Topic: Facebook Diem thoughts (Read 453 times)
Diem is a project supported by Facebook, as previously Facebook also plans to launch Libra. But we know that Facebook is a big company but Libra until now has not arrived. Even many who predicted Libra to be a big blockchain, it failed in the end. Maybe it also has the same fate as the Diem project. There are even reports that Visa and Mastercard are pulling out of support for the Diem project.
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?
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?
Many failed projects in the past are trying to convert today, by applying the new patterns they apply, blockchain infrastructure is the basis for those who want to grow, with careful preparation they have developed, and Facebook, Instagram, Whatsapp are the right ones as media currently for them to take advantage of, but to transfer money I think it will be difficult for them to develop the ecosystem.
A centralized and a stable coin?
Well, it does remove the real purpose of Decentralization but i suppose it's still good things, I mean one of the biggest company was implementing Blockchain even though it's centralized but it's still good option to introduce the Blockchain to the global market especially facebook, instagram, whatsapp or any facebook branch platform where we know most of people right now using it and through Diem people can understand how powerful the Technology. 
Personally, I love the idea behind the project. The only problem is that the difficulty it will face as it starts getting permissions to operate and all. Regulators will be tight about such matters and even with the approved ETFs, regulators will still aant transparency over such matters. Their main reason will be the so called protection of the users (although plausible, I doubt they care to such an extent) and of course the dough that's rightfully due for them in their eyes. Face book will probably focus more on improving utility and innovation.
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?
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?
If we see the concept is almost the same as Libra. Maybe it's true from what you say that all of this stems from the failure of Libra. And Facebook wants to develop a new concept with a new name. Diem, a Facebook-backed digital coin is expected to launch later this year, albeit in a much more limited form. Diem is currently in talks with Swiss financial regulators to obtain a payments license, an important step that will put the organization further on the path towards its digital currency project.
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 think, Since Facebook announced plans to launch Diem, an alternative to the Libra project, the coin has not appeared on the cryptocurrency map due to objections from global financial regulators. But I think the problem is when and when is the right time to have a Diem appearance in this field, what I feel from this market after so many years about big companies they are really serious about seeing the blockchain field as one of the future solutions to make a living society is better. 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?
although coin libra and block explorer are ready, I'm not sure the libra project will really come after a lot of criticism and rejection from various parties.too heavy for that
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 do not think much about those projects because I think they are still under development while we are not seeing too many announce or update from them.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 someday, they will announce it to the public, but I do not think much about them once again.
If they force people to use their tokens or follow what they want, I will leave them and not use them anymore.
I only think they are still working on that project, and maybe they can make crypto bigger since they have thousands of members using their services.
But it is not good if they force their members to use their tokens to use their service.
Even though I am not a fan, I think Facebook along with Instagram and Whatsapp are social media platforms big and influential enough for Diem to have a future. Of course we are not expecting the future of Diem to be a huge success. But it will certainly create a big community of followers, probably big enough for it to be considered successful. As to whether it will last long or not, I am not sure. Perhaps it won't. But this will become an additional call for more tokenization in the business industry.
A centralized and a stable coin? looks like a meh to me since you can't get anything from it when you try to hold it. only good for those people who are looking for an alternative to make things easy for them when they wanted to hodl their cryptocurrencies at a stable price. they can convert it to this coin temporarily and not having to worry about the volatility of the price while they are away from the market. More stable coins are good as long as they came from a trusted source and are back by huge companies such as Facebook.
It feels too restricted to me but still lets wait and see what happen but actually I think is more like platform coin only on Facebook and its partners So basically from their intro and notes I think it cant be a coin we can use on exchange or have full freedom of utility from it So My guess is just another libra till the government lay down on crypto and some rules are established
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.
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.
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: ≋
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
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.
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?
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.
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 .
obviously it does have a future and for its use , you already describe it earlier .
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.
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.
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.
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