perspectives

Why we believe in Diem (Libra)


We joined the Diem Association in October of 2019 as an initial member because we see the potential to drive massive adoption of crypto around the world

Why we believe in Diem (Libra)

By Joe Lallouz · Apr 24 2020

Bison Trails’ mission is to provide secure infrastructure supporting multiple protocols for network participants, to strengthen the entire blockchain ecosystem, and democratize access to the decentralized future. We joined the Diem (Libra) Association in October of 2019 as an initial member because we see the potential to drive massive adoption of crypto around the world.

More importantly, we believe that accessible payment systems built on innovative blockchain technology can address real issues such as the cost and slow speeds of international money transfers. The Diem Association—as both a member-driven organization headquartered in Geneva and as a ground-breaking payment system is well-positioned to enable greater participation in the global financial system for some of the estimated 1.7 billion adults who remain “unbanked without an account at a financial institution or through a mobile money provider.”1

The Diem Association’s progress this year is truly noteworthy: the Diem payment system will now include the option of single-currency stablecoins, along with the multi-currency Diem Coin. This design change enhances the utility of the Diem payment system and means it will be more accessible in countries around the world with greater support for a range of domestic use cases.

Believing that financial inclusion and innovation do not come at the expense of compliance, the Diem Association continues to develop a robust framework on combating illicit activities, among other risks to the system. All of the project’s design changes are detailed in an updated whitepaper.

Remaining a fully permissioned blockchain network will require the protocol, and the Association’s governance, to be representative of the diversity of its member organizations. We believe the best outcomes on projects of this ambitious scale are achieved through open and transparent collaboration, when groups of mission-aligned participants collectively govern and secure the network. Every single member of the Association has the same voting rights, and shares equal responsibility for governance and securing the network by running a validator node, including Bison Trails and Facebook. All members have the same standing.

Bison Trails is excited to see the growing developer community’s open source contributions to the Diem blockchain. Engagement with a global developer community is an essential ingredient for a protocol’s success.

We are energized by the Diem project’s momentum. Bison Trails is honored to be one of the few crypto-native initial members of the Diem Association, and we remain humbled to collaborate with leading technology companies, forward-thinking social impact partners, and marketplaces with global reach, to realize Diem’s vision.

—Joe Lallouz, CEO of Bison Trails


Joe Lallouz, CEO of Bison Trails

About Joe Lallouz

As CEO of Bison Trails, the pioneering blockchain infrastructure company democratizing access to emerging networks, Joe leads a diverse team of experienced engineers and protocol experts who are deeply committed to securing and building distributed systems. Since December, 2019 Joe has served as one of five elected members of Diem’s Technical Steering Committee, bringing valuable expertise to the project, while overseeing and coordinating the technical design and development of the Diem payment system.


About Bison Trails


Pioneering Blockchain Infrastructure®

Bison Trails is a blockchain infrastructure platform-as-a-service (PaaS) company based in New York City. We built a platform for anyone who wants to participate in 25 new chains effortlessly.

We also make it easy for anyone building Web 3.0 applications to connect to blockchain data from 33 protocols with Query & Transact (QT). Our goal is for the entire blockchain ecosystem to flourish by providing robust infrastructure for the pioneers of tomorrow.

In January, 2021, we announced Bison Trails joined Coinbase to accelerate our mission to provide easy-to-use blockchain infrastructure, now as a standalone product line. The Bison Trails platform will continue to support our customers. With Coinbase’s backing, we will enhance our infrastructure platform and make it even easier to participate in decentralized networks and build applications that connect to blockchain data.


Footnote


  1. 1 https://globalfindex.worldbank.org/

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