Joshua Nelson: CeDeFi in Metaverse and Gaming

Joshua Nelson ?is the founder and CEO of Emotional Ideas, Inc. which is an amusement technology company, combining the go-kart, lasertag, and gaming Industry to create a Combat Laser Motorsport called “Battle Racing”. In this article I will share the insights that I have gained by interviewing Joshua.?

During the past few months, I have been researching about?CeDeFi ?use cases in different industries. Many interviews have been conducted with experts in the gaming industry as well as?Metaverse ?and?DeFi ?ecosystem’s pioneers; with the goal of creating a brainstorming database for the future.

CeDeFi is the abbreviation of Centralized-Decentralized Finance and it refers to bringing the functionalities of both systems together. using CeDeFi we can have the privilege of an innovative financial product while it’s meeting the regulations.

Mahsa: “How CeDeFi will create the next frontier of Esports in Metaverse? If we can create a Centralized-Decentralized Finance prototype in games which connects the digital wallet of the gamers and their centralized bank accounts, how will it change the gaming industry?”

Joshua: “People go to work to make money. So, if people feel like they can play video games and turn the virtual currency into usable, legal tender; I think a lot of people would do it; especially a lot of children. you would probably see more high schoolers going straight to gaming to make a source of income versus going into the workforce.

People do Uber, only fans and things like that, try to find other sources to generate income. So, this would be another one of those easy access for this generation. I think the general population of society probably will suffer a little bit, because we have less people going to some of the blue collar jobs or white collar jobs that we need. a lot of people are going straight to gaming.

That would be a huge shift. If that were to happen in that fashion, I would probably give a word of caution to the gaming companies that are allowing this; because you might have an influx of visitors, and it could probably overwhelm the system.”

Mahsa: “How will Metaverse change the human interaction with Media as well as the financial services?”

Joshua: “The communication method or interaction between humans is always shifting and changing. we’re seeing a social revolution where people change the way in which they interact. I think the biggest thing about the gaming space is things like VR headsets or Oculus. It allows people to not leave their homes, but become more sociable or take more vacation-like experiences from the comfort of their home.

So, I think it’s going to change tremendously assuming that more people have not only the hardware, access to the hardware, but also the WiFi that’s required to run these types of systems. I think once both of those are solved,we’re gonna see more people interacting.

The most uptake is probably on the dating side. people are going to try to use this to their advantage when it comes to dating, instead of trying to go meet out at an actual restaurant, you meet at a virtual restaurant, and have a one on one conversation.

In that regard, I think you’re going to see more of the younger generation trying to meet up more often than you probably would see older generations. they are more equipped to accept change in this fashion. Whereas the older generation still want to be in the physical world.

A dangerous side of that is that in a virtual world you can be whoever you want to be. If you are meeting virtually, you can change your appearance. So it might get a little confusing. But all in all, I think socializing will definitely be different. And we may see that ricochet effect through the rest of society. this new generation might be more open to it.”

Mahsa: “What would be the reaction of professional game players as well as the non-tech-savvy people to this new Gaming frontier? What if we can actually create a CeDeFi prototype which connects users’ in-game digital wallets to their centralized bank accounts? Would gamers like this or not? Will it encourage normal people to become professional gamers?”

Joshua: “I think one of the reasons why people’s antennas have been raised now to it, especially to such industries like EA SPORTS , is because they see individuals who are 15 years old and they are making $2 million from EA Sports. The dynamics is going to be truly recognised when you see a 10 year old get on the game. And they’ve made a million dollars just from CeDeFi and a video game.

I think that’s going to raise a lot of antennas and that’s going to adopt a lot of the older generation. the older ones will rethink this whole gaming thing; because it can be a way for them to make money. It sucks to say, but a lot of people’s motivations are motivated by money.

So if they didn’t like it, and all of a sudden, they see it as a quick and easy way to make money, then I’m pretty sure we’re gonna see a mass adoption into this world; just for the sake of money. I think people are tired of going to work and doing things they don’t like. So now if you put me in an environment where I can make money from a video game, I can do it all day! So if we can make money in a game and transfer it to our bank account though CeDeFi products it will be so interesting for many people.”

Mahsa: “What are some obstacles regarding banking in Metaverse games which need further research? For sure it will take some years until we reach the full potential of this technology; But what aspects should be researched to accelerate the progress and the mass adoption?”

Joshua: “The security protocols are important. First and foremost, we want to make sure that if you do make money from the games, and the descender, who now has access to send it to your account, won’t be able to reverse the process and pull money from your bank account.

I think we all are kind of aware that a commercial bank’s job is not really to store our money, but to be able to take our money. they can go spend and make more money and give us what’s left. There’s gonna be some protocols in between about how the game gets it, how we receive it, how the bank stores, how to use it to make investments and give it back. conversion rate should be taken into account as well. We’re taking gaming currency and converting it to legal tender. for sure there’s going to be some conversion in between that process.

The next thing will be wallets. That’s something that the banks are trying to figure out. How do we associate or give out digital wallets to each user that currently has a typical bank account? Everyone would need a digital wallet. But how can we secure digital wallets? Most digital wallets have a passcode, or a passphrase. if you lose that, you have completely lost access to your account. If somebody else gets it, nobody can take out money from your account. So trying to educate the masses on how digital currency works will be a little challenging; Because there are a lot of people who are not tech savvy.

you need to have at least a base level of understanding of how digital currency works or you’re going to be one of those people that either lose your account or forget your key phrase. I think security protocols are probably going to be the biggest thing.”

About Crypto Diva

I’m already in the Future… Meet me there! Blockchain Technology is my passion and I have dedicated my career and research path to DeFi. My ultimate goal is to encourage more female professionals in the DeFi industry.

As the Marketing Manager of?Paycer Protocol , I’ve got the privilege of being in close contact with CeDeFi experts who are creating the foundations the future financial world. I love to make the impossible possible and i’m willing to go the extra mile for that. Be my companion in my DeFi journey and I’ll show you everything.

Peace & Love,

Your Crypto Diva

Stay in Touch with Me:

Twitter ?|?LinkedIn ?|?English Medium ?|?English YouTube ?|?Instagram ?|?TikTok ?|?Farsi YouTube ?|?Farsi Medium