What is Citizen Finance?
Citizen Finance is an introduction to GameFi and true ownership of in-game assets. While acting as a bridge between the world of traditional gaming and blockchain, Citizen Finance will create a platform where players are the true owners of their in-game assets, they can stake them, resell them, gift them or simply use them as collateral.
Right to property is often classified as a human right which gives every citizen the right to own property purchased using their own funds. Properties can include real estate, automobiles 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 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 have purchased them 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.
Blockchain technology has enabled some games to introduce true ownership of in-game assets but the utilities for this new concept are still small and have no real impact on the industry. Citizen Finance will be introducing new concepts and utilities for in-game assets using blockchain technology.