Goodbye Libra: what was supposed to be Facebook's cryptocurrency, starts a brand change and now it's called Diem.
At the moment, the official accounts and website name of both the Libra Association and the developer community have been changed and now carry the new name of Diem.
The logo symbol remains, with the three curved lines.
Libra, the rebrand before launch
This name change comes a few days after the news of a imminent launch of the project, although different.
In fact, the original Libra was supposed to be Facebook's cryptocurrency anchored to a basket of fiat currencies that was intended to make transferring money as easy as sharing a photo. Libra, however, encountered the regulators resistance, including that of Christine Lagarde, Which considers stable currencies (such as Libra) a threat to national sovereignty.
Even Facebook itself seems to have taken a step backwards, leaving the management of the project entirely in the hands of the Libra Association, which is made up of numerous companies that support the initiative.
Finally, recent rumors in the Financial Times have indeed spoken of a stable currency anchored only to the American dollar for the moment, to be launched in January 2021. In short, neither more nor less than the other stablecoins in circulation. It remains to be seen, however, how much influence Facebook will exert to promote what was originally its project to revolutionize social media and finance.
Anyway, maybe all these changes after a year and a half since the whitepaper was released convinced people that Libra was something else compared to the project to be launched soon.
This explains the choice of change the name from Libra to Diem.
And who knows if Libra will come back to life when it can fulfill the original project.
At the moment, no there are official comments.
The name of the wallet allegedly containing Libra remains unchanged – continues to be called I did not see, even if originally it was Calibra.
All that's left is to wait for more developments on the project and the official launch date.