Zuckerberg’s Diem Association Sold

Silvergate Exchange Network (a subsidiary of Silvergate Capital) confirmed it was buying assets and intellectual property from Mark Zuckerberg’s Diem Group and hopes to launch a stablecoin by the end of the year.

If you remember, Diem was going to be Facebook’s stablecoin. It was not to be, mostly because it would have made Facebook the de facto world bank. Understandably, actual banks (and most governments) around the world had a bit of an issue with that.

Get ready for a bunch of CBDCs (central bank digital currencies) and a fair number of independent international stablecoins. (If the jargon is making you sad, check out our blockchain resource page and glossary.)

Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications, co-founder of Metacademy, and the CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and CNBC and writes a popular daily business blog. He’s the Co-Host of the award-winning podcast Techstream with Shelly Palmer & Seth Everett and his latest book, Blockchain - Cryptocurrency, NFTs & Smart Contracts: An executive guide to the world of decentralized finance, is an Amazon #1 Bestseller. Follow @shellypalmer or visit shellypalmer.com.

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