The Libra Association has decided to completely rename itself Diem. At first, we observed how people in positions change, and now a new name. Dim brought real professionals in their field to leadership positions. Dahlia Malhi is the newly arrived CTO and Kiran Raj is the Executive Vice President of Development and Innovation. Through these efforts and with the help of FINMA, the association wants to create a secure financial payment system for individuals and businesses around the world.
The market is stable, but there are controversies over the state of the currency. Forex traders benefit from hosting advisors from best forex brokers 2020 .
The Libra and 100 members
The Libra Association had to have 100 members for it to finally launch. As a result, we see some reshuffling of frames in 2019. A number of companies have left it. There are now 27 companies on the list, with the most notable being Spotify, Facebook, Shopify, Uber, PayU, Coinbase.
The press release clarifies the goals of the project, even describes everything related to changes. He develops a platform for innovation in finance. It will become easier to make any payments. They argue that the operations will be simple and cost-effective. The project is designed to provide ease of use of banking services. You can read more about this on the Diem website. If you always have a mobile phone at hand, you can pay for everything non-cash. The currency will standstill because the rate is pegged to a reliable source. Cryptocurrencies call this phenomenon stable coin – a digital token backed by more mainstream financial tokens.
Release of Diem token and the G20
When the Diem token was released, it was not well received by the public. Under the old name, the G20 said that this was impossible since the national currency could allegedly suffer from this. The European Central Bank has confirmed that this could happen. In addition, Christine Lagarde commented in the announcement that in this case, the EU will no longer be autonomous in technology. Regulators can determine what amount of leverage is appropriate. This was done to reduce the risk that traders who do not understand the disadvantages of leverage take on. More about this resulated best forex brokers 2020.