Jed McCaleb Explains The Thinking Behind Stellar

Jed McCaleb has been involved in cryptocurrency since it was just starting out. He is an entrepreneur who has launched a number of well-known blockchain projects and is now working on Stellar. He wants this to be the industry standard for moving money across national borders. He says that everything he has learned about cryptocurrency is now being put into making Stellar a success.

According to Jed, he learned about Bitcoin in 2010 when reading an article on Slashdot. There was a link in the article to the Bitcoin whitepaper as well as another link to Bitcointalk, a forum dedicated to this new at the time cryptocurrency. Jed McCaleb says that he was really intrigued by what he read. He didn’t think at the time that it was possible to have money that wasn’t centrally controlled but before long he was a believer.

He established the first centralized exchange for bitcoin, Mt. Gox. Jed McCaleb says that at the time people could trade bitcoin over the internet but it took a good deal of coordination between both parties. Before long Mt. Gox was being used to exchange 80% of all bitcoin trading. He sold this business off in 2011.

It was in 2014 that the Stellar Development Foundation was established. Jed McCaleb wants to make it possible for financial institutions and payment networks to be connected together in a way that makes moving money easy and inexpensive. He made the decision to make his organization a nonprofit. The reason for this is that he wants it to be open source for people. This creates a level of trust which is lacking for many digital currencies in use today.

There have been many initial coin offerings in recent years. He says there are a number of questionable digital currencies now out there. He says that he wants the cryptocurrencies that are on the up and up to raise money through the use of his Stellar Network. His network is designed to be a platform for issuing tokens. He thinks it is pretty great that ICOs are able to raise money from around the world using his Stellar platform. If you want to know more, checkout Jed McCaleb on LinkedIn.


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