Citizen Finance: A prominent platform for utilizing Blockchain Technology in the gaming industry

Blockchain in gaming enables interoperability profiles of players: Crypto traders and investors have the public address that they can use for transactions across different blockchain networks. Citizen Finance is introducing something new into the utilities of in-game assets. It decided to adopt the Binance smart chain network because it is easy to understand, low-cost gas fee, fast transaction, and also similar to the Ethereum blockchain. If you create your games on the blockchain, your players can take their unique public addresses from one game to the other.

The main property rights

The property right is often classified as a human right that gives every citizen the right to own property purchased using their fund. Property can include real estate, autos, and in our case virtual properties like in-game assets. The main property rights are;

● Right of Control

● Right of Possession

● Right of Exclusion

● Right to Derived Income

● Right of Disposition

To date, one of the most prominent problems in the traditional video gaming industry is a denial of property rights when it comes to in-game assets. Players are not the true owners of their in-game assets even if they had purchased it with in-game currency which in turn was purchased with fiat currency. What they can do with the asset is limited to the utilities of the game. The player lacks true control of their assets, can not derive income from them, and also can not dispose of them.

What does Citizen finance Offer?

Citizen Finance as a GameFi protocol offers players the option to withdraw their unused in-game assets (non-fungible token) and stake on decentralized pools where they can earn Ciphi (CIFI) tokens. This mechanism will result in frequent withdrawals and deposits in and out of the ecosystem in which users will spend a lot of gas fees. Adopting a blockchain with fewer gas fees and fast transactions was our primary need when choosing a blockchain.

Non Fungible tokens in gaming finance

NFTs can enable gamers to truly own in-game items and transfer their assets from one game to the other. Citizen Finance is the world’s first blockchain-enabled role-playing game across multiple platforms with support for Non-fungible tokens and game finance. Non-Fungible Tokens or NFTs are unique cryptographic tokens that can be used for a variety of transactions, financial and non-financial, and metadata — required for the exchange and distribution of gaming tokens and earn more money than other tokens in this industry.

Why is NFTs Special?

The specialty of non-fungible tokens revolves around three (3) concepts namely; Unique, Rare & Indivisible.

Unique: One major feature that makes NFTs special is the fact of it being unique. Unlike fungible tokens, each NFT has its unique properties (metadata) that are peculiar to one token. 2 NFTs in the same platform can’t have the same properties.

Rarity: NFTs are rare collectibles with limited supply. The scarcity mechanism is one thing that makes owning a non-fungible token special.

Indivisibility: Unlike a fungible token, a non-fungible token can not be divided into smaller units. Bitcoin and other fungible assets can be split into the smaller unit but non-fungible token needs to be bought, sold and held as a single unit.

Invention and future of Blockchain technology

Blockchain technology was first outlined in 1991 by Stuart Haber and W. Scott Stornetta, two researchers who wanted to implement a system where document timestamps could not be tampered with. Blockchain technology has far-reaching applications across many industries. Blockchain is already used to facilitate identity management, smart contracts, supply chain analysis, and much more. The full potential of blockchain technology likely remains to be discovered.

Citizen Finance is trying to make advancements In the gaming industry where the decentralized, steady, and secure properties of blockchain can make it a popular tool as games and their growing assets become more complex. As developers build new games or in-game advancements, blockchain is set to improve the user experience through ownership, globalization, and more.

Hashtags : #citizenfinance, #nft4fps #nft4XR #cifipowa #metacity #gamefi #citizens #cifi #defi #ciphi #bsc #blockchain #ownership

Learn more about the project:

Web : https://citizenfinance.io
Twitter: https://twitter.com/citizen_finance
Whitepaper: https://docs.citizenfinance.io
Telegram: https://t.me/blockmembers
Linekdin :https://linkedin.com/company/arvrseco

Authorship

BitcoinTalk username : Theyetion
My Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=2280672
BEP-20 Wallet Address: 0x7174fEd08DBeea426829CC5204876D78d0300bD5