Facebook hopes that the cryptocurrency it supports will start in 2021
Facebook hopes that the cryptocurrency it supports will start in 2021. After it was revealed last year, Facebook's cryptocurrency initiative has been a rollercoaster, attracting major opposition from policymakers, scaling down plans and a fresh new name. Initially known as Libra, the blockchain was intended to be operated by a non-profit group of various firms called the Libra Association. Facebook plans to introduce Calibra, which allows people to give each other this cryptocurrency. In the beginning, one Libra coin should be supported by a currency basket. However, regulators raised several questions about data protection and money laundering from the effect that Libra may have on financial stability. David Marcus, the head of Facebook Financial and F2 Financial, also known as F2 has stated that he hopes that both Diem's cryptocurrency and Novi's wallet, will launch in 2021. Before a recent rebrand Diem used to be called Libra. It is run by the Diem Association consortiu...