Facebook Libra (renamed Diem) is an expensive system proposed by Facebook.
It is based on a licensed blockchain that is expected to power an ecosystem for digital payments and other financial services.
Its coin, called Diem dollars (formerly Libra), resolve to be backed by a basket of stablecoins and will launch in 2021.
The Libra Blockchain (renamed Diem Blockchain) is a lawful blockchain that forms this payment system’s backbone. So how is it dissimilar from other blockchains?
However, they explain their choice in the Libra white paper. There is currently no permissionless system supporting billions of people transacting on it from his perspective.
The Libra payment system (renamed payment system Diem) supports multiple stable currencies to a single currency linked to fiat currencies such as USD, EUR, GBP.
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