Jed McCaleb is a co-founder of the renowned Stellar Organization which was established in 2014. He serves in the organization as the head of technical development where his motivation stems from investing in the technology to help in the improvement of the human condition. McCaleb is also responsible for having created a file-sharing network known as the eDonkey which is one of the largest platforms of its type. He was also in the forefront of the creation of the first bitcoin exchange that was done in 2011 and Mt. Gox as well. What’s more, Jed also serves at MIRI as an advisor which is an institution that focuses on research to allow for mitigation of risks.
How Jed McCaleb Perceives the Future of Cryptocurrencies
Jed McCaleb envisions that future transactions will be conducted by use of technology. This will include making global payments, stock markets, and fundraising due to the high technology advancements. McCaleb who serves as the chief technology officer at Stellar has been involved with the crypto organizations such as the Mt. Gox Bitcoin exchange. Jed’s primary objective behind the cryptocurrency network is to create a network program that can be used for cross-border transactions.
Moreover, McCaleb believes that future global payment will be made using the Cryptocurrencies where there will be a public ledger that no one can interfere with. Again, this will also incorporate different currencies such as euros and dollars hence ease of usage. Currently, the IBM is in the progress of developing the global transaction system with some of the large banks in conjunction with Stellar’s network. Also, according to Autonomous Next which is a financial research firm, the initial coin offerings have increased to an equivalent of about $9 billion in only four years.
Further, McCaleb anticipates that even stocks which are non- cryptoassest so far, will be assimilated into the digital platform using the given technology. He adds that in 10 years to come that all equity will be integrated through the blockchains as the demand for trade will naturally demand centrally controlled exchange of currencies calling for cross-border payments. Additionally, the piloting of the digital financial markets is already in progress where an instance is the securrency based in Maryland in which investors can purchase stocks using bitcoins.