Jed McCaleb has pioneered many industries during his career. He is an expert programmer, bringing innovative thinking to the tech world since the dawn of the internet. When downloading things from the internet was a new idea, Jed McCaleb created eDonkey, a peer to peer file-sharing program. The program spawned imitations and innovators, expanding the public’s perception of what is possible with the internet. Similar programs were featured prominently on national news stations during the early 2000s.
McCaleb also created Mt. Gox. It was a trading platform for a particular video game. It allowed players of the game to conduct trades, using real world cash to purchase in game items.
Now, always innovating, Jed McCaleb is a part of the blockchain world. He works with a company of his own creation called Stellar, providing banking services to people who didn’t previous have those services available for them. People in places like South-Asia and Eastern-Europe now have accesses to banking services, making online transactions easier and more affordable. Some of these locations had no options available at all for ordering products internationally.
According to lumenauts.com, due to McCaleb’s involvement in Stellar, he has been able to make a bold prediction. He believes that blockchain will successfully change the banking industry. McCaleb has already personally involved himself in the negotiations between banking institutions and blockchain.
Stellar aims to connect banking firms together, allowing them to operate with each other cheaper and faster than previously believed possible. With Stellar, a bank is able to send money to another building faster and cheaper than any other service is capable of.
McCaleb believes that the relationship between banks and cryptocurrency will evolve into a global payments network. He thinks that in the next 10 years a single network will exist that can handle any type of transaction imaginable, using any type of currency in the world.
Stellar’s cryptocurrency, lumens, as of January of 2018, is one of the largest cryptocurrencies in accordance to market capitalization.