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I was looking at Facebook Diem, I know it's coming from failed project Libra. It's not only about coin, they are building the whole infrastructure: blockchain, wallet...
For starters it was meant to be integrated into Facebook's ecosystem: FB, IG, Whatsapp and be used for money transfer.

What do you think about it? Does it have future? What are potential usages of Facebook's blockchain?

I have heard many reports that have stated that the Facebook-backed project is planning to launch a pilot stablecoin Diem program in 2021. The project was first introduced by facebook in 2019 as libra, but quickly met with backlash from international regulators. It was renamed Diem in 2020. It has been suggested that central banks' interest in launching digital currencies is partly triggered by their anxiety over the threat for the financial system due to a stablecoin operated by facebook, and honestly I am waiting for their entry into the field.

Modernization means that Facebook is slowly developing a path of development towards collaboration with blockchain, it is even possible for blockchain to expand even more widely in the crypto world, and as explained by Marcus;
I've formed a small group to start with how to get the most out of Blockchain on Facebook," Marcus said in a post on his Facebook page. This comes months after Facebook CEO Mark Zuckerberg announced that he had begun investigating the potential use of cryptocurrencies on Facebook. Blockchain is the underlying technology behind the cryptocurrency made famous by Bitcoin

Diem doesn't exist yet, and I don't think we'll see a successful launch in the foreseeable future. There are a couple of serious obstacles Facebook is facing. One is that they want to make it 100% legal, complying with all the concerned authorities and making sure they get the green light before they proceed. That's not how big cryptos were created. Another problem is closely related to this one, and it's that Facebook is a tech giant, and it faces antitrust lawsuits now and then. So the US authorities don't want Facebook to have their own currency because Facebook already has so much power over the lives of people in different aspects, and adding valuable data about people's purchasing behavior is a huge privacy issue, even on top of the issues that already exist with Facebook. They don't want to give green light to something that might eventually become like Mr Robot's E Corp (https://mrrobot.fandom.com/wiki/E_Corp).

Their first project, Libra was halted by regulators, what do you think they will do if Facebook releases another of their token? Right, the same, regulators will not allow because they will be more powerful in their eyes. So I doubt that this will be successful, on the contrary, I haven't heard about this Facebook Diem. Not sure what they need to do to please this regulators though, they are in the lose-lose situation here.

I don't think it's a good idea if it's centralized, private and opaque. They will need to be regulated by National governments and good laws (assuming it's centralized) else you will be giving a single person or few people too much power over the entire world where Facebook has its presence. You know the world is too dependent on money and he who controls the money will likely control those that are dependent on money.

Compared to Libra there are small details about this Facebook Diem, it's off the radar of many regulators the work is still in progress but compared to Libra coin,


Experts believed it will pass the test this year and will eventually launch but we never know, there are some sectors that take this differently

Let's see what will be the reaction of the whole community if they finally launch, it's a great opportunity for investors nobody want to miss this



Source : Facebook-backed Diem aims to launch digital currency pilot later this year (https://www.cnbc.com/2021/04/20/facebook-backed-diem-aims-to-launch-digital-currency-pilot-in-2021.html)

Formed online group?

Obviously it will boost some crypto users to use social media facebook again. Possibly they will add some payment methods or services that will help this expand and grow. I know that they wanted adoption really quick. Knowing the previous Libra, Im sure only few changes has been made in order to launch this one. Only those failed aspect of the regulations concerning the project is being stop but the purpose I have no doubt its same as libra.

The Libra / Diem stablecoin project faced very strong regulatory resistance precisely because it was wanted to be linked to Facebook, which allowed for a large amount of confidential information about billions of people to be concentrated in private hands. Therefore, at a hearing in the US Senate, Mark Zuckerberg was forced to declare that his stablecoin would have nothing to do with Facebook.
In the future, they tried to get away from the influence of US regulators and tried to release it under the new name Diem in Switzerland this year. However, the problem arose even in the fact that there was already a campaign in England that had its own token called Diem. Now little is heard about Libra / Diem and there is no clear deadline for its introduction either. There is even a doubt that she will ever be able to appear.

For sure. A lot of big techs backed Diem projects such as Spotify, Uber, Shopify, etc^{[1] (https://www.cnbc.com/2021/04/20/facebook-backed-diem-aims-to-launch-digital-currency-pilot-in-2021.html)}, which couldn't be more clear for them to form alliances to make a centralized digital currency. I bet the only thing they didn't want to implement Bitcoin in terms of payment gateway is because they all have less control over Bitcoin. Because of that, I'm sure the project will be able to gain and gather more data for mass surveillance.

