Facebook is the change of name of Gauges, the digital wallet with which he hopes some day to be used for access to Lb digital currencies, Novi. In a post on the company blog, said the new name was inspired by the Latin words “novus” and “through”, which means “new” and “path”, respectively. Novi Financial is the new name of the Facebook of the subsidiary that will develop the company’s digital wallet.
A new name, is just the latest in a series of changes that Facebook has made to its digital currency plans, which have faced intense regulatory pressure since its announcement last June. Although Facebook initially said that there would be a single Pound coin linked to a collection of national currencies, now plans to have multiple digital currencies linked to each of the currencies in addition to a combined Pound coin. Novi’s web site says that, initially, these currencies include the u.s. dollar, the pound sterling and the Euro.
Novi will be a stand-alone application, but also can be integrated with WhatsApp and Messenger
With the new name, Facebook is a digital wallet is also getting a new logo. Calibrate the original logo generated controversy when it was first announced due to its similarities with the start of Stream bank. Novi logo ditches this old design in favor of a stylized version of his name, with the Pound logo content inside of your “oh.”
Despite these changes, Facebook says its mission to Novi and the Pound remains the same: it wants to make sending money as easy as “send a message”. Plans to make independent Novi application, as well as a version that integrates with your WhatsApp and Messenger of messaging services that lets you send money to your contacts. Facebook says that you need to use a government-issued IDENTIFICATION to sign up for the service, but promises this transfer is going to happen, no hidden fees, and that users will have access to 24/7 chat-based support.
Facebook’s digital currency plans have had a bumpy ride since its announcement. It was announced the project with a range of partners from the worlds of finance on-line, e-commerce and technology. However, from October of last year, a quarter of a Pound of the original Association of 28 members had abandoned the most apparent regulatory problems. This year has seen the Pound of the Association to announce the new members, however.
A new name is one thing, but the challenges of creating a digital currency is not going anywhere. Facebook did not announce a release date for Novi or Pound as part of the announcement today, noting only that a “first version” of Novi will be released when the Pound network is available.