When it comes to Bitcoin and Jed McCaleb his vision of the future could look stellar for the 2 billion plus people who have no banking relationship in the developing world. McCaleb has made a name for himself in the world of technology and entrepreneurism with Bitcoin-based endeavors. When it comes to discussing the pitfalls or positive elements of blockchain technology, cryptocurrency, and Bitcoin, McCaleb is quite involved in this relatively new niche. McCaleb has had quite a lot to say about his newest cryptocurrency-based endeavor titled, Stellar Foundation.
McCaleb got started in computer programming and building Internet platforms building in 1999. Jed McCaleb came up with the idea to start the peer-to-peer (P2P) file-sharing software program, eDonkey. This P2P based network of nodes allowed for the downloading of files. At the time that Napster.com was available, so was McCaleb’s eDonkey website at the time of the new Millennium.
Moving ahead to 2018, and blockchain, cryptocurrency, and Stellar.org are what Jed McCaleb is focused on. As far as Bitcoin and Jed McCaleb are concerned, McCaleb developed the first centralized exchange for trading cryptocurrency called Mt. Gox. At its peak, Mt. Gox accounted for almost 80 percent of all cryptocurrency trades that were happening. McCaleb sold Mt. Gox a short time after building it. McCaleb still owns a 12 percent stake in Mt. Gox. For McCaleb, being on the forefront of technology trends as an entrepreneur is a key reason for his success, notoriety, and forward thinking.
Jed McCaleb sees blockchain technology as one day being the force behind universal processes and methodologies, which will also involve stock trading and financial transactions. The Stellar Development Foundation was created by Jed McCaleb, and his co-founder, Joyce Kim to oversee the building out of the Stellar protocol. McCaleb and Kim were looking to answer some of the big issues involved with Bitcoin, like scalability. As a non-profit organization, Stellar fits into this new business sector as an open-source, financial network for banks and financial entities that want to use the open source model to work with the 2 billion bankless in developing countries.
Visit the Money2020 website to learn more about Jed McCaleb and his blockchain technology.