Last May, Facebook announced a major change for Calibra. The virtual wallet, the "software to manage Libra coins", was renamed Novi. Calibra becomes Novi, an acronym for the Latin words 'novus' and 'via', referring to a "new way of using money."

In April 2020, Libra finally announced the change in strategy. From being a stablecoin that cannot be mined to a kind of payment network in which it will be linked to the local currencies where it operates.

There will be a unique "currency" within Libra but it will not be a cryptocurrency as such, but a digital system made up of the already existing stable and regulated currencies. From being a rival of bitcoin to becoming an alternative to Paypal linked to the already established currencies. A change to suit the wishes of regulatory bodies, both European and American.

Libra claimed to have received the interest of 1,500 organizations to join the project, but not all met the eligibility requirements. The announcement came after the abandonment of the seventh company. And not exactly shallow names, but some of the most important monetary companies worldwide: Visa, MasterCard, PayPal, Stripe, Booking Holdings, eBay, Mercado Pago. In just over three months, Libra suddenly lost its main allies in the payments sector, leaving only PayU, Naspers' fintech arm.

During the first official meeting of the Libra Association it was concluded that "members can withdraw for any reason and, with some restrictions, transfer their membership plus 10 million tokens in Libra Investment shares to another eligible organization."

WhatsApp payments are already being tested, in the absence of the official arrival of the first Libra tokens

This week we learned that WhatsApp has publicly released its mobile payments in Brazil. Users in this country can already pay in stores, but unlike the Libra project, WhatsApp payments are associated with a credit or debit card from an entity affiliated with the service.

That is to say, for the moment WhatsApp payments are not based on the Libra digital currency, but on banks, as is already the case with other services. Specifically, WhatsApp works in Brazil with Banco do Brasil, Nubank and Sicredi.

A year has passed since the Libra project was announced and the only thing we have seen to date have been obstacles, doubts and casualties. According to the initial promise, we are close to the launch of Libra, we will see how users receive it and through what services it is offered. Facebook has enough clout to extend its own payment system, but its plan appears to be much less ambitious now.