Aqoin, Chatbot for Cryptocurrency Services
No matter how automation has been developed, a lot of people still prefer to directly talk to someone, which is why customer service has still been one of the biggest costs for many businesses. Chatting has more flexibility and makes people feel natural and friendly. As for cryptocurrency and blockchain, even today, it is still quite isolated from normal people. Most people still do not understand it, nor be able to participate. That is why, 10 years ago, my partner Gewei and I had this approach, and developed this service, a chatbot for cryptocurrency services, that users can simply chat with our virtual banking agent, to open an account, send coins, or make exchanges, etc. It also allows users to easily receive digital coins. Luckily we received a quart of a million investment from an Angel Investor for this project.
1. Introducing Mr. AQ, virtual cryptocurrency banking agent
Mr. AQ is our virtual banking agent, users can simply chat with him for any questions, or ask him to proceed with cryptocurrency-related banking services. Mr. AQ is not just available in our app, users can also add him to their Facebook messenger, WhatsApp, or Skype as a friend, and ask him to provide service anytime.
Of course, how to train our bot and make sure it understands all the natural languages was the challenge. For the same command, people may say it in different ways.
2. Dynamic market information encourages more user engaging
There were studies show that dynamic information will stimulate users to be more active and willing to participate. By providing dynamic cryptocurrency market information, users can feel the energy of this community, can feel how alive the market is, and subconsciously want to be part of the energy. Greed, fear, expectations, and euphoria, the more people involve in this market, the more excited they will be. Unfortunately, that is still the power of keep changing numbers of the values, and that is still the reason of many wild stories in almost every investment market.
3. Issue our own cryptocurrency and issue credits, following Gresham's Law
We have also developed our own cryptocurrency for this service. As a new digital coin, of course at the beginning maybe most people would not give it much value, in order to have more users accept it, we followed Gresham’s law, which means, bad money drives out good. We will issue a credit for every Aqoin user, based on their activities and their credit score in our system. I know at the beginning this coin may not have much value, but when people want to use their digital currencies to pay someone, they may prefer to use it first, especially when it comes “free” as credits.
Furthermore, we also allow users to request to increase their credit line, by connecting and inviting more of their social network friends. This way can also grow Aqoin's user base at the same time.
4. Create a marketplace for users to post tasks, empowering users to make money
Even today cryptocurrency has still not entered people’s daily life, and we hope to change that situation. At Aqoin app, we provided a marketplace, where anyone can post a task with compensations (in the form of digital currencies), so others can signup to undertake the task and receive cryptocurrency as a reward. By doing this, we hope to encourage more and more users to spend cryptocurrencies in their daily life and also allow people to make money in a different way.
5. Entertaining, make it fun
We have also added some small animations and interactions for this app to be fun and friendly to use. For example, the animation of coins falling into the piggy bank, also fit the metaphor of saving the coins.
For the sidebar menu, we have also added a little animation.
6. Social, make it more engaging
Just like an old saying, the more, the merrier; or the Chinese old says, It is much more joyful to share the joy than enjoy alone. We have been encouraging users to connect their social networks and invite more of their contacts to be part of this app.
Even though this project eventually failed, I still think it can be a good idea to develop further. So I am writing this blog to record that approach, and if anybody is interested in developing it further with us, please feel free to contact me anytime.