Just a few years ago it was novel to own Bitcoins. They were a great conversation starter but definitely not commonplace. Fast forward to 2018, and it seems like everyone owns or has owned some form of cryptocurrency. Although ownership is the norm, it’s rare to meet people who transact with the coins they have in their crypto wallets. Why?
Despite the rapid development of blockchain technology and the emergence of new tokens, the transactional process of crypto is still suboptimal; it’s unergonomic, intimidating, and lacks any real user experience.
People get bombarded with articles, podcasts, and tweets boasting the game-changing potential of digital currencies nearly 24/7. However, these currencies are still not entirely functional-at least not to users outside of Reddit crypto forums. People are told that transacting with coins is easy, secure, and fast. Yet, it is both confusing and intimidating to find the crypto address of another user and initiate a transaction.
Until now, crypto-fueled companies have expected people to engage with their products and platforms through a payments system that feels impersonal and archaic. Companies touting ICOs and coin launches want their proprietary tokens to become ubiquitous; however, there is no underlying system in place that simplifies these transactions for the average user.
Tip Blockchain, however, is changing all of that.
Usability is the first tipping point on the way to global adoption.
Tip Blockchain is a platform designed to bring the user experience to the forefront of all crypto-based transactions. The streamlined design of the platform allows users to create unique and identifiable usernames to connect with other crypto owners and initiate peer-to-peer transactions.
Tip Blockchain is another platform focusing on crypto-user discoverability. The Tip Blockchain allows users to create personalized crypto addresses in the form of usernames. Usernames make it easy to find, connect, and transact with other crypto owners. Similar to its non-crypto, peer-to-peer transaction predecessors, Tip allows users to engage with one another and send transactions via instant messaging. While the platform is currently focusing on building a transactional layer based on the Ethereum blockchain, the team has plans to create their own highly indexed and searchable blockchain in the future. The Tip Blockchain will empower users to discover information stored on the ledger, without the difficulties and technical know-how of most blockchains.
By giving consumers the opportunity to create simple and personal platform usernames, Tip has solved for one of cryptocurrencies most pressing usability issues.
Discovery leads to adoption.
The Tip Blockchain team understands that when it comes to bringing cryptocurrency to the mainstream, we all have to walk before we can run. The average user will not simply integrate cryptocurrency payments into their lifestyles until usability is streamlined. To usher in this new age, the Tip team is focused on creating: human-centered design features (including usernames and peer-to-peer messaging), discoverability, and easily implemented point-of-sale systems to drive B2C crypto interactions.
Each user-friendly address alias stems from a cryptographic hash, similar to traditional Bitcoin and Ethereum addresses. However, these aliases are highly adaptable, making it easy for individuals to distinguish themselves among the growing pool of crypto users. Through their peer-to-peer messaging system, Tip is also integrating an element of financial peer-to-peer transactions that global consumers have already responded to on platforms like Venmo: social messaging.
People want the ability to interact beyond simply sending off payments and Tip makes it easy to engage with other users, ask questions, and respond to received payments. Infusing cryptocurrency transactions with a social element also serves as another means of sparking discoverability because the more people are given the opportunity to engage with one another, the more their interactions can amplify the power of the platform.
Additionally, the Tip platform is fully searchable and indexable. Although the platform does allow private data storage, it also supports public metadata which is accessible to anyone on the Tip platform.
Finally, by baking in a B2C point-of-sale system, Tip is giving retailers the chance to turn their customers onto cryptocurrency transactions seamlessly. This point of sale system is designed to usher customers through the entire sales cycle and will even include transaction management, customer management, and sales reporting.
When it comes to implementing a global shift to the blockchain, organizations must remember that a strong infrastructure and an emphasis on discoverability are necessary building blocks. It’s not just that adoption won’t happen within the current infrastructure, it’s that it can’t happen within the existing infrastructure. Fortunately, the resources and platforms are in place to bring a new age of transacting that is seamless and stress-free.
Global users do not have the patience to hunt down long and complicated individual addresses, nor do they have the time and energy to search for a specific piece of information within a blockchain. People are open to digital transformations, but only if these digital transformations make their lives easier, faster, and more secure. As it currently stands, crypto transactions do not make the average user’s life easier. Sure, there may be crypto experts who think that blockchain is already user-friendly. But if the technology is not accessible enough for someone who is over the age of 65, or not digitally fluent, it is not ready for global adoption. Adoption can happen-and will happen-but only once discoverability and usability have been implemented into blockchain technologies and cryptocurrency transactions.