February 8, 2023

Apparently one of the world’s largest technology companies is feeling the effects encryption crashvery.

Novi, the cryptocurrency digital wallet that debuted Meta in 2021, is in its final stages. for every Novi’s websiteUsers have until September 1 to obtain their information and their remaining encrypted balance from the site. as such CNBC He noted that this extinguishes the final little faint flame from Meta coding efforts over the past few years.

Simply put, Novi was supposed to be a secure way for people to send and receive cryptocurrency, and at one point it was supposed to work with Diem, the Facebook-backed cryptocurrency that Life began in the name of Libra in 2019 before Get the brand Later. It never happened because in February of this year, Dim collapsed.

Even without the ability to issue currency Made by its own parent companyNovi had no chance. The site never came out of beta to a full 1.0 release. But the rookie Mark Zuckerberg and his associates. Perhaps (and perhaps still is, especially) related to cryptocurrency, the idea of ​​a decentralized blockchain currency doesn’t seem to have a home within the walls of Meta anymore.

In case you’re under a rock, the cryptocurrency crashed hard in 2022. It’s not the first time this has happened, but even crypto news site Coindesk He confessed That feeling is different this time. It seems that a complex combination of COVID, war, inflation and everything else has made it difficult for the dream of a digital dollar to sustain itself for the time being.

In regards to those who have lost their livelihood due to the current landscape… perhaps this is ultimately for the better.

See also:

Cryptocurrencies are giving up. What is the matter?

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