Libra (Diem)

Libra, now called Diem, was a digital currency idea developed by Facebook (Meta) and its partners, aimed at providing a stable and accessible global payment system. Unlike cryptocurrencies like Bitcoin, Diem was designed to be less volatile by being backed by a reserve of real assets, such as fiat currencies and government bonds. Its goal was to enable faster, cheaper transactions across borders, especially for those without access to traditional banking. However, due to regulatory concerns and challenges, the project was eventually scaled back and rebranded, with its development largely halted.