Jed McCaleb, put simply is a co-founder of Stellar, a developmental foundation which promotes global financial access, literacy, and inclusion through providing access to low-cost financial services through the development of technology as well as networking relations which turn into partnerships. In looking at an article on McCaleb, concerning his prediction for bitcoin in banking, we can learn of his stance on the trends coming ahead in relation to how the cryptocurrency will change global payments, as well as fundraising, and various stock markets. In the past McCaleb has been known for his creation of the Mt. Gox bitcoin exchange. Today he is the C.T.O. at Stellar, the company which he also co-founded. According to an CNBC.com post, at Stellar, McCaleb works to develop a cryptocurrency network for international, boundary crossing payments. The article goes on to talk of how McCaleb believes that in the coming years the technology, or blockchain behind bitcoin will become increasingly widespread in use. His vision is a universal payment network, which encompasses a public ledger to streamline transaction settlement times. The company Stellar, at which he is the C.T.O., is currently working to bring this vision into reality with transaction times advertised at 5 seconds or less. In addition to this feature, the Stellar network, due to its streamlined transaction times is able to allow users to exchange government-backed currencies such as the U.S. dollar, and the euro, at a quick rate.
In taking a closer look at the life of Jed McCaleb through his website, we can see that he is passionate about reforming the world’s financial infrastructure, as he feels as though too many people are left without resources. We go on to learn that he co-founded Stellar with a man named Joyce Kim, whom which he tasked out to solve this financial infrastructure problem. McCaleb, as mentioned in his LinkedIn profile, is a knowledgeable individual when it comes to computer science, as well as finance. He was the founder of eDonkey2000, a peer to peer file sharing network which was one of the first of its kind. His network went on to become the first which offered multi-source downloading, as well as Kademlia DHT, a distributed hash table for decentralized peer to peer transactions.
More information about McCaleb can be read here: https://www.financemagnates.com/cryptocurrency/news/stellar-ceo-want-real-enough-dot-com-bubble-pops/