I know that Diem stated they will split the social data and financial data for their users. But well I doubt that will happen.

It has really been a long time and I have forgotten about this Facebook Diem or whatsoever. There was a time I used to follow it up closely, but after a long time and everything that has happened, I kind of lost interest. At some point I heard that they have been able work it out ,but I don’t know whether that’s true or not, though they later changed their name.

As for what I think about it, right from time I have always believed that it is going to be huge. Why I believe that is because Facebook itself is a huge platform, and there are lots of businesses that operates on their platform, so if they release this cryptocurrency that they are planning to release I believe that it is going to be adopted by a lot of their users who will help in pushing it forward. They already have the platform, so it’s not going to be much of a difficult process.

I heard a rumor that Facebook will soon add NFT feature to its digital wallet Novi. If they can add NFT to the Diem blockchain, definitely that's a good thing.
Last August, on the occasion of the 10th Birthday celebration of the messenger app, they added various new features. I've gotten a $10 worth of birthday cash gift box in the messenger app.
As far as I know, Facebook wants to add Novi Wallet to the Messenger app so that users can easily exchange digital money and gift boxes with each other without any cost.

All potential will definitely be utilized for now, including Facebook, Istagram, telegram and others, if there is a good and neat opportunity in preparing it, this infrastructure will be developed by them in carrying out new long-term programs or projects, to perfect projects the past is not so optimal, but when it comes to the future, all new projects being prepared will have the same chance, depending on how the team prepares the new program.

Based on its background and backup, well we can say that it has a future because of its own platforms.

Most tokens do need their own platforms to grow and not just pop out of nowhere having those gazillions of supply. But we'll still see how it goes since their first plan have failed and have to replace it with a new name.

Well it's not relying at all in mining from what I got from Wikipedia. Now I am confused on these whole Libra thing as I thought the project just died out back in 2019, due to lack of updates in the news.
It's certainly centralized as everyone inside that association (Diem Association) would be able to process transactions through what they called "permissioned blockchain". Not a fan of those. I never even planned to invest Libra back in the days, not even a tiny bit of thought.

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Source: Diem(Wikipedia) (https://en.wikipedia.org/wiki/Diem_(digital_currency)#Implementation)

If it can be released, I am sure it will have a future. It is a coin owned by Facebook, one of the biggest social media companies. As a trusted company, Facebook should be serious to build its crypto coin. There is no way that Facebook to create a crypto coin with has no future. They will ruin their reputation and risks the popularity of Facebook if they brave to release a useless coin.

About how Diem will function, just read carefully its whitepaper: https://www.diem.com/en-us/white-paper/#cover-letter

Not expecting that much because it would be still on centralized aspect of things which is really that not surprising.Every company could create their own coin as they can or make out projects

that do in terms of payment system but honestly this isn't something that in too far on those casual payment system which are reversible and can be traced up.

If ever they would integrate bitcoin then that's an another part of the story but creating their own then this isn't something special.

There’s still no announcement yet and hopefully they can manage to escape those regulations, better if other companies outside US will partner with Facebook to make this possible. Having a such payment options in Facebook can bring a lot of good adoptions on both system, hope to see it as well.

There are probably two opinions that can be predicted, the first is that the team is still in the process of improving Diem Facebook for a better future in the project. And the second project has been abandoned because there is no progress in the process or has been abandoned.

Since Facebook announced plans to launch Diem, an alternative to the Libra project, the coin has not appeared on the cryptocurrency map because of objections from global financial regulators. But I think the problem is when as well as when is the right time to have the appearance of Diem in this field, what I feel from this market after many years about the large corporations they are really seriously looking at the blockchain field as one of the future solutions to make people's lives better.

Maybe at this time, the Libra project is still in development (regulation) to get support from the parties in terms of its use and cannot be said to have failed 100% because there has been no official statement from the owner. I am sure, all aspects of social media will integrate and do this by looking at market developments and demand in the world of the money market.

https://coinmarketcap.com/currencies/facebook-libra/

I also just tried checking on CMC and found that they are already here, maybe it will take more time to see their entry. Since I personally think this is really one of those names that have generated a lot of interest from people over the years, maybe the solution they are aiming for will be more meaningful and effective when together. It's recognition from the way the government treats the industry.

It is.

They've stopped the Libra coin and changed it to Diem. The news tells that Facebook is about to integrate it soon with its platform and as well as other platforms that Facebook owns like whatsapp and instagram.

