nataliesvoboda
commented
2 years ago Nice working rallying for the Technigala demo. I'm impressed by the overall commitment to building a product that is interesting, challenging, and abstract. Definitely agree with your comments above about clarifying the product pitch (especially user-facing text for the consumer product). Consider how you might allow the user to pull out a crypto loan in the event that they don't have the funds in their account. The loan could be a single day loan that would then disappear if the user were to fund their account the following day.
T1 Summary and User Testing
Summary
Feedback ranged substantially given the specificity of our project relative to the range of Technigala attendees. Most user testers seemed interested in the concept but expressed that while they do not use crypto or have wallets set up for that purpose, they could see the product being used by those who do.
Those with crypto backgrounds largely expressed excitement about the possibility of recurring crypto payments or acknowledged its usefulness when they found out that typical recurring payment installments are technically inaccessible in the blockchain ecosystem (since every transaction must be signed, paying each recurring sum that would automatically be transacted in TradFi (traditional finance), would require re-authentication in the crypto ecosystem).
A small subset of testers pushed back against the notion of converting subscriptions or other recurring payments typically paid in installments to a continuous "stream" of payment flow. They raised concerns that whoever the status quo currently favors (either the receiver, who might be paid up front, or the payer, who might delay payment), would be unwilling to adjust to a new payment system that disadvantaged them relatively.
Observations
Something we observed is that we need a clear and concise way to introduce our problem statement. Secondly, we need to develop a similar explanation for our product. I think improving our clarity without getting too bogged down in esoteric crypto details will help us develop a better pitch and a more focused product.
Some notes / catchphrases / ideas stemming from that:
Analysis
Not sure there is much statistical analysis we can do here - I think the nicheness of our product given the general audience (limited crypto users) was a difficulty in finding enough potential users.
Notes To Future Us
Next steps should include streamlining the user experience, adding additional features (risk analytics, portfolio management), and extensive testing.
TeamWork
In general, our team is working well together. We have had to pivot several times over the course of term 1 and have been able to communicate productively throughout. Everyone is pitching in and we will also be able to delineate our work more into specific features now that we have our MVP functional.
What has been working well?
Meeting every week, being active on Slack
What has not?
Using Zenhub effectively and having a clear plan for the upcoming week.
Steps
As mentioned above, we ran into a couple of dead ends and some of us had limited prior crypto and web dev experience. Now that we have had time to explore, I think we'll be able to better plan out the upcoming steps.