There has been a new development in the crypto money project that Meta announced two years ago. The technology giant, operating under the name Facebook at that time, initially launched its crypto currency. Libra had named it. However, it garnered intense reactions from both regulators and financial experts.
In December 2020, the name was changed to prevent the cryptocurrency from being associated with Facebook. diem was changed to . In addition, the name of the Libra Foundation, which runs the project with the company. Diem Foundation had happened. Meta was launched last Fall, formerly known as Calibra. Novi launched its digital wallet. This wallet was predicted to launch with Diem, but the company has instead launched a US dollar-based wallet. Pax Dollar had implemented.
Meta explained: The world’s fastest computer is in development!
Meta, which has recently shifted its focus to the Metaverse, will create the world’s fastest computer for its future operations.
Diem cryptocurrency may never come out
According to Bloomberg’s report, the Diem Foundation has Considering the sale of its assets. It is estimated that the Diem Foundation will dissolve if the sale in question takes place, and the cryptocurrency project that Mark Zuckerberg personally financed will never materialize.
Libra’s world supported by most currencies It was planned to be a digital token. But given that Facebook has more than 2.8 billion monthly users, financial experts and politicians feared that cryptocurrency could threaten economic stability and potentially enable money laundering.
Libra after the backlash diem Facebook, which changed the cryptocurrency to the US dollar and fixed the cryptocurrency to the American dollar, could not implement this project. On the other hand, David Marcus, the company’s manager of crypto money operations, announced that they will launch Novi with Diem after receiving legal approval. A month after this announcement, Marcus resigned from meta.
YouTube lost its senior manager to the crypto money industry!
YouTube Gaming executive Ryan Wyatt is getting ready to say goodbye. The successful CEO announced that he would leave the company.
What do you think about Facebook’s crypto money project? How would it affect the market if Diem came out? We are waiting your comments!