Jed McCaleb is experienced in a variety of different industries in the tech community. He has either created or worked on a variety of innovative technology for the internet and financial industries. With eDonkey, he created a system that made downloading a breeze. Mt. Gox, another one of his creations became the world’s first bitcoin exchange network. Now he is the CTO of Stellar, a blockchain company that McCaleb co-founded alongside Joyce Kim.
Stellar enables its customers to conduct international transactions at a cheaper cost than all competition. Stellar is able to accomplish this because of its decentralized structure. All of the transactions completed through Stellar are recorded on the machines of thousands of other users instead of a centralized server. This creates the safest, most secure method of transaction recording in history. Blockchain technology doesn’t only make transferring cash across borders cheaper, it does it faster than any other method available today.
This is the reason Jed McCaleb believes the future of cryptocurrency and financial institutions will one day be interwoven. Jed McCaleb made this bold prediction recently in an interview. McCaleb is able to made such an exciting prediction because he has been personally involved in the blockchain industry for years. Stellar was founded in 2014 and has grown exponentially since then.
“There will be a universal payments network that will operate,” Jed McCaleb prophesied in the interview. McCaleb says this system will utilize a public ledger and be able to work with cash from all over the world like euros, dollars, and more.
Stellar has been working for the past 4 years to accomplish this vision. Stellar is already implemented in IBM, one of the world’s biggest computer companies, but it is also implemented in countries all over Asia. Stellar has enabled these countries to participate in transactions that were previously impossible. People in these countries who were without financial services now even have access to things most people take for granted like savings and checking accounts.