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Facebook Libra – Diem Work, and More

Facebook Libra

Introduction – Facebook Libra

Facebook Libra (renamed Diem) is an expensive system proposed by Facebook. It is based on a licensed blockchain that is expected to power an ecosystem for digital payments and other financial services.

June 18, 2019, was the day Facebook formalized Libra, its cryptocurrency with which the company intended to revolutionize payments worldwide. It designs to be accompanied by a virtual wallet named Calibra at that time, which would be available on Messenger and WhatsApp.

Libra was the name chosen by the popular social network for the launch of a new cryptocurrency that would revolutionize the market. Based on the blockchain, it would have equally secure and transparent transactions in the same way that occurs with Bitcoin or Ethereum.

What is Facebook Libra?

Is Diem a Cryptocurrency?

How Will Diem Work?

The Libra Blockchain (renamed Diem Blockchain) is a lawful blockchain that forms this payment system’s backbone. So how is it dissimilar from other blockchains?

Is Diem Decentralized or Centralized?

E.g., it may be easier to exclude malicious apps and scams.

The Libra Payment System

The Libra payment system (renamed payment system Diem) supports multiple stable currencies to a single currency linked to fiat currencies such as USD, EUR, GBP.

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