I like the new things that are starting to be launched, but I prefer to learn first about the development of the project, the wallet that was initially integrated into the Facebook, IG and WhatsApp ecosystem is a new blockchain that is starting to be prepared in the future as an addition to other blockchains.

Blockchain technology is something revolutionary and does really have real use case or something that can really be integrated into the current system we are having on and this is the beauty
of it and doesnt only focus out on payment or transactions but also about with transparency but talking about these platforms or companies then its sure that it will really be still that
centralized and i dont really see any interest if ever they would make their own coin and wallet on making out transactions in between users or something like that.

The beauty of a system that can be integrated is a true blockchain technology, all focus on payments or transactions and transparency, all of this will still happen that way, so making something new needs to be perfected again, but it will be very interesting if this continues to be developed in the future.

We may argue that it has a future because of its own platforms, based on its history and backup. Most tokens require their own platforms to flourish and not appear out of nowhere with billions of dollars in supply. But, because their original strategy failed and they had to replace it with a new name, we'll have to wait and see what happens.

And I haven't seen much hype on this new name, unlike, when they introduced Libra. But maybe, they are not yet in full blast of promotion because they are still working in progress with this new one. But when it comes to adoption once they launched it, I guess, a lot will get on board because they already have millions of users in the first place. So they need to deploy this project that is "dumb-friendly" because many users are not yet crypto oriented individuals.

One of the things I have come to understand is, when a good platform or organisation is building something good related to crypto it will be in the waves, it will be around every corner of the crypto space and so on, now about what Facebook is working on, after the issue with Libra it seems people moved their attention from them thus no one is even realising they are still working on something. To be frank I am just getting to know about this, that is to say, many crypto channels are not even paying attention to it, therefore I can't say it is solid or not, until they start showcasing what they are working on.
Lastly, owing to what happened to Libra people might still be skeptical in anything relating to Facebook and so on, nevertheless until they launch then we will know if there is a chance of it having unique attributes or not. This further goes to show that, crypto and everything relating to it is becoming hard to ignore by top organisations.

We are hearing about these for a very long time. What change they are expecting with the change in name from Libra or Diem. Libra was having issues with regulators and will the name change make any difference to the issues they faced with the regulators. I am not even following what they are going to do with their plans. It is better to wait for them to launch something and make a comment.

Given the fact that Facebook has entered into a partnership with Circle and Paxos, and this can only mean that work on its own stable coin is suspended. It is obvious that such a decision may be caused by solving a problem with regulators who are afraid of Facebook issuing its own stablecoin. But this cannot guarantee that Facebook will not return to creating Diem again.

The team is solid and trustworthy since the keyroles is from the facebook team, with the great networking of the people to many corporates, its could be a good future for Diem after its launched.
Imagine if the facebook ads would give discount if its payed by Diem coins, it will be huge hype and very nice usecase.

If there’s no regulatory pressure with Facebook before, I’m pretty sure they’ve started to adopt cryptocurrency but of course there’s still time for this and honestly, it can happen soon as facebook continues to grow and they can’t afford to ignore blockchain in the long run. If they’ll create their own token that’s fine, and if they accept bitcoin much better.

not sure if libra is a fail project because the last time i checked them they are still in development mode . they changed its name to diem and that could be part of its development .  what i think of this project ? well i think this project is a sleeping giant , it can be harmless for now but once it starts operating it can easily dominate .
obviously it does have a future and for its use , you already describe it earlier .

Based on the information I got that Diem is not a Facebook project, but Facebook is only a supporter. If Facebook really wanted to run a blockchain, I think it would be the biggest blockchain. And the potential for success of such blockchains is greater than any other. Because Facebook users worldwide reach 3.3 billion people. At least 30% of facebook users will try the Diem blockchain. But I'm not sure about the success rate, because Libra is also a record for us. Even the information we got, Visa and Mastercard have revoking the support for the Diem project.

I know about some fail attempts to create social media on blockchains. I don't remember how they worked, but the main thing is that they were not popular and as a result they had to close their projects. But I don't think that Facebook wants to move to blockchain, maybe they consider creating their own blockchain just for comfortable transfering money between users of Facebook. Actually, facebook is well-known through over the world, so its token must be successful to my mind.

After Libra's failure now comes Diem, well the truth is this project isn't launched yet but I expect good outcome from the project anyways because using  crypto payment through a popular social media platform (Facebook) is very cool, yes FB users will gladly embrace this, I hope this won't fade away just like Libra did

If Diem is pursued and will be successful, unlike Libra, considering Facebook to be a popular platform already, this means that FB is going to engage with crypto and encourage people to use Diem on all of their platforms, a currency intended inside FB's platforms, good idea, but with the amount of users in FB, I think this will be somewhat a rough implementation if it's rushed, some people will tend to be confused over this.

