Meta’s digital wallet, which was designed for the cryptocurrency formerly known as Pound, will cease to function in September 2022.
- Meta definitely cloistered on monedero Novi.
- Users must withdraw their money by September 1.
- A full stop for Facebook’s cryptocurrency project.
- Will Meta move away from cryptocurrencies?
The tech giant Meta The matrix of social media platforms Facebook , Instagram y WhatsApp is closing its digital wallet Novi thus moving away from one of its biggest cryptocurrency-related efforts.
The company said Friday that it is finalizing the pilot program for the Novi and asked users to withdraw their money as soon as possible. “ Novi will no longer be available as of September 1st. “, reads the website of the wallet. “ It is important that you withdraw the remaining balance of your Novi account an account is essentially a whose purpose is to track the financial activities of a specific asset/ before this date. “, the firm said, offering users a choice between a bank account or cash.
According to collected The Vergeusers will lose access to their accounts starting in September and will no longer be able to add money to their accounts. Novi as of July 21. In the meantime, for those who forget to withdraw their money, Meta pointed out that “ will attempt to transfer “Your funds to the bank account or debit card added to the service.
– Novi (@novi) June 30, 2022
Meta (Facebook) closes a chapter
The announcement finally concludes the chapter of the failed, albeit ambitious, cryptocurrency experiment by Goal. Before the company was renamed , worked on a digital currency currency is a medium of exchange that defines value. of its own that was initially named Libra . That project was accompanied by the development of a digital wallet, specially designed to safeguard the token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. native of the then Facebook .
Mark Zuckerberg’s company had announced its cryptocurrency and its native wallet, named Calibra The project was rebranded in 2019, although those plans faced numerous hurdles due to reluctance from regulators in several countries around the world. As part of a shift in focus to satisfy regulators, the project was rebranded in 2020 to Diem and the wallet to Novi .
However, and despite the many efforts of Meta to go ahead with the plans, the project never took off. After three years, the company put an end to the project. Diem in February of this year 2022, when the organization in charge of the currency in question began selling the assets and intellectual property of the project.
The company had succeeded in bringing its digital wallet a place where cryptocurrency users can store, send and receive digital assets. to market an area or arena, online or offline, in which commercial dealings are conducted. in a pilot programme in October last year before closing Diem completely. Novi became a pilot for cryptocurrency-based remittance money transfer and integrated with test mode in WhatsApp en 2021, pero nunca llegó más allá de los Estados Unidos y Guatemala.
At that time, the s members of the U.S. Senate were unhappy with the evidence and asked Meta to close refers to the closing price; similar to the same term used in stock trading. down its project Novi citing that ” the company cannot be trusted to manage the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. “. The head of cryptocurrencies and Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. de Meta , David Marcus, who led the project, left the company shortly after of it.
Adiós Libra y Novi but welcome NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain).
Despite the fact that Meta is putting an end to its original crypto project, the company is not completely abandoning digital assets and their underlying technology. This year, as part of efforts to expand its business into the metaverse, Meta has begun to integrate functions of tokens no fungibles (NFT) on their platforms Facebook e Instagram .
“ We are already taking advantage of the years spent developing capabilities for Meta in general on Blockchain and introducing new products, such as digital digital technologies are these electronic tools that have the ability to generate, store or even process data. collectibles. “said the company in a statement sent a CoinDesk .
You can expect to see more from us in the Web3 space because we are very optimistic about the value these technologies can bring to people and businesses in the metaverse. .
In addition, as remember The Vergethe CEO Mark Zuckerberg also hinted a few weeks ago at the creation of a digital wallet. that could help the company manage and store “ digital clothing, art, videos, music, experiences, virtual events”. and other metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users. functions that Meta is already launching on the market.
It is worth noting that the final closing of Novi comes at a time of broader turbulence for the cryptocurrency industry, which is facing financial difficulties amid steep price declines in the market.
- Microsoft, Meta, Nvidia and other tech giants join forces to create standards for the metaverse
- Meta files trademark application for ‘Meta Pay’, a potential crypto-payment platform a place to buy, sell and store cryptocurrency
- Meta confirms it is leaving behind its cryptocurrency project, Diem
Article by Hannah Estefania Perez / DiarioBitcoin
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