Facebook-backed digital asset Diem could launch in 2021

In the U.S., were named the expected Facebook launch date of testing a large-scale project.

Крупные рекламодатели объявили бойкот Facebook

The project of digital asset Diem (the previous name at the stage of development – Libra) may become a reality this year, closer to the end of the year – at least, this possibility is reported by experts of the American television channel CNBC.

The attention to Diem is enormous. The fact is that the project was originally conceived by the Facebook social network team, and the development of a digital wallet for the new digital asset was engaged in the former head of PayPal David Marcus. It is noteworthy that the news about Diem appeared when Marcus’ former employer, PayPal, took another step towards cryptocurrencies by integrating the conversion of digital assets into currencies through its Venmo service.

The project of digital assets Diem is formally implemented by Diem Association, which is based in Switzerland and previously had the name Libra Association. Even at the stage of development of Diem, that is, since June 2019, it faced a lot of questions to the developers from the regulators in the United States and the European Union. Curiously, there has been no official confirmation from Diem Association to CNBC yet, and the last update on the association’s Twitter account is dated December 15 of last year.

The latest known version of the Diem project talks about the possible launch of several types of stabelcoins, whose value is pegged to the U.S. dollar and some other currencies, as well as stabelcoin, which will have a multicurrency “basket” at its core. According to CNBC, a “pilot project” will be rolled out toward the end of the year to work out transactions with Diem by individuals.

While Diem’s organizers may have wanted to run a “small test run” and not draw much attention to the project, the launch of a digital asset that is somehow shadowed by Facebook will certainly be a landmark event in any case.

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Roman Mikhailov
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