Meta Platforms Inc (NASDAQ: META) CEO Mark Zuckerberg's sister Randi Zuckerberg did not see a smooth and "complete decentralization" of Web3 while speaking at the Global Supertrends Conference 2022, CNBC reports.
Web3 refers to a system where users rather than companies own services and data. The former Meta executive saw Web3 as a hypothetical, future version of the internet based on blockchain technology, terming it as an "ideal utopia." However, she did not see that happening, but chaos instead.
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The founder and CEO of Zuckerberg Media saw that various metaverses are now acting as their "walled garden," in which users cannot use their assets across platforms.
The metaverse is a virtual world where people live, work, and play.
"Right now, I'm on Decentraland, my son is on Roblox, my other son is on Fortnite. That's great — we're all in the metaverse. But we have no interaction with one another," she said.
Zuckerberg sought interoperability to unlock the potential of Web3. However, it was difficult to achieve as no metaverse company now wished to give up control or share that ownership.
She also desired veterans in the global banking system and Web2 to lend a "protective layer."
Zuckerberg also emphasized user friendliness for higher adoption. She highlighted sectors like real estate as "extremely valuable," drawing a correlation between scarcity and value.
Zuckerberg identified education and training as another "huge area" for opportunities and revenue. She saw training in the metaverse, education in an interactive way, becoming crucial for every business that has remote work.
Earlier this year, Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Cloud formed a team to build services for developers running blockchain applications.
Google wants to offer back-end services to developers interested in composing their Web3 software to win market share in cloud infrastructure from Alibaba Group Holding Limited (NYSE: BABA), Amazon.com, Inc (NASDAQ: AMZN), and Microsoft Corp (NASDAQ: MSFT).
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