Facebook cryptocurrency coin name

Facebook cryptocurrency coin name

  libra, the cryptocurrency spearheaded by facebook, got a new name on tuesday, a move designed to reinforce its organizational independence as the ever-shrinking project seeks regulatory.

  in april, the libra association scaled back plans and said it would offer stable coins backed by just one nations currency, rather than a single coin backed by several currencies.

Facebooks new cryptocurrency is called libra, after the roman unit of measurement used to mint coins. Talk about widespread adoption facebooks reach is so vast that libra may become a new global currency overnight, on par with the dollar and the euro.

Cryptocurrencies coins facebook diem (formerly libra) libra association renamed itself to diem.

Facebook decided to indulge itself into the cryptocurrency business and was originally going with the name libra coin for its online currency, but it has recently rebranded itself as diem coin.

  on tuesday, facebook announced a digital currency called libra that will roll out for use in 2020 and allow the platforms billions of users across the globe to make financial transactions online.

1, facebook announced that its project will be known as diem going forward. Since the coin was announced in mid-2019, it was known as libra. The diem association says that its new brand is meant to distance the project from facebook, and, presumably, from its own troubled past.

A year and a half has passed us by since facebook first proposed its libra cryptocurrency the equivalent of a life span in the blockchain space. Initially slated for a 2020 release, libra was to be backed by a basket of fiat currencies and managed by a consortium of big industry players.

The introduction of the stablecoin diem will only exacerbate the situation. Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the coin, relative to some stable asset or basket of assets. According to reports, facebook is looking to release its stablecoin diem backed by the us dollar early this year.

Latest news about Facebook cryptocurrency coin name

Facebook cryptocurrency coin name

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