Jed McCaleb Talks Blockchain and Banking

Jed McCaleb is the co-founder of Stellar. He is also the brain behind the Mt. Gox bitcoin exchange. According to Jed, there will be a development of universal payments network as a result of the tremendous blockchain technology. Jed also revealed that the current status of the coin was proof that the financial system was being under-tapped. In the long run, any form of a non-crypto asset including stocks is bound to be digitized. Jed McCaleb brings to the table many years of experience, knowledge, and expertise to the financial industry. This is evident in his involvement with the renowned Mt. Gox bitcoin exchange. Currently, he serves as the CTO at Stellar whose goal is to create a platform for cross-border payments through a cryptocurrency network. In an interview with CNBC.com, Jed McCaleb revealed that within a few years, the underlying blockchain technology and cryptocurrency would gain momentum and increase in value. He continues to say that time will come when the world will embrace a payment network incorporating global payments which will not be easily tampered with. Interesting to note, Stellar is committed to tackling the same problems. This is made possible where the network is allowing a transaction to take less than five seconds which is less than the time taken to transact a bitcoin.

 

The network also permits an individual to transact currencies that are government-based which include the euros and the U.S. dollar. IBM and various banks have already embraced the Stellar network in developing a platform where cross-border payments can be easily and conveniently transacted. Based on research conducted by Autonomous Next, a financial research company, in just about four years the preliminary coin offerings have increased in value to almost $9 billion.

 

About Jed McCaleb

Jed McCaleb holds the position of chief technology officer at Stellar. As a result of his expertise and skills in the technology, Jed leads his technical development team successfully. He is a firm believer in embracing technology to minimize cases of inefficiency in the industry. Mr. Mccaleb spends a better part of his time with tech-savvy individuals to spur up ideas that will improve the financial infrastructure globally.

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