Cryptocurrencies
Facebook Renames Blockchain Division After Libra Confusion
- Calibra group building a digital wallet is now called Novi
- Rename could change perception of Facebook’s involvement
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Facebook Inc. has renamed its blockchain division, called Calibra, to distance it from the Libra digital currency that Facebook created. The blockchain team is building a digital wallet for Facebook’s apps, which will eventually hold the Libra digital currency, but Facebook won’t control the coin.
“People were confusing Libra and Calibra all the time,” said David Marcus, Facebook’s head of blockchain. “In hindsight it’s hard to blame them.”