UX and Economics: The Secret Sauce for Sticky dApps - TOKEN2049 Singapore 2024

hi there I'm AR Kain so just a little bit background on me I've been in tech for 35 years 20 years in disaster managements I've built disaster management platforms for now that are deployed in 93 countries so created solutions that basically help citizens but also brought in stakeholders like responders governments other agencies that actually wanted to have Insight so they can make better decisions in the last 10 years I got stuck in crypto primarily because one friend of mine that I met years ago said hey Bitcoin is to Value transfer in a trustless environment and that kind of stuck with me because I knew what that meant in a disaster scenario and especially with the current emergence of resilience issues and adaptive resilience and for me really the challenge is has been really this adoption issue of of blockchain it's not working primary because we've created a token gated experience by going web 3 first and really forgetting about how a product actually needs to evolve into something that becomes sticky becomes about the user experience and the value transfer so that the user actually understands why they actually engaging this that application and what they're getting from it and personally I'm definitely a dgen on multiple Frontiers for mining staking nfts lost plenty on that um been involved in lots of D5 projects like Badger Fox with shapeshift Iota and you got some protocols and I've seen kind of The evolutionary steps of this R&D lab that I call our blockchain industry and the core issue that I really saw is that the user and the daps are taking all the risk and I don't see them actually getting the rewards for taking the risk most of us get basically wrecked exploited constantly exploited don't we want to engage with a contract cuz we don't know if the cloud flare got hacked and we're actually in the right domain but for some reason it's been rerouted to a you know agency that's trying to make sure that they get our our Bitcoin right and so my main thing has been okay how do we actually create a solution that allows us to emerge into something new an experience that is really UI uh ux focused and it's really a solution that is an apps or Shopify kind of experience so what if blockchain was for everyone without actually you know one of the core issues I see is that Engineers have been building our Solutions almost like talking to other engineers and saying hey look I built this amazing dab isn't it cool what kind of yield it can generate I can bridge between protocols all of that really basically is not talking to the everyday consumer so I feel like we're losing oursel in that translation and where I want to basically take it with incentive is change the real narrative to simplicity so instead of complexity and speculation where it's almost like yeah mem coins are great because it allows us to engage and and transition out of boredom because we were bored out of the bare Market we want to move ourselves in the bull market but I don't feel like that's really how major adop is going to occur in our industry and the way I look at it is that Simplicity is really about the user not even knowing what protocol they're on but for them to actually engage in it so it's an Easy Flow that actually has no friction building and so my main thing is really about merging the value of that we're trying to convey and the experience and that's really where where I'm going at and what I mean with that is like I'll give you a perfect example um when I look at my history on engaging in and engineering and Building Solutions for clients I look at a perect pivot point of when WordPress basically came to uh to the Forefront and all of a sudden it became more accessible for business owners and users to just create their own website instead of having to fight for resources like we're fighting right now for solidity developers that are actually any good or a major point was Shopify came into the uh industry and all of a sudden we able to drag and drop create a store customize it and I don't even have to know CSS um Can educate myself a little bit on JavaScript and customize it and create an amazing user experience and the Shopper or the my client basically can purchase anything without having to worry about if they have a metamask wallet or what protocol they need to switch on and I think that's really the focus of incentive is how do I actually build something that really connects all the dots and incentivize all the stakeholders without actually compromising their security or engagement and rewards them actually from day one and our unique approach is really how do we create a very smooth onboarding experience how do we make sure the user actually earns through the engagement and how the DAP developer actually earns through the engagement that they are receiving on the network and how do we really cor always keep Centric that major point of human Centric design because that to me is what actually is allowing and continuing the experience to be so fruitful that they continue to engage and don't go into the frustration of losing their assets or losing their patience because something in a transaction didn't go through it's now stuck and they had to figure out through a YouTube video how to actually Lodge out their assets or figure out how to actually remove the the priority of their transaction so they can actually re-engage with the application so going from that desperation to actually an experience that is smooth smooth and definitely um the kind of experience that we want to deliver that creates a frictionless engagement so as an example and you'll be able to see the demos at our booth we have created a incentive Studio similar to like a Shopify engagement structure where you can actually plug in uh drag and drop basically certain features engage with the blockchain without actually having to know any coding and actually enable your dab to run on our chain and that in itself really creates um a much smoother onboarding on dap developers user experiences so that you don't have to know solidity to actually engage with incentive you just need to know what what is your business case we're also working on an AI enabled incentive studio so that you as a developer or business owner can say this is the case that I