Facebook Renames Libra to “Diem” Ahead of 2021 Launch

Libra Association, the organization in charge of Facebook's cryptocurrency project, has rebranded the stablecoin again, ahead of the anticipated launch next year. The move is to ensure that the project meets regulators' criteria in Q1 2021.  A New Days For Facebook's Crypto According to the changes revealed today, the project will now be called Diem, a Latin term for "day" because the Association believes it is a "new day" for the project.  Announced in June 2019, the Libra project has…

Facebook’s Libra Project Plans Have Been Scaled

Facebook announced its Libra project in June 2019 with the plan to release it this year. Nevertheless, the stablecoin project was heavily criticized. As the criticisms continue, Facebook has been unable to provide any updates for months. Yesterday, it announced remarkable changes to scale back its global payment system. The most remarkable of the changes is a shift from the creation of an open international financial network to instead offer both single-currency and multi-currency coins to be tied to local currencies. Part of the…