Newron

Designing for Trust: Integrating security, compliance and inclusivity for a blockchain app

Designing for Trust: Integrating security, compliance and inclusivity for a blockchain app

Product Design

FinTech

Blockchain

project Background

project Background

Overview

Overview

For this project, I led the UX design for the Newron app integrating social trust with financial transactions.


My work involved conducting background research, developing feature ideas and executing the design in Figma in collaboration with Product Managers, Strategists and

For this project, I led the UX design for the Newron app integrating social trust with financial transactions.


My work involved conducting background research, developing feature ideas and executing the design in Figma in collaboration with Product Managers, Strategists and

For this project, I led the UX design for the Newron app integrating social trust with financial transactions.


My work involved conducting background research, developing feature ideas and executing the design in Figma in collaboration with Product Managers, Strategists and

Role

Role

Product Design

Product Design

Research

Research

Prototyping

Prototyping

Outcome

Outcome

App MVP

App MVP

Team

Team

Design Lead

Design Lead

Product Owner

Product Owner

Strategist

Strategist

Type

Type

Client Project

Client Project

Newron is a platform that merges social trust with financial transactions, much like combining WhatsApp with a credit bureau. It enables users to lend and borrow in a secure, decentralized environment.


The objective of this project was to simplify blockchain technology and make it approachable for everyone.

Newron is a platform that merges social trust with financial transactions, much like combining WhatsApp with a credit bureau. It enables users to lend and borrow in a secure, decentralized environment.


The objective of this project was to simplify blockchain technology and make it approachable for everyone.

uncovering the problem

uncovering the problem

Would you lend or borrow money from a stranger on the internet?

Would you lend or borrow money from a stranger on the internet?

Trust is a cornerstone of the decentralized finance (DeFi) landscape, influencing adoption and confidence among users and institutions

Trust is a cornerstone of the decentralized finance (DeFi) landscape, influencing adoption and confidence among users and institutions

89%

institutions and people worry about uncertain regulations for DeFi

institutions and people worry about uncertain regulations for DeFi

87%

are concerned about the lack of trusted players in the DeFi space

are concerned about the lack of trusted players in the DeFi space

Why are users hesitant to get into DeFi?

Why are users hesitant to get into DeFi?

01

01

Anonymity

Anonymity

The anonymous nature of DeFi can make it challenging to verify the identities of individuals and entities, increasing the risk of fraud.

The anonymous nature of DeFi can make it challenging to verify the identities of individuals and entities, increasing the risk of fraud.

02

02

Consumer Protections

Consumer Protections

Compared to traditional banking, DeFi offers limited consumer protections and remedies, which can deter potential users.

Compared to traditional banking, DeFi offers limited consumer protections and remedies, which can deter potential users.

03

03

Lack of Restrictions

Lack of Restrictions

DeFi operates with minimal guidelines on user eligibility, raising concerns about accountability.

DeFi operates with minimal guidelines on user eligibility, raising concerns about accountability.

Research & Benchmarking

The design process for Newron began with in-depth benchmarking and research. I analyzed leading DeFi and blockchain platforms to understand industry standards and best practices.

Due to privacy constraints and scope limitations, I conducted informal research through exploring existing DeFi apps, peer feedback, and real-world observations.

Problem Statement

How might we increase trust and security to reduce user hesitation of entering the DeFi space?

design interventions

Solution

Solution

Newron strived to gain users’ trust, comply with regulatory needs and being inclusive of novice and experienced groups

Newron strived to gain users’ trust, comply with regulatory needs and being inclusive of novice and experienced groups

Here’s how we solved for each of them

Here’s how we solved for each of them

01

01

01

Security

Security

Implementing secure verification procedures to prevent fraud

Implementing secure verification procedures to prevent fraud

Implementing secure verification procedures to prevent fraud

02

02

02

Trust

Trust

Leveraging social capital to build trust

Leveraging social capital to build trust

Leveraging social capital to build trust

03

03

03

Reducing hesitation

Reducing hesitation

Educating users to reduce inertia and empower users to take control of their financial journey

Educating users to reduce inertia and empower users to take control of their financial journey

Educating users to reduce inertia and empower users to take control of their financial journey

Security

Two-step verification process with multiple document options

Trust

Transparency in Trust Scores and Ranks

Reducing Hesitation

Resources to understand Newron better

01

01

Security

Security

Implementing identity verification procedures can help build trust in DeFi.

