Jed McCaleb-Revolutionizing Cryptocurrency

March 23, 2018
By Rel

Cryptocurrency is an alternative/digital currency. It uses encryption techniques to generate units of currency and to verify the transfer of funds. Cryptocurrency operates independently of a central bank. Jed McCaleb is a programmer and blockchain cryptocurrency expert. His contributions to the field range from starting the first Bitcoin exchange in the world, Mt. Gox, to the first peer to peer file sharing network eDonkey. His most recent digital currency development is Stellar. When Jed is not pursuing advancements in Bitcoin, he is heavily involved with MIRI (Machine Intelligence Research Institute) researching Artificial Intelligence.


What’s so Great About Stellar?

Jed McCaleb is known for always looking to improve existing and new technologies as well as for trying to find ways to solve the world’s problems using technology. After noticing flaws in the global financial system, Jed developed Stellar. Jed is the cofounder and CTO of the Stellar Development Foundation. He not only works on coding, but also responds to emails and anything else associated with running the business. Stellar is a universal financial network which focuses on increasing economic participation or inclusion. Jed’s idea was to create a financial network that connects financial institutions as well as connecting the people of the world who are unbanked. Traditionally, financial institutions are unable to offer services to unbanked or low-income populations due to high maintenance costs. Jed McCaleb’s work with Stellar makes it more affordable for financial institutes to offer their services to the unbanked population by using inclusion to make money transfers cheaper. Since its introduction in 2014, Jed and his team have enhanced Stellar by using the internet’s low-level simplicity to make it more scalable, easy to understand and maintain, and easier to get information from and interact with using standard tools.


What’s His Secret?

According to Jed McCaleb, his success can be attributed to his ability to overcome obstacles, mastering the art of focusing on the important things and avoiding distractions, and spending a great deal of time on planning. Jed feels that planning and developing concrete strategies, not your level of productivity, is the key to success.