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Libra Association: Diem already existed

A London-based fintech protests over the appropriation of his name

On the first day of December, the Libra Association has decided to change its name to Diem Association. A decision that came as a surprise and recommended by the negative aura that has characterized the Facebook cryptocurrency project since the very beginning.
According to observers, the new name would be due precisely to the desire to indicate the arrival of a new day and the opening of a second phase of the project. In which the clouds that from the beginning have gathered up Pound, now Diem, should finally be dissolved, thanks to a series of moves aimed at eliminating any possible reason for friction with the political world. However, it seems that clutches are destined to be a constant for Mark Zuckerberg's virtual currency.

mark zuckerberg facebook - Libra Association: Diem already existed

Diem already exists in the FinTech sector

A London startup, Diem, is considering legal action against the Diem Association and Facebook. To report it was Sifted, a publication that deals with FinTech, according to which the reason for the complaint is to be found in the use of a company name already registered.
Of course, ironic comments on what is happening are being wasted right now. In fact, a simple Google search would have been enough to avoid a mishap which risks ending up in a courtroom or, in any case, pouring further negative publicity on the project. And to give a lot, unexpectedly, to the London startup. Which, in the meantime, it seems determined to ride the wave with great decision.

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The statements of Geri Cupi and Chris Adelsbach

Commenting on the reasons for Diem's ​​possible legal action was Geri Cupi, founder and CEO of the company operating in the FinTech. According to which the concern stems in particular from the fact that the company may be harmed by the confusion that could result from Facebook's decision, with a very significant negative impact on its growth. Diem, in fact, uses an algorithm in order to evaluate customer articles, who can make money in exchange for the items sold.
A concern entirely founded and shared by Chris Adelsbach, a major investor in the company. Who stated that just not having done a search to ascertain the existence of a company called Diem in financial services denotes the arrogance of Facebook. The same accusation made by politicians from all over the world. Therefore to be taken into due account, if Diem, ex Libra, really intends to reach the finish line in a short time.

A slip of no small importance

It now remains to be seen how yet another hitch will be resolved. Which, however, seems to be very dangerous for Diem Association. Precisely because it could help instill in public opinion the impression of the same arrogance denounced by Adelsbach.
An arrogance that, after all, is very reminiscent of the one explained in Libra white paper, the publication that worried observers considerably about Facebook's real intentions. In which plans were made known excessive at the time. Such as to arouse a strong reaction from the political world. In particular by Maxine Waters, president of the powerful US House Financial Services Committee. Which placed itself across the road of the then Libra, soon finding support from many other subjects. United by the concern for a digital currency which even seemed capable of being able to cloud the imperial power of the dollar.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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