OVERVIEW
BlocParty is a blockchain-powered investment platform for real estate and other hard assets. It enables users to trade “shares” and usage rights via smart contracts on a secure, decentralized network.
TEAM
André Orta, designer,
Kaan Yilmaz, engineer
TIMELINE
3 months
MY CONTRIBUTION
UX design, product strategy, project management, wireframing, user research, systems mapping
CONTEXT
Normative Inc. summer internship project
“Asset management” includes everything from managing office inventories to diversified investment portfolios. Blockchain offers novel features like crowd-verification and conditional contracts that could enable new models of management or trade.
Our brief was to explore the intersection between Ethereum blockchain technology and asset management, then “build something” under the following constraints:
Constraints
1: The solution must involve blockchain
2: You must build a working prototype
Blockparty is a stock exchange for physical goods. It treats any high-value item like a commodity, allowing owners to sell “shares” of an item and create liquidity without having to sell something outright.
The platform also negotiates usage rights between shareholders. Since the assets being traded could be shares of real estate, exotic cars, vintage watches, or other goods, BlocParty uses smart contracts to automatically determine the parameters of ownership and usage.
The BlocParty Exchange marketplace enables users to invest in any high-value, verified good. These goods are uploaded by users themselves, who use smart contracts to set parameters for how the usage of a good, like a car, might be divided among its shareholders.
I conducted interviews with key stakeholders in the asset management space, pulling out key insights.
We took a step back to define "ownership" and "fractional ownership" since they were key to our product.
Based on our stakeholder interviews, we mapped out the 3 key processes in the asset management space.
“How might we leverage blockchain, the network effect, and other
emerging technology to improve asset management?”
We charted high-value, tradeable assets on a matrix of utility vs. investment opportunity. This would determine the best items to feature on the BlocParty Exchange marketplace.
We compared BlocParty to other blockchain-based marketplaces of high-value goods.
I sketched out key screens and features in paper in order to prototype ideas quickly.
After a round of feedback, I drew out the architecture of the app.
To shop for new assets to invest in, browse BlocParty Exchange for curated recommendations, product specs, and market history.
To book the use of an asset in your portfolio, navigate through your asset tab, select an asset, view its availability, and book.
To track the health of your investments, select an asset in your portfolio to view value history, P&L, and location information.
Buying a home usually requires good credit, a large down payment, and a comfortable income-to-payment ratio. This is out of reach for a large percentage of low, middle-income, and city-dwelling people.
Sharing the value and cost of a home is a far more streamlined, affordable path to real estate investment than traditional home buying. However, the equity a user might gain over time will
be limited to the size of their investment.