The Involvement of Jed McCaleb in Technology
Technology is quickly evolving, and there is the need for keeping up the pace. Jed McCaleb is one person who believes in leveraging technology with the intention of doing away with inefficiencies and bettering the conditions in which human beings live. He first created a network known as eDonkey. The platform was known for its speed in sharing large files. He also came up with the very first bitcoin exchange app known as Mt. Gox. He did not stop at that. He continued with his technological innovations and created Ripple. In the year 2014, he established Stellar after noticing that the world was faced with difficulties as far as financial infrastructure is concerned. He also noted that many people had suffered a tremendous loss of resources.
Stellar is a financial network which is focused on improving the participation of every individual in commercial activities. Jed McCaleb is the head of the company’s technical team. Stellar gets the so needed support of a nonprofit organization known as Stellar.org. The sponsor is known for combining technology with up-to-date financial knowledge. It also plays an essential role in open-sourcing software. In case research regarding artificial intelligence is required, Jed is always ready to offer necessary advice to MIRI. The ideas of starting Stellar was conceived out of the interest that Jed McCaleb has had regarding Bitcoin. After understanding that Bitcoin is a distributed database and understanding that Bitcoin would solve a lot including connecting financial organizations, Jed McCaleb became more confident that technology would indeed transform the world.
It is the potential vested in Bitcoin that inspired the creation of Stellar. The mode of Steller’s operation is different from that of Bitcoin. While Bitcoin transfers value from one individual to another, Stellar brings various financial institutions closer. The World Bank’s statistics suggest that over half of the world’s adult population (2.5 billion people) do not have access to banks accounts and as such incur astronomical fees any time they need to send money to friends or relatives. Stellar aims at opening brand new sources for financial networks that will help financial institutions move money with much ease.
Listen to Jed McCaleb here: https://www.youtube.com/watch?v=MSKWoan6qgI