Jed McCaleb, well-known American software developer and blockchain expert, is appreciated for the enormous contribution he has make to the world of cryptocurrency. He founded the first Bitcoin exchange in the entire universe, Mt Gox. McCaleb has also had a role in pioneering other technology projects like the site eDonkey, a website that was among one of the first networks for user-based sharing. It all started in the year 2000 by Jed and his friend Sam Yagan, also a developer. The user interface implemented multisource downloading and was the first to do so.
Jed McCaleb started a different project called Stellar. Seeing massive flaws the planets financial systems had, Jed and Kim teamed up to start the foundation Stellar Development of which Jed now serves as CTO. Jed leads the technology development department of Stellar which calls itself a global monetary network which concentrates on increasing participation levels and financial inclusion. Lots of companies fail to offer services to lower income clients because of inherent risks and costs involved in serving this market sector. The very limited connections amongst all financial institutions also serve to exacerbate the issue, keeping the costs of transfers at an unaffordable level. According to Jed, Stellar Development was started to connect different institutions together, which would allow for a more cost-effective option for customers and more seamless transfers utilizing open source networks.
McCaleb’s technology developing duties are two-fold. If he is not busy building up the functionality of stellar or coding or working with his team then he is busy sending email and everything else required to run a tech company.
Stellar gets its support from Stellar.org, a nonprofit design which combines financial literacy with technology and also takes part in supporting open source software. McCaleb spends a lot of his resources and his time deciphering ways the company can improve new as well as existing technology while seeking methods of solving issues in the world using these technologies.
McCaleb always believed that consciously utilizing technologies to conquer inefficiencies has the potential to better the quality of life for humanity. Besides running Stellar, Jed also advises the company MIRI, which does artificial intelligence research that has the ability to positively impact society.