Facebook’s Libra Association Changes Name to “Diem”
Posted: Sat Dec 05, 2020 4:00 am
The Libra association is changing its name – Libra is no more, welcome Diem. Diem means “day” in Latin – the association seeks for this to be a fresh start before the currency launches in early 2021.
Back when Facebook first announced Libra it was supposed to be a stablecoin backed by various currencies globally, but there was massive backlash against this idea. So now Diem will be a single dollar-pegged stablecoin.
The new name is a symbolic gesture signifying the Association’s wish to placate regulators. It also released a statement, according to which the Association remains committed to maintaining the integrity of the financial system.
That name makes me think of "carpe diem", which seems quite appropriate.
Back when Facebook first announced Libra it was supposed to be a stablecoin backed by various currencies globally, but there was massive backlash against this idea. So now Diem will be a single dollar-pegged stablecoin.
The new name is a symbolic gesture signifying the Association’s wish to placate regulators. It also released a statement, according to which the Association remains committed to maintaining the integrity of the financial system.
That name makes me think of "carpe diem", which seems quite appropriate.