Stellar Development Foundation CTO and Co-founder and technology visionary, Jed McCaleb envisions an age where digital currencies hit the mainstream market. He’s the mastermind behind the financial industry’s first ever Bitcoin exchange called “Mt. Gox.” Is Stellar the remedy for society’s widespread economic depression fueled by a lack of resources and an inequitable financial infrastructure? The open-source platform launched in 2014 has an ambitious agenda to enumerate the world’s “unbanked.” Its agenda proffers equal opportunities that benefit every consumer, including low-income earners. A community-governed financial network, “Stellar” thrives on building solid partnerships by motivating economic inclusion and participation. Its master developer Jed McCaleb also broke ground with eDonkey, another transformational framework that pioneered multi-source file sharing in 2000. He was joined by Match.com’s Sam Yagan on this project. As these two entrepreneurs continue to revolutionize modern economics, McCaleb remains committed and determined to improve transaction experiences globally.
Jed McCaleb was joined by former Cornell and Harvard University top alumna, Joyce Kim to design Stellar’s infrastructure. While he took charge of the company’s technical development side as CTO (Chief Technology Officer), Kim assumes the role of director. The cryptocurrency innovator explained how “Stellar” bridges connections between a global network of financial institutions and its community. In turn, creating opportunities to help the over 2.5 billion unbanked become real investors in their future. “Stellar” aims to offer cost-effective currency trading option independent of unreasonable banking requirements and exorbitant transfer fees. Jed McCaleb strongly advocates for developing nations with an urgent need to create affordable financial solutions for its unbanked population. The infrastructure extends a safe banking environment for its members with multiple network security implementations, including Stellar Consensus Protocol or SCP. And power is entrusted to the community instead of the government and financial institutions.
Prior to launching Stellar, crypto billionaire, Jed McCaleb founded the bitcoin holding technology startup called Ripple. With his extensive experience and knowledge of bitcoin technology and its infrastructure, he decided on a safer approach. Having learned from previous attempts and the long history of trust issues. McCaleb realized that consumers needed information and resources to learn the true value of digital currencies. In turn, even the odds of it becoming a standardized commodity. Besides his executive obligations to Stellar Development Foundation, he’s an advisor to MIRI(Machine Intelligence Research Institute). It’s a research collective that strives to improve user experience and ergonomics through technological innovation.