Jed McCaleb has been in the technology sector for some time now. He has developed several applications that are important in the financial industries. He developed the first bitcoin exchange in the world known as Mt. Gox and the creation of a decentralized peer to peer file sharing network known as eDonkey. All his life he looks forward to making people’s life simple through technology.
According to the article, Jed McCaleb, the co-founder, and CTO of Stellar is an excellent expert in digital currency and a programmer. His current invention of Stellar Development Foundation being the recent creation in partnership with Joyce Kim, is the most helpful creation because it aims at involving all the people with finances, despite the social class in the society, to banking services. Jed McCaleb’s involvement in the technical development in the company is in two forms, first is coding and secondly is replying emails.
Jed McCaleb decided to create Stellar after studying and understanding bitcoin. His main idea on creating this company was so that there could be a way that institutions could be linked and not just to move value but also to share files. Moreover, it aims at linking people who are unbanked because, when institutions are linked, then the costs of money transfer and maintenance of accounts becomes affordable through the open source network of finance therefore, enabling all people to receive the banking services equally. The Stellar Development Foundation has therefore been adapted in various financial sectors such as businesses, finance institutions and non-profit organizations all over the world.
Furthermore, Jed MacCaleb and the company team have developed stellar to become easy to understand and simple to operate but very secure through implementation of Stellar Consensus Protocol, a security network. In addition, the community decides the company’s usefulness and value as it is allowed to run operations.
In addition, Jed McCaleb is an advisor at Machine Intelligence Research Institute which is involved in guaranteeing safety in use of Artificial Intelligence which is his interest. In conclusion, Jed McCaleb attributes his success to planning, focus and overcoming obstacles through risk analysis.