Implementing identity verification procedures can help build trust in DeFi.

KYC integrated with blockchain technology provides a secure way to manage user identities while maintaining decentralization.

KYC integrated with blockchain technology provides a secure way to manage user identities while maintaining decentralization.

Ensuring secure and efficient user verification is a top priority for Newron. Here’s how the KYC process works:

Ensuring secure and efficient user verification is a top priority for Newron. Here’s how the KYC process works:

By only requiring a phone and a physical ID, Newron simplifies the verification process, reducing drop-offs during onboarding.

Once verification is complete, users gain full access to transact on Newron.

02

Trust

To enhance security and build credibility, Newron introduces the Trust Network—a social trust system that goes beyond traditional KYC verification.

The Trust Network is a ranking system where the credibility of a person or entity is based on a trust score

A trust score is built over time through interactions and transactions with other users. Unlike IDs or documents, trust scores are difficult to fake, adding an extra layer of security.

Each user's profile displays a cumulative trust score, averaging the trust they've built across their network.


This gives a quick, approximate summary of their credibility.

The trust score comprises the ratings given and received by the user

The trust score comprises the ratings given and received by the user

Vouching for good borrowers contributes to a higher trust score

Vouching for good borrowers contributes to a higher trust score

03

Education

Understanding the impact of a trust score on the Newron experience is crucial, so we dedicated a section to educating users about Newron and DeFi concepts.

Emphasizing the value and impact of the trust score helps users see its importance.

Providing clear information, we aim to reduce hesitation and empower users to take control of their financial journey.

At its core, Newron strives to increase inclusivity in the DeFi space, and educating users is a key part of bridging that gap.

CONCLUSION

Project outcome

Project outcome

By tackling the complexities of DeFi and prioritizing user trust and security, we crafted a platform that makes blockchain technology accessible to everyone.

Although the Newron app wasn't launched during my time on the project, the groundwork we laid through careful research and thoughtful design has set a strong foundation for its future success.

01

01

01

Effective Onboarding

Effective Onboarding

Effective Onboarding

Tutorials and educational resources helped new users quickly understand blockchain concepts, making the onboarding process smoother and more engaging.

Tutorials and educational resources helped new users quickly understand blockchain concepts, making the onboarding process smoother and more engaging.

Tutorials and educational resources helped new users quickly understand blockchain concepts, making the onboarding process smoother and more engaging.

02

02

02

Building Trust

Building Trust

Building Trust

Transparent interfaces and strong security features helped users feel confident and secure while using the platform

Transparent interfaces and strong security features helped users feel confident and secure while using the platform

Transparent interfaces and strong security features helped users feel confident and secure while using the platform

03

03

03

Simplified Processes

Simplified Processes

Simplified Processes

Streamlined transaction processes made it easy for users to get verified, tokenize assets, lend, and borrow, aiming to enhance overall user satisfaction.

Streamlined transaction processes made it easy for users to get verified, tokenize assets, lend, and borrow, aiming to enhance overall user satisfaction.

Streamlined transaction processes made it easy for users to get verified, tokenize assets, lend, and borrow, aiming to enhance overall user satisfaction.

Reflection and personal growth

Key Achievements

As the sole designer, I navigated the complex blockchain and DeFi domain, successfully creating a user-friendly platform that integrates social trust with financial transactions.

Adaptability and Creativity

I adapted to a non-linear UX process, demonstrating flexibility and creative problem-solving. This approach enabled me to effectively address the unique challenges of the project.

