Facebook Diem thoughts

[umbara ardian]

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.

[Gayong88]

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?

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.

[robattfield]

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.

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.

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.

[livingfree]

Is the development of the diem coin still going on? If yes, it will bring the future of Facebook payment system with blockchain. I hope that there are no obstacles to regulations that hinder the development of this project as happened before.

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.

[the ghabbar]

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 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.

[Mahanton]

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 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 ghabbar]

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 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.

[raji1995naya]

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.

[Twinkledoe]

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.

[Shallow]

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?

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.

[ene1980]

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.

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.

[tvplus006]

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.

[speedforce]

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

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.

[Scripture]

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.

[imstillthebest]

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 .

[mbakruroh]

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?

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.

[magnum1010]

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.

[Williamm07]

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

[dupee419]

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:  ≋

[darewaller]

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.