Matthias Knauth: CeDeFi in Metaverse and Gaming
Matthias Knauth ?is dedicated to empower everyone to have access to digital assets and investment services and is the head of product at fincite - Wealth Management Software ?which provides an investment software for Financial Institutions. Matthias used to be the head of product in Credmark Labs ?which is a financial modeling platform for DeFi; and the senior product manager at? First Coin GmbH which offers crypto trading solutions. In this article, I will share the insight that i have gained by interviewing him.?
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?”
Matthias: “When you look at how mobile payments expanded over the past years, it seems like nowadays people are more aware of these kinds of payments. They tend to invest more money. The gamification concept is getting more attention.
I’m not 100% sure If blockchain will bring us to another level; but I think, over the long run, the tokenization of items may make it possible for Esports players to have more control over their own items and that they really own the assets.
I think this concept can increase how people interact with this whole stuff. When you buy an item in a game, it’s still not your property. But tokenization will create an opportunity for new players to join the industry.”
Mahsa: “How will Metaverse change the human interaction with Media as well as the financial services?”
Matthias: “I think the Metaverse will be more inclusive. It will be more integrated in our daily life routines and we won’t need to go to the store or to the bank physically. The whole world will be somehow more integrated.
I’m not sure exactly what it will look like. Maybe we will just sit in front of our computers, wear a VR mask and walk through the Metaverse; but I think in general, you will see more integrations into your daily life, you will interact more intuitively and many things will get easier. People won’t have the urge to get out of the house to do financial activities like going to the bank and having a conversation with their advisor.”
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?”
Matthias: “Game Players have always been a little bit anti-crypto and anti-blockchain because of the energy consumption and stuff like that. So it is an ESG (Environment, Social, Governance) part of the whole story.
Nevertheless, many players might not realize that they are using blockchain technology in the backend. I think that the integration of blockchain and crypto, might not be that progressive; but it will be more in the backend and under the hood.
There will be a need for more education to convince people and players that blockchain technology isn’t that bad for the environment. At least not as bad as the current industry usage. If you compare the banking industry and the DeFi industry, everybody’s complaining about the energy usage of Bitcoin, but the energy consumption of the normal banking industry is even higher.
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The perception of people will change over time. There might be a small portion who would say okay, yeah, I can use, earn and own items by myself and they won’t belong to the gaming company; but I don’t think that the mass of people, at least for now, will proactively join Esports more than before for the sake of blockchain.”
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?”
Matthias: “We need to clarify the whole regulatory aspect, so that we can ensure that people that interact with the financial aspects of the games, will not “get rekt” (so lose all their money, items, assets by a malicious actor) and will be safe. The regulatory requirements and taxation rules all around the world must get clear.
I think that there needs to be a worldwide agreed regulatory framework that people can use. For merging the gaming industry and the financial industry, we need exact regulations, pure security and better usability.
For example, when it comes to the blockchain and cryptocurrencies, people always have this problem of how and where to store the private keys. We need to make sure that people are aware of how things work, that they have the proper storage system and if they store it using a third party, they should know how to avoid scammers and not to lose their assets.
A lot of research needs to be done. Moreover, the UI and the UX of the platforms needs to get better to decrease friction. Through this transition from Web2 to Web3, a lot of people get lost; because they think it’s a bit complicated for them. With simplification, we will see more adoption.”
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
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