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.
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.