Overview

Background

BlocParty is a blockchain-powered investment tool facilitating fractional ownership of real-world assets. In other words, BlocParty allows individuals to fractionalize high-value assets like real estate, art, and vintage automobiles on a blockchain-secured network. In addition to it's use as an investment tool, BlocParty also allows users to share ownership of their physical assets in a practical sense, like sharing the use of a car between multiple owners. In these ways, the tool delivers both investment and practical value for investors.

Originally, this project was meant to be an 8-week internship project centred around exploring the possibilities of blockchain as applied to the area of asset management. Over the course of the build, however, we focused the project down to developing the asset & investment management tool that came to be known as BlocParty.


End Deliverable

The final deliverables for this project are a "looks-like" prototype of the BlocParty app, a fully-functioning "works-like" of the back-end code, and a detailed project overview.


Goals

• Complete 3 main design phases (which included discovery, concepting, and production) with useful, shareable insights around the process, tools, and subject around BlocParty.

• Deliver fully-functioning works-like and looks-like prototypes.

• Design a user-centred, market-viable product that reflects a workable understanding of blockchain, finance, and experience design.


Team

André Orta is an MFA candidate in the Products of Design (PoD) program at the School of Visual Arts in New York City. He is studying a multi-disciplinary design curriculum with plans to become a design strategist.

Kaan Yilmaz is an undergraduate student at McGill University in Montreal, Quebec. He is currently pursuing a degree in computer science & economics with plans to start a company after graduation.

Key Learnings

Blockchain is a tool, not a solution. Applying blockchain to a problem does nothing to improve the outcome unless that problem can specifically benefit from the functionality blockchain offers.

• When designing a product with blockchain capabilities, it's important to limit the use of blockchain to only the operations that blockchain can deliver 10x of value around. In reality, blockchain is very slow, very expensive, and cannot currently handle large operations or amounts of data.

• The inventory management landscape is already a mature market, but a machine learning/blockchain hybrid tool could potentially predict and automate beyond the current capabilities of competing products.

• The inventory management process for typical North American offices are comprised of 3 core operations: supplying, ordering, and management.

• Whereas ownership means having total sovereignty over an owned thing, fractional ownership means having conditional sovereignty over part of a shared thing based on an agreed upon set of rules.

• Value is a function of both an asset's investment opportunity as well as it's level of practical utility.

When fractionalizing physical assets, the terms of use for the shared asset are paramount. Since the asset may not have a primary owner, the initial owner must define things like insurance, usage rights, and penalties.

• The greatest market potential for a fractional investment tool like BlocParty is around high-value assets with potential for appreciation. In other words, items like, real estate, vintage automobiles, and fine art.


Design Phases

Discovery

Concepting

Production


Next Steps

While there are no immediate plans to continue production of BlocParty, the learnings and prototype will be used to court partnerships on future projects in the same opportunity space as well as influence future projects involving blockchain technology.

Timeline & Scope

8 weeks worth of work divided into 3 phases: discovery, concepting, and production.

We were asked to explore as deeply as we could around the challenge area while producing a working prototype.


Team & Roles

André Orta: Lead Designer

• Kaan Yilmaz: Lead Developer