Stellar was founded in 2014 by Joyce Kim and Jed McCaleb with one goal in mind: to correct the financial industry. Stellar is a blockchain company that focuses on the banking industry; Stellar is working with financial organizations to lower the cost of banking.
Now their CTO and co-founder is making a very bold prediction. Jed McCaleb believes that the relationship between blockchain and the financial world will soon be much stronger, possibly even completely coexistent.
“In the future I think it’s pretty clear to me there will be a universal payments network that will operate,” McCaleb said. The knowledge he has gained from his career in the tech world puts some validity behind his prediction.
McCaleb is the creator of the world’s first bitcoin exchange, so he was relatively quick to hop on the crypto-craze. When McCaleb lends his knowledge to a project, it always comes out for the better.
Another example of his expertise being put to good use was eDonkey, one of the pioneers of peer to peer file sharing.
These examples of McCaleb knowing precisely how the tech world would unfold make his opinion vital to the cryptocurrency community.
Stellar uses the latest blockchain technology to assist banks with their transactions. Stellar enables banks and other financial organizations, such as charities with the possibility of conducting much cheaper transactions than previously. The savings is passed onto the customer; Stellar enables people who previously could not afford financial services to use them. Stellar is working all over the world but primarily focuses on the undeveloped and developing worlds. Stellar has already made much improvements to areas in the South Pacific. Thanks to Stellar, citizens have access to goods and services that may not have been available in their country before.
About Jed McCaleb
Jed McCaleb has worked on a wide variety of projects in the tech world.
As previously mentioned he created Mt. Gox and eDonkey, but he has also been involved in many more organizations. He has worked in the media production industry, the video game industry, filesharing efforts, but his work in the cryptocurrency industry has gained him respect that no other project could.