How Jed McCaleb Is Improving the Financial World

Jed McCaleb is a man with an exciting career, doubling as a programmer and a cryptocurrencies enthusiast. Surprisingly, being diverse does not limit his understanding in any of the two fields. In fact, he is a renowned programmer for his outstanding jobs, and he stands out in the area of cryptocurrencies as well. The project eDonkey can be directly attributed to him, one in which he played a role in assisting in the creation of a peer-to-peer network for sharing files. He accomplished this with the help of Sam Yaghan, a renowned developer. In the area of blockchain cryptocurrency, Jed McCaleb is recognized for having played a role in bringing to existence the pioneer Bitcoin exchange in the world referred to as Mt. Gox.

 

Besides Mt. Gox and eDonkey, Jed McCaleb is also the man behind the creation of Stellar Development foundation. Although he is a co-founder, he played a significant part in its inception by researching to realize that visible flaws are creating a negative impact on the global financial system. Joyce Kim is the co-founding partner at the company. In some of the interviews attended, Jed McCaleb stated out that his idea for starting Stellar was upon the realization of the powers of Bitcoin and visualization of the numerous problems that could be solved after that based on its technology. On a more precise note, he realized and worked out how it could be used to connect different financial institutions across the world.

 

Through Stellar Foundation, Jed McCaleb aims at ensuring that people who unbanked at the moment in the world are connected. This figure amounts to about 2.5 billion people based on World Bank’s data. The linkage of financial institutions through Stellar reduces operational costs which in the end helps these institutions to offer ideal services to the highlighted unbanked population. Money transfer costs are believed to be extremely high due to the absence of ideal connections, a challenge being overcome through Stellar Foundation’s efforts.

 

Other institutions recognize the knowledge and experience of Jed McCaleb. For instance, he proudly serves as the advisor to MIRI, a company specializing in artificial intelligence. He has unswerving interest in technology, and his motive is always to make better improvements where they are needed.