What changed
Diem: a careful design that did not become a network.
The paper is a permissioned payment system and a reserve. The project was wound down. A design is not a licence.
Original thesis
A known set of members, a reserve, and a wallet. The point was a currency that moved without the open-membership machinery of Bitcoin.
What changed
Regulators did not accept the launch as proposed. The association wound the project down. The paper is still the right citation for that design. It is not a current product.
What remains useful
Stable value with a reserve and a permissioned set is a live category. The lesson is that the legal seat of the issuer is part of the design, not a later form.