Jed McCaleb Spearheading The World Of Digital Tokens
Jed is a long-time developer of cryptocurrency and has worked for prominent cryptocurrency companies such as the Mt. Gox bitcoin exchange. Jed McCaleb is currently the chief technology officer at stellar, a company that develops cryptocurrency network for beyond-border payments. McCaleb foresees a future where there will be a need for a universal settlements network that will provide a public ledger allowing people to transact in dollars and euros. Stellar provides a system that enables people to exchange currencies such as the euro and the U.S dollar. IBM is among the firms that have incorporated Stellar’s network to develop a beyond-border payment system with other banks.
The entry of initial coin offerings has led to the increase in fraudulent fundraisers who are attracted by the influx of funds in the token sales. However, proponents believe that token sales represent a new model of raising funds. Financial research firm Autonomous Next claimed that initial coin offerings had raised about $9 billion within four years. Token sales allow retail investors to contribute to a project by purchasing digital coins that can appreciate in value. Many start-up firms such as Securrency have already connected themselves to the world of digital tokens by allowing investors to buy stocks in bitcoin. After selling Mt. Goxbitcoin exchange to Mark Karpeles in 2011, Jed co-founded Ripple that today has its XRP coin at the top three in market capitalization. However, he left Ripple and co-founded Stella Organization where he serves as the CTO. Early this year, Stellar’s XLM coin lumen was ranked among the top ten largest cryptocurrencies by market capitalization.
About Jed McCaleb
Jed McCaleb is the Chief Technology Officer and co-founder of Stellar Organization. He is passionate about innovation and believes in the use of technology to improve human life. After identifying a breakage in the world’s financial infrastructure, Jed McCaleb co-founded Stellar with Joyce Kim in 2014. Initially, McCaleb had created eDonkey, a peer to peer file sharing network that grew to be the largest network at the time. Later he founded Mt. Gox, the first bitcoin exchange firm and in 2011 he created Ripple. Besides Stellar, Jed is an adviser to MIRI, an organization that researches artificial intelligence.