‘Web2.7’ More Likely to Happen than the Complete ‘Chaos’ that Is Web3, Randi Zuckerberg Believes 

Randi Zuckerberg, the founder and CEO of the Zuckerberg Media production company and marketing consultancy, and sister of Meta CEO Mark Zuckerberg, believes that Web3 is not as close as many may think. 

Speaking at the Global Supertrends Conference 2022 on Aug. 17, Zuckerberg shared her views on the state of Web3 and the fact that it is currently more of a concept, an “ideal utopia” than a real product yet.

“What’s happening, in reality, is chaos,” Zuckerberg explained.

One of the early Meta (formerly Facebook) employees noted that Web3 is suffering from being too complex and involving too many steps to enter – the issue that has been hugely discussed in the industry.

According to Zuckerberg, Web3 is suffering from being too complex and involving too many steps to enter – an issue that has been hugely discussed in the industry.

“It should not take 45 steps to set up a cryptocurrency wallet, buy a currency and enter the metaverse. It needs to [be] one-stop, beginner-friendly.”

Zuckerberg also spoke about one of the hottest trends of Web3 — the metaverse. She expressed concerns about metaverses developed by different companies being isolated from each other.

There are already many metaverses in play with no interaction between each other, which presents an obstacle for further development, Randi believes. 

“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. In order to really unlock the potential [of Web3], we’re going to need to figure out a system where there’s interoperability. What you have goes with you wherever you are, [and] we’re not there yet.”

Speaking about the future of Web3, the Zuckerberg Media CEO said she believes that there is still a long way to go to protect users and their assets and that centralization might be the solution to that. In her opinion, Web3 is not achievable at this point, adding that everyone who is working on Web3 applications and platforms right now requires expertise from people who worked with the global banking system and Web2.

“I think we will wind up [with] web2.7, where there is some centralization, keeping people safe, but the ability to port your assets with you to any site.”