Making transfers as simple as sending a message! Libra wallet developer Calibra renamed to Novi

"Making transfers as simple as sending a message!" This is the slogan of Calibra, the wallet development company dedicated to Facebook's Libra project. In a recent update on Facebook's stablecoin project Libra, David Marcus, head of Calibra, announced on the evening of the 26th Taiwan time that Calibra has been renamed to "Novi".

Why the Name Change to Novi?

David Marcus stated that they decided to rename it to Novi because the name Calibra was too similar to the name of the Libra payment network, and they wanted to create differentiation and clarity. He mentioned that "Novi" will just be one of the many wallets on the Libra payment network.

It is believed that due to the strong skepticism towards Facebook's dominance in the Libra project, including concerns from regulatory bodies about Facebook's privacy violations, there were many worries. Therefore, this renaming reflects their effort to break away from this impression.

What Does Novi Mean?

The name is derived from two Latin words, "novus" meaning new, and "via" meaning way. This symbolizes Novi providing a new way to send, receive, and secure Libra currency. You can also see the presence of the Libra symbol in Novi's logo.

What is the Relationship Between Novi and Libra?

According to Novi's document description, the Libra Association operates separately from Novi and Facebook. The early open-source software of Libra was contributed by a group of engineers from Novi and complies with the open-source standards of the Libra Foundation.

Although Novi is a subsidiary of Facebook and Facebook established the Libra Foundation and the Libra blockchain, the final decisions made by the Libra Foundation require the agreement of other members of the Libra Association. According to Facebook, their governance rights are the same as other association members.

How Does Novi Work? And It Has No Fees?

It is a digital wallet that has not been officially launched yet. According to the official website, once Novi is live, registration only requires government-issued identification. You can download it from Google or Apple's App platforms or use it directly through WhatsApp and Messenger: "Making money transfers as simple as messaging."

Novi is designed for the Libra network, allowing you to store and pay with Libra currency, which can circulate globally. Moreover, it does not charge users any additional fees. In its planning, it not only supports peer-to-peer payment services but also integrates with merchant services.

Recently, Facebook's announcement of the Facebook Shop project has driven its stock price to new highs, making founder Mark Zuckerberg the world's third richest person. With the development of Libra and Novi in the future, this internet giant is likely to experience significant growth once again.