On the other hand, the symbol looks nice, waves, this used to be Libra but now called as "Diem", although I don't know if they'll change the symbol as well.

The Symbol:  ≋

It is obvious that any stablecoin type of deal, or even a payment processor that allows crypto would be basically a great thing for the crypto world. This way we end up with something that would be great for all of us, and it brings crypto to a lot of people. People who are in third world nations would be able to move money around via social media without the worry about anything else.

Everyone has social media, starting an instagram account or facebook account is free and you would basically be giving your information anyway, and even more than what you give as KYC as well, you are sharing everything about you, even what you are doing or what you did. So a crypto currency from facebook would be a good thing for us for sure.

It feels too restricted to me but still lets wait and see what happen but actually I think is more like platform coin only on Facebook and its partners So basically from their intro and notes I think it cant be a coin we can use on exchange or have full freedom of utility from it So My guess is just another libra till the government lay down on crypto and some rules are established

A centralized and a stable coin? looks like a meh to me since you can't get anything from it when you try to hold it. only good for those people who are looking for an alternative to make things easy for them when they wanted to hodl their cryptocurrencies at a stable price. they can convert it to this coin temporarily and not having to worry about the volatility of the price while they are away from the market. More stable coins are good as long as they came from a trusted source and are back by huge companies such as Facebook.

Even though I am not a fan, I think Facebook along with Instagram and Whatsapp are social media platforms big and influential enough for Diem to have a future. Of course we are not expecting the future of Diem to be a huge success. But it will certainly create a big community of followers, probably big enough for it to be considered successful. As to whether it will last long or not, I am not sure. Perhaps it won't. But this will become an additional call for more tokenization in the business industry.

I do not think much about those projects because I think they are still under development while we are not seeing too many announce or update from them.
Maybe someday, they will announce it to the public, but I do not think much about them once again.
If they force people to use their tokens or follow what they want, I will leave them and not use them anymore.
I only think they are still working on that project, and maybe they can make crypto bigger since they have thousands of members using their services.
But it is not good if they force their members to use their tokens to use their service.

although coin libra and block explorer are ready, I'm not sure the libra project will really come after a lot of criticism and rejection from various parties.too heavy for that

I think, Since Facebook announced plans to launch Diem, an alternative to the Libra project, the coin has not appeared on the cryptocurrency map due to objections from global financial regulators. But I think the problem is when and when is the right time to have a Diem appearance in this field, what I feel from this market after so many years about big companies they are really serious about seeing the blockchain field as one of the future solutions to make a living society is better.

If we see the concept is almost the same as Libra. Maybe it's true from what you say that all of this stems from the failure of Libra. And Facebook wants to develop a new concept with a new name. Diem, a Facebook-backed digital coin is expected to launch later this year, albeit in a much more limited form. Diem is currently in talks with Swiss financial regulators to obtain a payments license, an important step that will put the organization further on the path towards its digital currency project.

     Personally, I love the idea behind the project. The only problem is that the difficulty it will face as it starts getting permissions to operate and all. Regulators will be tight about such matters and even with the approved ETFs, regulators will still aant transparency over such matters. Their main reason will be the so called protection of the users (although plausible, I doubt they care to such an extent) and of course the dough that's rightfully due for them in their eyes. Face book will probably focus more on improving utility and innovation.

Well, it does remove the real purpose of Decentralization but i suppose it's still good things, I mean one of the biggest company was implementing Blockchain even though it's centralized but it's still good option to introduce the Blockchain to the global market especially facebook, instagram, whatsapp or any facebook branch platform where we know most of people right now using it and through Diem people can understand how powerful the Technology.

Many failed projects in the past are trying to convert today, by applying the new patterns they apply, blockchain infrastructure is the basis for those who want to grow, with careful preparation they have developed, and Facebook, Instagram, Whatsapp are the right ones as media currently for them to take advantage of, but to transfer money I think it will be difficult for them to develop the ecosystem.

Diem is a project supported by Facebook, as previously Facebook also plans to launch Libra. But we know that Facebook is a big company but Libra until now has not arrived. Even many who predicted Libra to be a big blockchain, it failed in the end. Maybe it also has the same fate as the Diem project. There are even reports that Visa and Mastercard are pulling out of support for the Diem project.