After the interview, I generated two experiments. First is Private VS Public. I will ask the participants to publish all their transactions on their bodies, change their names to their financial identity, create their profile, and start to date. Based on other transactions to find out if you two have the same interest. It aims to use the opposite approach for testing the possibilities of privacy issues. Another experiment is creating a new form of money. If there is no coin, paper, plastic card and app, the participants have to choose one thing to replace them as their own new money. This experiment aims to explore the sense and emotion of defining money.
Private VS Public ✨
1. Public all your 1-week transactions on your bodies
2. Change your names to your financial identity
3. Find a person who has similar/ same interest and purchase with you
4. Start a conversation related the similar purchase
After the conversation
Q: Who is ________? A: ________________
Q: What is your same interest?
A: ________________ Q: Would you mind to public your speeding data to meet new friends? A: ________________
No coin, banknotes, app. Create a new form of money, Draw on paper
Throughout the experiment, I collected their ideas and feedback and generated the below items as new money. Actually, money has its own value, I know it is hard to replace them. But designing a new form for money could be an interesting idea to let people reimagine their relationship and experience with money. This is what my project aims to achieve.
What did users say?
I also get inspiration to think of can I rematerialize money? Can money become some objects that more related to our life? Below are some photos that I get inspiration from.
Project feedback & Reflection 🙌
So to conclude, in this stage, I generated some insights like the emotion of money, the relationship between people and money. I want to create a physical experiment and a mobile application that help people manage and learn from their finances in a more human-centered way. I am not just creating a new concept for Fintech, but also aims to create a community that giving you Finmates and Finlife! I know at this stage, my idea is still quite abstract, but my interviewees, classmates and tutors also give me a lot of great support and feedback for my project. I will consider their feedback and try to make my idea real to test so that I can gather more valuable feedback in the next stage.
Please have a look at the next blog for further progress.
Grossman, J., 2019. Passing cash from bank notes to bitcoin: standardizing money. Journal of Cultural Economy, 12(4), pp.299-316.
Housel, M., 2020. The Psychology Of Money. Harriman House Publishing.