Jed McCaleb interview at CNBC talks about a new universal payment system

Jed McCaleb is one of the early innovators in the blockchain technology. He joined the industry in 2010 after reading an article about bitcoin. The article, detailed information about the possibilities which would be created by the new cryptocurrency and Jed McCaleb took the initiative to go deeper and look for the benefits he would realize applying this technology. He subscribed to bitcointalk which is a forum that had about 200 followers by then. So, he was among the first people to know about bitcoin. He started seeking information about the digital currency hoping that he would benefit from the benefits that it was creating in the market.

As per CNBC, Jed McCaleb joined the industry at a time when not many people were even concerned about the technology. When he joined the first thing he did was creating an exchange platform known as Mt. Gox. This is platform that was unique from the rest in the industry at the time. Mt. Gox could be used to transact with no need of a second party as it happened with other platforms. Mt. Gox succeeded in changing the industry in a short time. It was being used to complete 80 percent of all the transactions involving bitcoin. In developing this technology, he managed to become one of the key people in the blockchain industry. His subsequent contributions have been great also. He has worked with various organizations until now that he has decided to start something of his own known as Stellar.

Jed McCaleb is the co-founder of Stellar. Stellar technology is hoping to make a payment system that will allow cross-border transaction people with cryptocurrencies will be able to transact with them just like any other currency. The payment network is currently being developed by IBM using the Stellar concept. Large banks in the world have been incorporated so that they can facilitate the transaction.

According to McCaleb, he sees a great a future for blockchain technology. He is predicting that in the next one decade, there will be a universal payment system that will facilitate transactions of all currencies and even non-crypto assets. This payment system will change the whole banking industry significantly. Connect with Jed McCaleb on LinkedIn.

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