One currency to rule them all: Facebook’s Diem has global ambitions

One currency to rule them all: Facebook’s Diem has global ambitions


The year 2021 seems to be a big year for the blockchain world as several projects, such as nonfungible tokens (NFTs) and centralized decentralized finance exchanges (CeDeFis), are taking the central stage. Also at the forefront is Facebook’s Libra.

Not too long ago, the media was rife with the news that the world’s largest social media network was developing plans for a global digital currency. Then, after a while, it looked like Facebook shelved plans for it. Disputes with regulators around the globe had a hand in delaying and redirecting Facebook’s plans a bit. Instead of backing out, Facebook decided to strategize and launch a “different” global digital currency later in 2021, after rebranding the project to Diem.

Related: New name, old problems? Libra’s rebrand to Diem

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