Leadership and Ownership

Taking full ownership of the design process, I was responsible for every aspect of product design, from ideation to implementation. This role honed my skills in presenting design concepts persuasively and ensuring stakeholder alignment.

Thanks for reading!

If you like what you see, get in touch!

Thanks for reading!

If you like what you see, get in touch!

Thanks for reading!

If you like what you see, get in touch!

Thanks for reading!

If you like what you see, get in touch!

Newron

Designing for Trust: Integrating security, compliance and inclusivity for a blockchain app

Product Design

FinTech

Blockchain

Newron is a platform that merges social trust with financial transactions, much like combining WhatsApp with a credit bureau. It enables users to lend and borrow in a secure, decentralized environment.

The objective of this project was to simplify blockchain technology and make it approachable for everyone.

project Background

Overview

For this project, I led the UX design for the Newron app integrating social trust with financial transactions.

My work involved simplifying complex concepts, creating intuitive user interfaces, and building trust through secure and transparent design.

Role

Product Design

Research

Prototyping

Outcome

App MVP

Team

Design Lead

Product Owner

Strategist

Type

Client Project

uncovering the problem

Would you lend or borrow money from a stranger on the internet?

Trust is a cornerstone of the decentralized finance (DeFi) landscape, influencing adoption and confidence among users and institutions

89%

institutions and people worry about uncertain regulations for DeFi

87%

are concerned about the lack of trusted players in the DeFi space

Why are users hesitant to get into DeFi?

01

Anonymity

The anonymous nature of DeFi can make it challenging to verify the identities of individuals and entities, increasing the risk of fraud.

02

Consumer Protections

Compared to traditional banking, DeFi offers limited consumer protections and remedies, which can deter potential users.

03

Lack of Restrictions

DeFi operates with minimal guidelines on user eligibility, raising concerns about accountability.

Research & Benchmarking

The design process for Newron began with in-depth benchmarking and research. I analyzed leading DeFi and blockchain platforms to understand industry standards and best practices.

Due to privacy constraints and scope limitations, I conducted informal research through exploring existing DeFi apps, peer feedback, and real-world observations.

Problem Statement

How might we increase trust and security to reduce user hesitation of entering the DeFi space?

design interventions

Solution

Newron strived to gain users’ trust, comply with regulatory needs and being inclusive of novice and experienced groups

Here’s how we solved for each of them

01

Security

Implementing secure verification procedures to prevent fraud

02

Trust

Leveraging social capital to build trust

03

Reducing hesitation

Educating users to reduce inertia and empower users to take control of their financial journey

Security

Verify your account

Enter PAN Details

Verify your account in X minutes

STEP 1 / 4

Next

Enter 10-digit PAN

Two-step verification process with multiple document options

Trust

Adithya

Shankar

TRUST Rank

1.9

FIND People you may know

Add more people and increase your trustscore

Add

Rahul Mehta

Trust Rank : 2.9

Add

Rahul Mehta

Trust Rank : 2.9

Add

Rahul Mehta

Trust Rank : 2.9

Add

Rahul Mehta

Trust Score : 2.9

NEW CONNECTIONS

300

Connections

You have 3 new requests!

Transparency in Trust Scores and Ranks

Reducing Hesitation

All

Trust Rank

Tokens

Blockchain

Topic 1

55

55

5 ways to increase your trust score

by John Smith

Feb 13, 2022

Trending

55

How to build a strong trust score

by John Smith

Feb 13, 2022

55

How to build a strong trust score

by John Smith

Feb 13, 2022

Home

Network

Wallet

Learn

Guides and resources for users to dig deeper into the functioning of the Newron ecosystem.

01

Security

Implementing identity verification procedures can help build trust in DeFi.

KYC integrated with blockchain technology provides a secure way to manage user identities while maintaining decentralization.

Ensuring secure and efficient user verification is a top priority for Newron. Here’s how the KYC process works:

Verify Account

Enter PAN number

Take a selfie with PAN Card

Upload Aadhaar

Enter Passport number

Enter Voter ID number

Take a selfie with Aadhaar

Take a selfie with your passport

Take a selfie with your Voter ID card

Verification in process

Do you have an Aadhaar card?

