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Facebook’s digital currency, Facebook’s latest version, called Diem or Diem, was formerly known as libra or libra, and the new process will be launched with the digital wallet called Novi, which will be launched together and operated this year.
Through this post, we’ll get to know Facebook’s new digital currency, so follow up with us.
What’s a digital currency?
A digital currency is an encrypted currency through which anything can be bought on websites, including social media sites such as Facebook.
Some electronic services can also be obtained through the digital currency.
This currency is used by the user’s access to an electronic digital wallet.
These are very high cryptocurrencies in order to avoid any problems in electronic financial transactions.
This currency has received considerable attention recently, especially after the emergence of what is known as digital currency circulation, which is for profit.
Bitcoin is one of the first digital currencies to appear in 2009, and was a process by which services and goods are purchased from websites.
This currency is also characterized by a very strong Block Chin cryptocurrency, which features a detailed presentation of all information on the financial transactions of the users of the currency.
This is in addition to the protection system that the system provided by protecting users’ data and information during their electronic dealings.
Bitcoin currency is also easy and fast to use, using it directly between parties to an electronic transaction without the need for an intermediary such as banks.
or a financial entity that oversees such financial transactions, so bitcoin is a decentralized currency.
Bitcoin is also expected to double its current value to about $100,000 at the end of 2021.
Facebook Digital cryptocurrency:
Facebook’s current digital currency was previously called Libra, and the site decided to change its name to Dem in order to easily obtain approvals for issuing the currency from the regulators specializing in the order.
Facebook faced many obstacles when it released its digital software Libra in 2020.
Facebook faced many obstacles when it released its digital software Libra in 2020.
Many regulators, such as central banks, have feared the impact of this digital currency on global financial stability.
That is through their control of the global financial system and global monetary policies, which threaten the financial privacy and security of States.
The advantages of Facebook’s digital currency:
Eliminating a lot of bank charges on remittances, both domestic and global.
The existence of a competent authority for this process is the calibra company, which gives more credibility and confidence to the currency by making it possible for the user to return in case of any problem or information concerning the currency.
The possibility of buying Facebook & apos digital operation using more than an electronic method of buying like Mastercard, giving the currency a cash cover.
Facebook & apos digital currency has a cash reserve in order to ensure its stability for most of the time, and in the event of its disruption, this is linked to this cash reserve.
How do I get Facebook’s digital currency?
For Libra, Facebook’s current digital currency, it can be obtained by downloading an online app from calibra.
This application is available to all smartphones regardless of their operating system type.
The currency can also be purchased from the application using any electronic means of payment such as e-credit cards or the means of payment of telecom companies such as Vodafone Cash.
Vesok’s new digital currency, Dime, has not yet been cleared as to how it will be acquired or purchased, as it has not yet been posted on the website, but it is expected to be this year.
Libra’s currency turns into dime
Libra has changed the name of its social media – backed digital currency Facebook to a new name, Diem Niturk.
The reason for this was to increase the independence of the currency, and thus obtain approvals for its issuance and operation from private regulators and institutions such as the central banks of States.
Libra and Facebook have faced many objections to the issuance of Libra since its release in April 2020.
This is because regulators fear that the currency will dominate the global monetary system and violate the privacy of States.
The name change was also due to Libra and Facebook wanting to make Facebook’s new digital currency simpler and easier to use in electronic transactions by its users.
Dime Digital Currency
Dem Digital is Facebook’s new digital currency, which has its own association or company.
This institution has made a lot of adjustments to this digital currency, which was formerly called Libra.
The word dime means in Latin Day, the purpose of which is to issue a digital currency supported by the United States dollar.
The currency issuer also stated in 2020 that the digital dime will only be in operation after approval by the Swiss market watchdog.
It also stated that the digital dime is expected to operate in 2021.
Price of Facebook’s digital currency (Dime rate)
So far, Dem digital has not been run on Facebook social media sites such as Facebook, Instagram and others.
However, at the end of 2021 it is expected to be $100,000.
The Libra digital operation was priced in January 2021 at US $41,000.
This has caused some financial actors to make a big fuss about the risk of this currency to the global monetary situation.
This has made it prohibited in some countries, such as Germany and France, which have issued a joint official statement on the prohibition of the use of digital currency.
The idea of issuing this type of currency is a sovereign act that threatens the financial stability and privacy of States.
China has agreed to work or use this digital currency, supported by the Central Bank of China, and there is no problem with this.
At the end of our acquaintance with Facebook’s digital currency, both new and old, it can be said that, although many countries are afraid about issuing this type of currency, it will make users of Facebook’s social media sites more connected, by having a single digital currency between them, backed by American countries, which will make it easier for them to buy and sell online, especially in the current circumstances of the science that is being learned after the spread of the Corona virus.
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