want to solve and that basically incentive Studio Plus gives you actually all the right tools and steps to actually directly integrate through a plug- inpl solution in to um adapt uh publishing that basically is smooth and doesn't require you to hire developers and it'll actually do an audit on on the fly as well so that it'll find the vulnerabilities that you might have on your application and what kind of issues actually you might run into so for me this is a game Cher because that's the main reason why I'm in interested in it because it applies towards even applications that I've built games I've deployed apps that I've deployed that I can actually now transition to something that I don't have to worry about how the blockchain works I just care about onboarding users and actually making sure that engagement drives my value delivery and therefore has a higher success rate for me as a Dap developer and ecosystem Builder so you can see that it's a simple drag and drop solution bringing the elements in there setting out basically the functionality settings and then actually going being able to really run it in real time test it and actually deploy it into our Marketplace as I mentioned enabling it through AI so that the artificial intelligence actually understands what our puzzle pieces are that we're enabling understands actually a protocol and its abilities the transaction speeds but then also understands what kind of user we dealing with without actually disclosing the users's information that's very key to me in regards of what incentive is trying to create again it's in the name I want to make sure the incentive is in the whole ecosystem of our engagement not just you know trying to siphon off giving you a token and then hopefully we we run into another bull market I think those times are over it's time to actually deliver a Shopify like experience in the blockchain industry so that we can actually really build for growth so because we have actually spent a lot of capital building a lot of daps lot of protocols and I don't think it has resulted into what we actually wanted and I've surrounded myself with amazing UI experts amazing Engineers to basically achieve this goal but in addition to that what I really am looking forward to is being able to actually on board design Partners um and I'll introduce shortly some one of them that basically allow us to tokenize Assets in the right way to deliver that value from day one so instead of just building a solution without actually having design partners and then hoping have people adopt it from day one we've been working with design partners and Industry leaders to actually build a solution that we know they will adopt CU they're giving us the feedback loop that then actually achieves the goal and the solution that they're looking for without having to over educate them on what blockchain is and what the value is i' would love for you to check our demo see actually what we've been building look at our road map and uh allow us to actually build a truly adoptive resilience around blockchain because I think that's the goal here that all of us are trying to achieve and I would like to introduce the chairman of the board one of our senior advisers Mr M on stage My Name Is Tashi M I'm a chairman of the board of Japan bank for international corporation jic which is the government of Bank of of Japan also that I served as a special advisor to the cabinet of government of Japan uh my S sense is that I'm not representing a very conventional uh the financial industry like this uh wear that suits and the ties however that the uh I think that I'm be confident that blockchain technology is a future and they uh in terms of uh uh technology to enable that digital currency we are studying uh opportunities of digital currency or and also that the eventually that Central Bank May adopt we have to adopt the blockchain as the digital currency now that we are in front of the geopolitics between the US and China and liary and also that after the aggression by Russia to Ukraine uh you know there the US and Europe put a sanction on Russia using a swift but Swift technology is a very oldfashioned technology that probably uh we need to replace this technology by the blockchain so the digal currency so that's the uh winner must be using uh the blockchain for making that digital currency especially that the Central Bank digital currency that we have a lot of study already in many Central Bankers of Treasury but we have some some problem to solve but for instance Japan uh the interest rate is for more than two decades it's a zero interest policy but uh banks that the uh uh charge the uh fees for cross border the uh transmittance of the money it takes time it takes uh also that cost and also that we now have to uh keep say uh carbon neutrality because of the paperback note uh we have a lot of uh uh demand for uh the uh Power Generation but this is not so easy that that we need to adopt the digital currency and to reduce the cost of the uh transportation of the paper not and they hold that this is a not that future right now we have to uh uh use this technology for data currency and also the security blockchain is more security and they uh in terms of security the blockchain technology and also the good footprint of the ear transaction very transparent therefore that's no uh diss for that money laundering if you use uh the DAT blockchain as data currency so that's why that I'm now advising this company and also that government Japan will have to to adopt this technology um I believe that the this is a a f not a future now the present that the uh decision making we have to do and this is a perfect example of a design partner that has a clear need and we're able to basically integrate based on those needs without over complicating the technology aspect of the integration and that's truly an incentive of us to Del for us to deliver the value that actually he is looking for and and the country is looking for and that's exactly what my you know reference data is is building resilience around platforms that actually deliver clear value and that value is then monetized by actually creating the savings and the clear ability to actually grow into that ecosystem of the next Revolution that we are trying to actually push forward with this blockchain industry thank you