Kevin Weil, vice president of digital wallet products at Facebook and co-creator of the Libra token, now called Diem, is leaving the social media giant.

On the Twitter thread today, Will said he will leave Facebook in about three years to become head of product and business at space and analytics firm Planet Labs in San Francisco. One of the leaders of the social network’s digital portfolio division, formerly called Calibra, is now Novi, as well as being behind Facebook-backed Libra, now Diem.

“Instead, imagine the economic infrastructure built on a structured, open and interoperable protocol similar to the Internet – a protocol with low barriers to entry that would drive innovation around the world,” Weil said. “This is what we intend to create with Deem, and I still firmly believe in that mission.”

he added:

“The digital wallet that we manufacture at Novi, along with other compatible Diem wallets from companies large and small, has the potential to boost lives of billions.”
Describing himself as a “math and physics nerd” in elementary school, Will is said to have already been a bitcoin (BTC) fanatic, having studied cryptocurrency in 2015. He is currently on the board of The Nature Conservancy as well as Strava Inc. , Which is a social company that tracks media training.

The scale was first announced in June 2019 and faced regulatory and technical challenges on the roads. Some EU lawmakers have proposed measures to block the introduction of the token, citing concerns that it could undermine countries’ monetary sovereignty. The Swiss Financial Supervisory Authority has not approved the Diem payment system license, and the European Central Bank has demanded a veto from EU lawmakers over private stable currency projects.

The token hasn’t launched in any country yet, although Facebook has said they plan to release a stack coin once this year.

Source: CoinTelegraph