Diem (formerly known as Libra) is a permissioned blockchain-based payment system proposed by the American social media company Facebook, Inc. The plan also includes a private currency implemented as a cryptocurrency. The currency and network do not yet exist. The launch was originally planned to be in 2020, but only rudimentary experimental code has been released.The project, currency and transactions are to be managed and cryptographically entrusted to the Diem Association, a membership organization of companies from payment, technology, telecommunication, online marketplace and venture capital, and nonprofits. Before December 2020, the project was called "Libra". History Morgan Beller started working on cryptocurrency and blockchain at Facebook in 2017, and was initially the only person working on Facebook's blockchain initiative.Facebook vice president David A. Marcus moved from Facebook Messenger to a new blockchain division in May 2018. First reports of Facebook planning a cryptocurrency, with Marcus in charge, emerged a few days later. By February 2019, there were more than 50 engineers working...