Jed McCaleb Working On A Universal Payment System

Home / Jed McCaleb Working On A Universal Payment System

Jed is the Co-Founder and the Chief Technology Officer of stellar. This is a company that is exploring the opportunities that are in the cryptocurrency industry. It has not been easy for him setting up this company due to the challenging nature of the industry. The industry has been alive for one decade and just like any other industry it has gone through challenges before it stabilizes. However, even though it is a young industry, Jed McCaleb is one of the people who has managed to do so much with the company. He has worked with some blockchain companies as well as working on various personal projects. Currently, he is using Stellar to develop a cross-border payment system.

From experience he has from other companies he has worked for, McCaleb is optimistic that this time, he will make it. He sees that in the next few years, there shall be great progress towards the accomplishment of this goal. In the next ten years, he is talking about the existence of a hybrid payment system that will incorporate every aspect of the financial sector including blockchain technology.

Jed McCaleb had his first project based on blockchain technology in 2011 when he created Mt. Gox, a platform for bitcoin exchange. This platform did very well although he later sold it. Since then, he has done other projects as well as working for other companies. Now, he is ready to drive the industry through his own company. He is banking on the growth of blockchain technology to create a cross-border system that will lead to the acceptability of digital currencies as a normal currency just as dollars or euros.

Jed McCaleb says that the project that Stellar is working on will change the blockchain industry for the better. People who have never used these digital currencies will be comfortable using them since they will just be like any other currency. On top, Jed McCaleb says that the payment system that Stellar together with IBM is working on will change the financial industry greatly. Fiat money will also be transacted based on blockchain technology bringing transparency in the global financial system.

Read more about Jed’s prediction: https://www.cnbc.com/2018/03/21/an-early-bitcoin-pioneer-predicts-how-the-blockchain-will-change-banking.html