaces old processes.

To build trust in the technology, users must understand how it works. We want to help users understand Blockchain and how it can improve their processes, such as data visibility, audit trails, and provenance.

Here are some examples of how this principle is applied:

  1. Interactive timelines that show the transformation of entities during the process
  2. Summary blockchain information made available to the user
  3. Interactive dashboards and visualizations give users a clear and concise view of all their assets and processes.

2. Design systems ensure consistency.

We put a lot into the visual design system because many entities interact with various statuses and documents along supply chains. With the integration of information into the Blockchain, visual identity and status are essential to user usability. Empowering the user without making it difficult for them to complete their tasks is important.

The user experience should be consistent across products. This includes the overall layout of the apps, icons, and typography used to create the user interface.

Common design patterns can reduce the learning curve for users. The consistent design makes it easier for users to use. It facilitates learning, especially with new technologies such as Blockchain.

Here are some examples of how this principle is applied

  1. InVision Design System Manager allows you to create a single source of truth.
  2. Visual code to identify different entities and statuses in our applications
  3. Reusable interaction models to support core actions

3. Communication

Although many blockchain applications look similar to well-known technology solutions, there are often significant differences. Many different types of users can use our platform at different stages. This is why we approach our work with this understanding.

Some users are extremely analytical and technical and seek fine-grained details. Others have more simple tasks.

It is crucial to understand our users, especially when operating cross-border. It is important that the language used in applications be concise and consistent with the natural communication patterns of the users.

Blockchain is a distributed concept. Therefore, it is important to design user interfaces that allow internationalization.

Here are some examples of how this principle is applied:

  1. Global user mindset. We must remember that our products are used all over the globe, so this must be a constant focus throughout the design process.
  2. Create clear user personas that reflect their knowledge of the subject and their level of interaction with the product.
  3. To find out how to build smarter apps, we ask: "How can we assist the user in carrying out their tasks more efficiently?

4. Trust

It is essential when dealing with sensitive data. The applications must be trusted, reliable, and stable by users. This can be achieved through data exposure, consistency, feedback, and active guidance. This is achieved by providing clear feedback and active guidance to the user throughout the task.

Here are some examples of how this principle is applied:

  1. There are no assumptions regarding making it clear to users what they have done and are about to do. This is particularly important for financial trading applications.
  2. Design onboarding in the product
  3. Make sure everyone is aware of the current security model.

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​Concluding note for service designers

It is a challenging task to design user interfaces for blockchain-based applications. It is a challenging task and a new experience to design user interfaces for applications that leverage blockchain technology.

This article explains the basics of blockchain technology. It also gives examples of how it can be used in various service industries. As service designers, one of our roles is to create new business models, processes, and infrastructures that will help stakeholders to exchange value and reach their goals in more mutually advantageous ways. We are also responsible for anticipating potential threats to blockchain-based products, systems, and services. We must understand the technology and its potential uses. I hope I was able to inspire you to find out more about one of the most promising technologies over the past decade.

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