Diem is a blockchain-based stablecoin payment system proposed by Meta. It incorporates three aspects to create a more inclusive financial system: 1) A secure, scalable, and reliable blockchain as the technological backbone; 2) Diem Coins backed by a reserve of assets consisting of cash or cash equivalents and very short-term government securities; and 3) Governance by the independent Diem Association and its subsidiary Diem Networks, responsible for developing and operating the payment system.