Jed McCaleb is the co-founder of Stellar Company that is dedicated to addressing economic problems. He started the company because he saw that the world’s financial system was broken and had many inconsistencies which led to many people missing out. According to him, Bitcoin technology will make it possible for the world to have universal payments network that will simplify things like fundraising and payment systems. He sees the technology changing how people use and transact money on a daily basis.
This network is what Jed McCaleb and his dedicated team of employees at Stellar are working on currently. The technologies will fast-track how people do transactions and will go a step further by allowing them to exchange even the traditional currencies like Euro. The network of cryptocurrency that Stellar is developing will be geared towards cross-border transactions.
To show that the idea is viable, IBM is one company that has embraced Stellar’s technology to develop a cross-border system that will be used by several big banks.
During one of his interviews with CNBC.com, Jed McCaleb said, “In the coming years, this technology will take over, and it will involve people having access to a type of ledger that they can see but not alter. The technology will work perfectly as it will not affect the traditional currencies.”
Another technology that Jed McCaleb is interested in and which to him has excellent potential is Initial coin offering. He said the Initial coin offering shows entire markets that the financial system has yet tap.
According to Autonomous Next, a financial research firm, nearly $9 billion of initial coin offering were raised in four years making it an excellent fundraising model.
Jed McCaleb also expects that stocks and other non-crypto assets will soon be digitized by the same technology. This digitization he says will lead to people wanting to transact even more making it impossible to monitor everything centrally but through decentralized protocols.
Jed McCaleb now serves as Stellar’s Chief Technology Officer. Other companies he has co-founded include Mt. Gox and Ripple. Stellar developed their crypto currency called XLM coins which have grown to be among the best cryptocurrencies regarding Market capitalization.