Facebook has changed the Calibra brand to Novi after implementing reforms in the development of the Libra wallet. Calibra is a subsidiary of Facebook and is the developer of the Facebook cryptocurrency project. He is in charge of Libra. Facebook has not changed its long-term commitments and goals, despite the change in the Calibra brand.
On May 26, 2020, Facebook announced a change in the brand's Wallet to brand Novi. Novi is inspired by the Latin words "novus" meaning "new" and "via" meaning "path". David Marcus; One of the creators and a member of the board of directors of Libra stated that due to the "confusion of users" about the previous version of the project, it was necessary to change the name.
Facebook claims that after launching Libra, users will be able to easily send a message, send their money. Novi users will be able to use Novi's digital wallet in much the same way as Facebook and WhatsApp messaging software as an standalone program.
There will be no covert change in the process of sending, receiving or withdrawing money, and the transfer of assets will be processed in a timely manner. All users of wallet Money will be authenticated with a national ID, and fraud protection measures will be enforced nationwide.
Facebook announcement
It is expected that the initial version of the Novi Digital Monitor will be released at the same time as the launch of the Libra Network. Initially, wallet Money will only be available to users in certain countries. This product has features that make the global money transfer process a real-time and secure activity.
Facebook Libra Project Changes
Following Facebook's unveiling of the Libra cryptocurrency project, there has been widespread debate about the project among cryptocurrency activists and legislators around the world. opposition from lawmakers in various countries has altered the goals of the Libra project as "a single digital currency worldwide."
The tightening of legislation has led to the withdrawal of a number of partners in the project. This has led many cryptocurrency activists to doubt the future success or failure of Libria.
Although Facebook has reviewed the main features of the project several times, it is still working to launch Libra. In fact, Facebook has made significant changes to the original version of Libra, as many activists have dubbed the new version of Libra "Libra 2.0".
In fact, instead of introducing a new currency (based on previous project objectives), Libra intends to create a portfolio of different currencies, each supported by different governments.
Also, the possibility of everyone's participation in the Libra network has been removed from the previous roadmap of this project. Libra currently includes a closed system in which only members approved by the Libra Association can work on the network.
