The report said that Facebook has been hit with threats of legal action due to the rebranding of the Libra stablecoin project to ‘Diem’ from a finance application of the same name. It has been reported that Facebook announced its plan to rebrand Libra on December 1, with the firm claiming the new name would help the revamped project distance itself from the intense regulatory pushback faced by Libra when it was announced last year. However, Chris Adelsbach, the co-founder of

The Libra Association is changing its name to the Diem Association on December 1, according to a press release. It has been reported that the shift is likely in the hopes of turning the page on Libra’s PR. Facebook initially announced its planned global stablecoin Libra in June 2019 to an immediate regulatory uproar that has swamped the project since. However, Facebook’s involvement has proved especially controversial. The new name makes use of the Latin word for “day,” best

Bison Trail, the blockchain technology and staking service provider, has announced the launch of its Query and Transactions Clusters (QT) protocol to help developers build on Facebook’s Libra network. It has been reported that Libra QT offers a bridge between Libra’s pre-mainnet and off-chain systems by allowing dedicated off-chain infrastructure to read and write data to the blockchain. Aaron Henshaw, the co-founder and Chief Technical Officer (CTO) of Bison Trails, said: “L

The central bankers and finance ministers from the United States, Canada, Japan, Germany, France, Italy, and the UK, also known as the Group of Seven (G7) said that it would halt global stablecoin projects pending appropriate regulatory oversight, as no global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory, and oversight requirements. It has been reported that countries representing the world’s largest economies said in a dr

Libra, the Facebook-backed blockchain project, has added a new major industry partner Blockchain Capital, one of the largest venture capital firms in the blockchain industry. It has been reported that alongside the other 26 association participants, Blockchain Capital will now be working to create a “more equitable payment system” with Libra. Bart Stephens, the co-founder and Managing Partner at Blockchain Capital, said: “Leveraging blockchain technology to improve financial

Facebook-owned digital wallet Calibra rebranded itself as Novi while sharing new details about the project. A representative for Novi said that the primary reason for the name change was to avoid the confusion with the Libra cryptocurrency: “When we announced Libra and Calibra last June, we wanted to demonstrate that Calibra, the digital wallet, was closely linked to Libra, the global payment system. Both brands were born out of the same vision, to give people more access to

The Libra Association on May 6 announced the appointment of Obama’s former under secretary for terrorism as its first CEO. Stuart Levey served as an under secretary for terrorism under the administrations of George W. Bush and Barack Obama. He focussed on the enforcement of all U.S. anti-money laundering and counter terrorist financing laws by the Financial Crimes Enforcement Network (FinCEN). Libra, Facebook’s cryptocurrency project, is bringing on as chief executive Stuart

The Calibra Research team of Facebook presented a Distributed Auditing Proofs of Liabilities, or DAPOL, protocol designed to make improvements to the existing distributed audit procedures. The presentation was made recently at the 3rd ZKProof Workshop led by Konstantinos Chalkias, stating that their protocol builds upon and improves existing methods by introducing additional optimization and enhanced privacy. According to the team, their method has considerable advantages ove

Cypherium blockchain joins the Microsoft for Startups program as a part of becoming the company’s blockchain-as-a-service, or BaaS, offering in the coming months. Cypherium blockchain uses a combination: Proof-of-work or PoW HotStuff consensus algorithms (used by Facebook’s Libra project) Proud to be partnered with @Microsoft to explore new #blockchain use cases with @Azure @msft4startups . Read more @Cointelegraph : https://t.co/o30gXfLuXT — Cypherium Blockchain (@CypheriumC

Facebook’s Calibra team have published a research paper outlining a new method for Byzantine fault tolerance, or BFT, testing. Termed as “Twins”, it comprises of a lightweight method for testing a network’s BFT implementation. The testing method runs two instances of a node with the same identity to emulate Byzantine behavior “including equivocation, double voting, and losing internal state.” Calibra co-creator David Marcus, tweeted: One of my greatest joys at work is getting

Some of the biggest names in Facebook’s embattled Libra Association have joined a rival stablecoin project, which touts its mission as the promotion of financial inclusion using the blockchain. Libra Members Hedge Their Bets by Joining Rival Stablecoin Project #CryptoCurrency #blockchain https://t.co/Js7X3d4uo4 — Petronella Cybersecurity and Digital Forensics (@PetronellaTech) March 12, 2020 On March 11, it has been reported that the project, dubbed the “Celo Alliance for Pr

