Jed McCaleb, bitcoin pioneer and cryptocurrency expert, has created eDonkey, the largest file sharing network, and Mt. Gox, the first bitcoin exchange. His latest development was Stellar. As the co-founder and expert tech developer, there is no denying that Jed McCaleb’s work behind Stellar.org is well…stellar. This non-profit company allows people to move money across borders at almost no cost. McCaleb recognized that too many people were being left without resources and that our financial infrastructure needed change. Many people living and working in the US send money to their families living in other countries and are restricted by the process of sending money overseas. The work of Jed McCaleb through this program has had a positive impact on these peoples lives.
Stellar’s mission is to fight poverty around the world and to help people reach their full potential, by granting access to low-cost financial services to people of all social classes.
On March 21, 2018 Jed McCaleb talked with CNBC‘s Evelyn Cheng about the future of banking and cryptocurrency. McCaleb believes that in the near future there will be a universal payment network, that will let people use the currencies they are already familiar with. This will make money exchange throughout the world much simpler and could help out a lot of struggling families. The work that Stellar does to make that a reality is being noticed by other companies, IBM is currently using Stellar to work with large banks to make sending money out of the country an easier task.
McCaleb also told CNBC that he believes that all equity will eventually be tokenized. Most people are not familiar with things such as digital tokens and bitcoin, but Jed McCaleb sees the world of tokens connecting to the traditional financial markets. The work of Stellar has already had such a positive impact on the world and our financial infrastructure, and the company’s plans for the future are only getting better.