August 19, 2022

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Deem Facebook has global ambitions by CoinTelegraph

© Reuters. One coin to rule all: Facebook’s Diem has global ambitions

It looks like 2021 will be a great year for the blockchain world, with projects such as non-fungible tokens (NFTs) and decentralized and centralized financial exchanges (CeDeFis) taking center stage. Also on the front line is Facebook’s (NASDAQ:) Libra.

Not so long ago, the media picked up the news that the world’s largest social network is developing plans for a global digital currency. Then after a while, Facebook seemed to put their plans on hold. Disagreements with regulators around the world have delayed and redirected Facebook’s plans to some extent. Rather than back down, Facebook decided to strategize and launch a “different” global digital currency later in 2021, after renaming the project to Diem.

  • Related Topics: New Name, Old Problems? Rebranding from Libra to Deem still faces challenges

It’s different in the sense that they had a name and an administrative change. However, the Libra Association, later renamed Diem Association in December 2020, will manage the project.

Read the full article on Cointelegraph

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