Jed McCaleb has long been a force to be reckoned with in the world of technology. McCaleb cut his teeth with eDonkey2000 back in 2000. This was an early network that allowed people to share files with one another. More recently, McCaleb has made his mark in the world of blockchain technology.
McCaleb founded famous Mt. Gox bitcoin exchange. Initially envisioned as a Magic: The Gathering trading site, when that failed to catch on he changed directions. In 2010, Mt. Gox began functioning as place where people could convert bitcoin to dollars and vice versa.
According to Jed, he spends most of his time working on Stellar.org. Founded with Joyce Kim, this nonprofit seeks to revolutionize the way finance works around the world. Stellar is powered by the same blockchain technology that underlies the world of cryptocurrency. McCaleb sees blockchain as the future for a universal payments network.
McCaleb’s ultimate goal for Stellar.org is to process payments in both crypto and fiat style currencies. He envisions a network that can even be used to trade securities like stocks and bones. The goal date for this revolutionary network? In 2028, just under a decade from now.
Jed McCaleb was also behind the Ripple payment protocol. In just a few years, Ripple became widely accepted. It’s unique in that it utilizes open source code. Used by UBS, Santander and other financial institutions, Ripple is unique among crypto companies. Unlike Bitcoin, it doesn’t use blockchain technology.
Stellar.org is a lot like Ripple in function. There are two key differences. Firstly, this time McCaleb seeks to take advantage of blockchain technology. Secondly, McCaleb hopes to provide an alternative for people in underdeveloped countries. Billions of people around the world have no access to banks.
McCaleb has never been one to think small. Born in Arkansas, he briefly attended UC Berkeley before dropping out and moving to New York City. He loves working and feels blessed that his job brings him into contact with some of the finest minds in the world.