InnoKOL | Luka Yooma: Metaverse Has the Potential to Enhance People's Lives All Across the World

2022/09/28 Innoverview Read

On Sept.28th, InnoKOL has a fascinating conversation with Mr. Luka Yooma, the Co-Founder and CEO of Linka Innovations, talking about his unique work experience and profound insights on blockchain.


Jokia: How would you describe yourself in three words? What’s your motto?


I'm Optimistic, Persistent and Innovative.

I do believe that if I’m going to innovate, I should be willing to be misunderstood - inspired by Jeff bezos.


Jokia: Can you please share more about your educational and professional background? And we’d love to hear what brought you to blockchain.


I'm a software developer, with a computer Science education background, I have worked as a freelancer for over a period of 5 years,

It was all about cryptocurrencies at first, but as I worked on my final year undergraduate project, which required studying and developing a blockchain-based food supply chain for Zambia, I developed more interested in blockchain technology. This helped my advancement by introducing a new interest to my profession and exploring its usefulness in other industries, as well as defining my area of specialization.


Jokia: How do you think technologies are moving the world forward, and who should be the biggest actor on the market nowadays in order to push technology to the mass adoption?


I consider myself fortunate to have lived in an era where technology has progressed, making our lives simpler and forcing us to rethink how we go about our everyday lives. Technology has and will continue to move the world ahead. It is clear that both governments and the corporate sector must take initiatives to guarantee that technology is embraced by the general people.


Jokia: The future of fintech in 10 to 15 years relies on security and improving authentication methods for companies to ensure users’ identity across their online service offerings. What will fuel the future of fintech?


Considering the increasing relevance of smart contracts in financial technology (FinTech) and their demonstrated capabilities for security and better authentication techniques, I believe smart contracts will fuel the future of fintech. By merging two basic notions into one solid idea, this new sort of agreement increases the accuracy and verification of worldwide transactions. Smart contracts may be integrated into decentralized apps inside decentralized finance to carry out more complicated tasks (DeFi).


Jokia: From your perspective, what’s unique and game-changing about blockchain technology?


The ability of the blockchain to protect data and make it autonomous is genuinely game-changing. It is decentralized, so no one person or group has control over the data that is kept there.

I think blockchain technology is about to have a big impact on many important fields. While some of these businesses are only getting started, others are about to embrace blockchain on a large scale.


Jokia: With the metaverse predicted to become an $800 billion market by 2024, it certainly isn’t going away anytime soon. How can you predict the impact of metaverse on the world and the future of technology?


Like any other cutting-edge technology, such as the internet, I think the metaverse is here to stay. Even though, people will still require real personal interaction. In the metaverse, people can escape the limitations of the real world and lead-free lives. Those may be able to speak with people who are far away thanks to the metaverse. It may improve people' access to work, shopping, health appointments, and leisure pursuits. Despite being in its infancy, the Metaverse has the potential to enhance people's lives all across the world.


Jokia: How important are NFTs and blockchain in the metaverse?


Looking at how decentralization is a vital component of Web 3.0, the next generation of the web, I think blockchain is critical to the development of the metaverse. As a result, in order to support a decentralized web, even metaverse activities must be created as decentralized platforms.


While blockchain technology is intended to provide the metaverse with a decentralized and secure environment, NFTs are equally important since they solve concerns about how these transactions and purchases will be monitored, as well as who owns what assets in the metaverse. How will the worth of goods for sale in the metaverse be determined. In this case, NFTs can be beneficia, although the primary use of NFTs has been the sale of digital art.


Jokia: What are the distinctions between Web3 and metaverse from your perspective?


In my opinion, there are several distinctions between web3 and metaverse, and I will highlight a few. Under Web3, individuals and communities will have decentralized ownership and control over the web. In contrast, the metaverse is a shared digital world in which individuals may interact in real time and without regard for ownership, individuals will be able to build economies, conduct payments, find jobs, and shop in the metaverse.

About the Speaker:

Mr.Luka Yooma is a young African tech entrepreneur, innovator, and Blockchain enthusiast with experience in IT team building, software development, Smart Contracts, and Tokenomics Advisor. He has worked as a freelance consultant for a number of blockchain startups. Additionally, he is also the Co-Founder and CEO of Linka Innovations, a tech start-up that intends to help youth-led start-ups in Africa and throughout the world implement low-cost tech solutions by assisting them in developing the planning stage, prototype, and final product. Linka Innovations believes that costly technology should not be an impediment to the implementation of new and creative ideas.

About the Host:

Ms. Jokia Yin is the Founder of Innoverview and InnoKOL, the Vice Chairman of HK International Blockchain Finance Association as well as the Head of Media at United States of America-China Chamber of Commerce. Jokia has over 10 years of marketing and management experience, much of which has been in the Asia Pacific Region within events and PR industry. She has held key leadership roles executing market research and entry, developing sales channels and revenue generation, building marketing, finance and Operations related infrastructure for a more than 20 events related to retail, tourism, energy storage, blockchain, cosmetics domains.