7 FACTS ABOUT FACEBOOK NOVI-DIEM.
Have you heard of the Facebook-currency Diem? Well, it was previously known as the Facebook-Coin Libra, which is going to launch soon!
Do you wish to know about this stablecoin and how it can improve your life?
Then this article “7 facts about the Facebook Diem” grants you the perfect solution to your curiosity. All you need to do is: sit down and read carefully what we are about to tell you!
During the second quarter of the year 2020, it was on record that Facebook has over 2.7 billion active users making it the biggest worldwide social network. The world population is pegged at around 7.8 billion people, while the youth population is about 1.8 billion.
From this, you can see that apart from the under-aged and very old, almost every human in the world is using the Facebook platform. Many people use it for adverts, some use it for record-keeping, some for communication, many use it for fun, and lots more. As a result, the No. 1 asset, which makes the world go round, “money,” needs to be circulated on this platform.
The Facebook Diem, a stablecoin, fills in the Facebook platform’s money gap, as it will serve as Facebook’s currency.
This means that now you can buy and sell your goods/services irrespective of your current location, country, or local currency. Not just that, processing transactions with this currency works as fast as lightning. The only problem here is that it is not in circulation yet. Nevertheless, there is no need to worry as it will be made available in a short while. (To get information about Diem as soon as it’s ready: Click here)
7 THINGS YOU MUST KNOW ABOUT FACEBOOK DIEM
#1 Facebook Diem is a Digital Currency
Digital currencies are the money that is not tangible — you can’t feel or touch it. Then how can I use it? Well, you can transfer and account for these currencies by using computers and smart devices. For instance, Bitcoin has been in circulation for a long time now.
The truth is that once your money cannot be felt, it becomes a digital currency. So funds sitting in your bank accounts are all digital currencies. Just like your cash in banks, these currencies are cash in your digital wallets, which you can exchange by using smartphones, computers, and even cryptocurrency exchanges. Also, you can make it tangible by withdrawing into physical cash — as you do with the machine.
#2 Diem Is a StableCoin
Stablecoins are cryptocurrencies tied to an asset, making them more dependable and reliable because of their value stability.
Click NOW to know more about stablecoins.
The Facebook Diem is a cryptocurrency tied to the US Dollar, Japanese Yen, and Euro as collateral/security. Just like Bitcoin, this is a cryptocurrency, only that it is tied to an asset.
See: the the difference between the stablecoin and Bitcoin.
#3 Diem Formally Known As Libra
The Diem was previously called Libra in 2020, but with the launch that is to take place any moment from now, this crypto-currency is now referring as the Facebook Diem. This new development was a new proposal by the Facebook company — an American-based social media company.
#4 Facebook Novi Is The Wallet While Diem is the currency
A wallet is provisioned for everyone who purchases the Facebook Diem. This wallet houses the Diem crypto-currency till the wallet-owner decides on an exchange. So you will need to have a Novi wallet before you can buy or sell the Diem-crypto currency.
#5 Facebook Diem Will Be Available Soon
The Facebook Diem is presently not in circulation yet, but from all indications, this currency will soon be made available.
#6 Diem Crypto-currency Is Not Decentralized
This crypto-currency consists of the following currency percentage denomination;
7% of Singapore Dollar
14% to Japanese Yen
18% to Euro
11% for the pounds sterling
50% for the US Dollar
This means that, unlike Bitcoin, this currency has a strong security backup. Well, this was the previous plan, but as it stands, preference is towards the pegging of each stablecoin to an individual’s currency.
#7 The Former Libra Association Has Now Birthed Diem Association
The previous body “Libra Association” has now given way to the new Diem Association resulting from the name change of this project’
Expect the Facebook Diem anytime from now.
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