Shopify, the e-commerce giant, has joined the Libra Association, a network of founding members supporting Facebook’s stablecoin project Libra. Canadian E-Commerce Giant Shopify Joins Libra Association This is great news. I studied this 2 weeks ago at HBS with 180 peer CEO’s. Libra Facebook is a fascinating case study. $HIVE.V $GROW https://t.co/iuQC0sYerr via @cointelegraph — Frank Holmes (@bulldogholmes) February 21, 2020 On February 21, it has been reported in an announcem

The world is currently witnessing the fourth industrial revolution or Industry 4.0. Meanwhile, the debate on stablecoin vs e-money is growing as the dynamics of industries “is characterized by a range of new technologies that are fusing the physical, digital and biological worlds, impacting all disciplines, economies and industries, and even challenging ideas about what it means to be human”. Market players are now turning to crypto-assets and the underlying blockchain techno

Major global economists credit Facebook’s Libra with pushing the world to start reconsidering the United States dollar as the anchor currency. Facebook’s Libra made everyone reconsider the status of the dollar as anchor currency, officials and economists agree at the WEF #CTdoesDavos https://t.co/SdP5AU1u04 $BTC $ETH $XRP $BNB — CryptoGryphon (@cryptogryphon) January 24, 2020 On January 23, it has been reported a panel at the annual World Economic Forum (WEF) in Davos that o

The Libra Association, the stablecoin introduced by Facebook in late 2019, has formed a new committee to guide the network’s technical development. Trent Partridge #globalcoin #facebook #crypto currency https://t.co/6wha8vxMWW — Libra Coin News – Trent Partridge (@LibraCoinNews) January 17, 2020 On January 16, it has been reported that the Libra Association has voted to establish the five-member Technical Steering Committee which comprises leading experts from various firms

European Union’s Finance Ministers agreed that Libra’s ongoing organizational snags and run-ins with regulators continue into December that Libra cannot be launched in the EU until concerns are adequately addressed. EU Finance Ministers Place Defacto Ban on Libra https://t.co/IoIELV4Rxp Liked? Encourage my job with tips. https://t.co/MTp73QOUPi Or give your liked, I will be very happy too. pic.twitter.com/Zq56Z5E4ZL — CryptoGirl news🗯 🚀🌛⚡️ (@CryptoGirl_News) December 8

Steven Mnuchin, the Secretary of the US Treasury, has no issue with the launch of the Facebook-led Libra project, as long as financial rules are followed. Libra Launching early https://t.co/SAagOq9cIl — Bit Coins Bank © (@BankBitCoins) December 7, 2019 On December 5, it has been reported by Bloomberg that Mnuchin is ‘fine’ with Libra launch. He said: “I’m fine if Facebook wants to create a digital currency, but they need to be fully compliant with financial secrecy and anti-

The CEO of South Korean internet giant Kakao, Yeo Min-soo, said that Klaytn blockchain is similar to Facebook’s Libra although it is way ahead in its development. On Nov. 28, the Korea Herald reported on Min-soo’s views on Klatyn’s development during the first Klaytn Governance Council Summit held in Seoul. “Facebook’s Libra launched last month with aims to recruit 100 partners. Libra is taking a similar approach to ours, but it has yet to experience the milestones we have cr

David Rutter, the CEO of R3, a blockchain firm, has ridiculed the way that Facebook introduced its yet-to-be-released Libra stablecoin. On November 18, it has been reported by Financial News, which Rutter said that the announcement of Libra this summer was “ridiculously stupid”. “The way they rolled it out … it was just so in your face,” #R3 CEO David Rutter said at a recent company conference, according to #Financial News. “There’s a lack of understanding.”https://t.co/4oGe4

As the Libra stablecoin project continues to face a hostile audience of regulators, Facebook launches a new fiat payment system called ‘Facebook Pay‘. On November 12, Facebook announced that it is introducing Facebook Pay, a payment system that is designed to facilitate payments across Facebook, Messenger, Instagram, and WhatsApp. Deborah Liu, the Vice President, Marketplace & Commerce at Facebook said: “People already use payments across our apps to shop, donate to causes an