A prediction from a longtime cryptocurrency world developer indicates the stock markets, fundraising, and global payments will in future change through technology. Jed McCaleb is known to have influenced immense growth in some of the crypto organizations considered great today. Currently, Jed is developing a cryptocurrency network that would make cross-border payments easier. As the Stellar chief technology officer, he knows how to make this happen. According to McCaleb, the underlying blockchain technology and overall cryptocurrency will gain traction in future. These are some of the views he has shared via CNBC.com. He notes that the universal payment network will make cryptocurrency exchange friendlier to most people.
Stellar is busy looking for solutions to the predicted issues. Jed says the network will reduce the transaction settlement times to 5 seconds. This will help those exchanging currencies with government backing do it quickly. IBM is already using the network Stellar has developed to develop a system that allows cross-border payments with some of the reputable large banks. McCaleb hopes that the Stellar technology will be able to digitize the non-crypto assets like stocks. His idea to develop Stellar in 2014 came by when he saw how broken the world’s financial infrastructure was and how many people were unable to access resources.
As an American programmer, Jed is known to have created eDonkey technology, Overnet, and also bitcoin Mt. Gox exchange. According to a report released in January 2018, the Ripple token ownership of McCaleb was $20 billion. Forbes’ list placed Jed at the 40th position of the richest people in the world. Jed became the co-founder of the Stellar Development Foundation–a non-profit organization– in 2014 to enhance cross-border based monetary transactions. The Stellar cofounder is consciously leveraging technology to ensure the human condition is improved and any inefficiency is reduced. Among the file-sharing networks available today, the eDonkey network Jed developed happens to be the largest.
Stellar.org supports Stellar network to ensure all individuals can benefit from economic participation. Stellar.org combines different technologies with digitized financial literacy to increase the effectiveness of the open-source software. Jed also advises MIRI on matters of artificial intelligence to enhance positive impact. The passion to see the world’s technologies improved makes Jed work with the smartest brains for long hours.