🤲 Sending a Balance ⚖️
There is something so sacred about sending money to another human being. The transfer of value from one person to another is how the world we love is built.
We are deeply exploring the ways in which people can send money to each other using Ethereum’s Virtual Machine. These ideas are unstructured, unformed, and embryonic.
I will just throw them out here:
Quick Response Codes Should Be Magical
QR codes run many parts of the world. They are:
🧧 How you pay
🍲 How you order
🔌 How you connect
📺 How you advertise
I have always felt that they look incredibly ugly. It is so hard to make one look magical and maintain the properties of camera capture.
QR Codes should *shimmer* into existence and represent the uniqueness of each payment you make. We have a few ideas at Balance on how to do this well.
Although I have never been, I understand that in Japan there is important etiquette around the exchange of change.
There is so much intention behind the interaction. With money, you are dealing with the fabric of trust. It has to be respectful and powerful.
Last year I started exploring mobile interfaces for money again. Here was one of the many early passes:
What I like about this concept is how the entire interface defers to the beauty of the QR Code I found. Instead of being ugly, it becomes the centre piece.
It is highly likely that we will have to create our own QR Code generation system in Swift to get the kind of results we are looking for.
Multi-Network Money is Maddening
The Ethereum Virtual Machine has many layers. Many people have no idea that Optimism, Arbitrum & Polygon are linked to Ethereum in meaningful ways. Even more concerning is how confusing it is now becoming to send money using this Multi-Network system. Personally, I find it maddening when I cannot quickly figure out how to send someone some money. Here is a first attempt at a flow:
Your wallet should understand what you are trying to do and instantly figure out the best way to do it. You want to explore the boundaries of transaction speed and cost quickly, without having to do math in your head.
One of the many unanswered questions this mockup raises is: How will someone who receives money on a Layer 2 network for the first time know what to do?
We have to make the receiving flow as magical as the sending flow.
That is something that we are just starting to explore. It all revolves around one thing:
Notifications Should Be Invitations, NOT Interruptions
Here is a sneak peak at some ideas for intentional invitations instead of irritating interruptions. We think all of these are exciting things to learn instead of anxiety-inducing price alerts.
We are not just interested in sending money. We are interested in how you vote value and publish power. That is the nature of the bonds between humans. If you read the notification ideas in the screen above you will start to see the depth of our thinking.
Money’s Velocity Compounds Its Utility
A late payment can sink a small business. One missed credit card bill can ruin a rating. Delaying distribution of funds can make people homeless. Money movements really matter. It is not just the sums, it is the flows. The vector of value is its essence. If you pay on time or, ideally, *before* time, it is astounding what people will do for you.
That is why we focus on every single millisecond of a transaction. You have to take action. When it is faster it is better:
Want to help us accelerate the speed of money around the world?
Join our Discord: https://discord.gg/balance-wallet
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