There are two big questions on everyone’s lips now: What exactly is Facebook’s Diem, and what it will offer its potential 2 billion users?
The year 2021 seems to be a big year for the blockchain world as several projects, such as nonfungible tokens (NFTs) and centralized decentralized finance exchanges (CeDeFis), are taking the central stage. Also at the forefront is Facebook’s Libra.
Not too long ago, the media was rife with the news that the world’s largest social media network was developing plans for a global digital currency. Then, after a while, it looked like Facebook shelved plans for it. Disputes with regulators around the globe had a hand in delaying and redirecting Facebook’s plans a bit. Instead of backing out, Facebook decided to strategize and launch a “different” global digital currency later in 2021, after rebranding the project to Diem.
It is different in the sense that they had a change of name and administration. However, the Libra Association, later renamed to Diem Association in December 2020, will manage the project.Continue reading… “One currency to rule them all: Facebook’s Diem has global ambitions”