Facebook Rebrands Libra
Facebook Rebrands Libra To Novi: Libra is a permission blockchain digital currency. It proposed by the popular social media platform Facebook gives users many from it. Also, Facebook is trying to launch this in the year 2020. So, the developers of this digital currency are Libra Association Facebook. This digital currency is an open-source model, which is licensed by Apache License. However, the money and network are not available yet for the users, although Facebook has released the rudimentary experimental code.
Also, Facebook is trying to launch in 2020, but coronavirus issues have made it more delay. So, this digital currency manages the project, currency, and transactions. Thus, it involves a member of the Libra association from payment, technology, and telecommunication. So, recently, Facebook has renamed its cryptocurrency wallet to Novi, which is the new name.
Novi Currency Updates
Thus, On Tuesday, Facebook has revealed its decision to change its name. So, Facebook’s digital currency will arrive in 2020, as per expectations. Earlier, the company’s essential component of its ambitious cryptocurrency is Calibra, and now it is Novi. Also, the president of Paypal has revealed that they are going to change the Calibra. Because it is close to the name of the Libra. Thus, it made Facebook change their digital currency name.
However, Facebook aims to launch the Novi to create some space for them in the payment service across the globe. This new blockchain technology will make Facebook reach their goal. So, the Libra network will make the users create their compatible wallet. With this, people will have a default wallet for all Facebook users to use for many things.
Libra Currency History
Earlier, Facebook has planned to launch this digital currency in 2019. But, many problems have raised against this digital currency. Also, Facebook has lost its high profile partners, which include Visa, Stripe, and Paypal, as they are entering into the launch of digital currency.
However, Spotify included in its list of partners. Thus, it gave them a large raise after it. Facebook tried to change its Libra into a decentralized network to Bitcoin. Also, it has some complaints regarding the similarities in the logos.