Libra (digital currency) | cryptocurrency facebook
CryptocurrencyprojectinitiatedbyFacebookDiem(formerlyknownasLibra)isapermissionedblockchain-basedpaymentsystemproposedbytheAmericansocialmediacompanyFacebook,Inc.Theplanalsoincludesaprivatecurrencyimplementedasacryptocurrency.Thecurrencyandnetworkdonotyetexist.Thelaunchwasoriginallyplannedtobein2020,[3][4]butonlyrudimentaryexperimentalcodehasbeenreleased.[5]Theproject,currencyandtransactionsaretobemanagedandcryptographicallyentrustedtotheDiemAssociation,amembershiporganizationofcompaniesfrom...
Cryptocurrency project initiated by Facebook
Diem (formerly known as Libra) is a permissioned blockchain-based payment system proposed by the American social media company Facebook, Inc. The plan also includes a private currency implemented as a cryptocurrency.
The currency and network do not yet exist. The launch was originally planned to be in 2020,[3][4] but only rudimentary experimental code has been released.[5]
The project, currency and transactions are to be managed and cryptographically entrusted to the Diem Association, a membership organization of companies from payment, technology, telecommunication, online marketplace and venture capital, and nonprofits.
Before December 2020, the project was called "Libra".[6][4]
History[edit]Morgan Beller started working on cryptocurrency and blockchain at Facebook in 2017, and was initially the only person working on Facebooks blockchain initiative.[7]
Facebook vice president David A. Marcus m...