Aadhaar is a 12-digit unique identity number that can be obtained voluntarily by all residents of India

The user is informed once their documents have been approved.

PAN (Permanent Account Number): This unique identifier, issued by the Income Tax Department of India, is a primary requirement for verification.

By only requiring a phone and a physical ID, Newron simplifies the verification process, reducing drop-offs during onboarding.

Once verification is complete, users gain full access to transact on Newron.

Verify your account

Enter PAN Details

Verify your account in X minutes

STEP 1 / 4

Next

Enter 10-digit PAN

Verify your account

Enter PAN Details

Verify your account in X minutes

STEP 1 / 4

Next

Enter 10-digit PAN

03

Education

Understanding the impact of a trust score on the Newron experience is crucial, so we dedicated a section to educating users about Newron and DeFi concepts.

All

Trust Rank

Tokens

Blockchain

Topic 1

Search

55

55

5 ways to increase your trust score

by John Smith

Feb 13, 2022

Trending

55

How to build a strong trust score

by John Smith

Feb 13, 2022

55

How to build a strong trust score

by John Smith

Feb 13, 2022

Home

Network

Wallet

Learn

Emphasizing the value and impact of the trust score helps users see its importance.

What is a Trust Score?

Newron has introduced a mechanism to leverage your real world relationships (social capital) now to act as your financial backing.

Now, even people with thin credit scores can use their social capital to start building a robust financial history.

The application of trust score goes above and beyond this simple example and people can modify the basic framework to come up with multiple advanced solutions as well.

2. What affects your Trust Score?

Good behaviour on chain such as paying the loans/interests on time, vouching for good borrowers, etc. would be rewarded and bad behaviour such as defaulting on loans/interests, backing irresponsible borrowers would be punished by the system.

Now, even people with thin credit scores can use their social capital to start building a robust financial history

The application of trust score goes above and beyond this simple example and people can modify the basic framework to come up with multiple advanced solutions as well.

3. How can I check my trust score?

There's the cumulative trust score displayed on each person's profile that averages our the trust score they have built across their network to give an approximqte summary.

You can also check your individual connection trust scores through the relevant section

Also the path connecting you to any other person along with the relevant trust scores can be seen through the relevant section

How to build a strong

trust score?

All you need to know about Newron’s unique trust ranking system

TRUST SCORES

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Blog

Providing clear information, we aim to reduce hesitation and empower users to take control of their financial journey.

At its core, Newron strives to increase inclusivity in the DeFi space, and educating users is a key part of bridging that gap.

CONCLUSION

Project outcome

By tackling the complexities of DeFi and prioritizing user trust and security, we crafted a platform that makes blockchain technology accessible to everyone.

Although the Newron app wasn't launched during my time on the project, the groundwork we laid through careful research and thoughtful design has set a strong foundation for its future success.

01

Effective Onboarding

Tutorials and educational resources helped new users quickly understand blockchain concepts, making the onboarding process smoother and more engaging.

02

Building Trust

Transparent interfaces and strong security features helped users feel confident and secure while using the platform

03

Simplified Processes

Streamlined transaction processes made it easy for users to get verified, tokenize assets, lend, and borrow, aiming to enhance overall user satisfaction.

Reflection and personal growth

Key Achievements

As the sole designer, I navigated the complex blockchain and DeFi domain, successfully creating a user-friendly platform that integrates social trust with financial transactions.

Adaptability and Creativity

I adapted to a non-linear UX process, demonstrating flexibility and creative problem-solving. This approach enabled me to effectively address the unique challenges of the project.

Leadership and Ownership

Taking full ownership of the design process, I was responsible for every aspect of product design, from ideation to implementation. This role honed my skills in presenting design concepts persuasively and ensuring stakeholder alignment.

Thanks for reading!

If you like what you see, get in touch!

Thanks for reading!

If you like what you see, get in touch!