Jed McCaleb is the co-founder of Steller, an open-source protocol for financial exchanges. Along with fellow co-founder, Joyce Kim, the two established the system to enable the lower income members of the population to be able to afford financial services that were previously too expensive. The duo believe that financial advice and services shouldn’t be reserved for just the rich. In the future, with Stellar, everyone may be able to have access to the highest quality services available.
Jed said that he got the idea for Stellar when he realized that Bitcoin could solve many issues with the logistics of cash exchanges. Instead of being typical and starting his own cryptocurrency, he created a protocol to allow banks and other financial institutions to communicate without other in a less expensive manner.
Stellar is already in use by many business, banks and nonprofits across the world. While Jed McCaleb and Stellar will improve the services that lower income individuals in America can afford, their real target are those in undeveloped countries: people who have no access to financial systems.
ABOUT JED MCCALEB
McCaleb is an expert in the fields of both computer programming and blockchain cryptocurrencies. As well as being the co-founder of Stellar, he also serves as its Chief Technology Officer. He first became known in the tech world as the founder of the peer-to-peer file sharing technology behind the company eDonkey. The work he did for eDonkey has went on to be the standard in the peer to peer world.
As well as eDonkey, Jed McCaleb also created Overnet. Overnet was his second attempt at creating a peer-to-peer network. Overnet used the same technology developed for eDonkey. Eventually the two companies merged to create eDonkey2000.
McCaleb’s career has not just been confined to the file sharing industry. He created the first ever bitcoin exchange called Mt. Gox. Mt. Gox was not originally a bitcoin exchange though, its original purpose was to provide a safe and secure place for Magic: The Gathering Online players to trade their virtual items.