Stellar CTO, Jed McCaleb, Shares his Thoughts on Future of Banking

Jed McCaleb and Joyce Kim created Stellar to provide financial options all over the world. They have created a system that works in undeveloped countries to over services the didn’t exist previously. Stellar’s technology, which is ran by blockchain, connects financial institutions together to conduct transactions at a much cheaper rate than previous methods. This is what enables the impoverished individuals of underdeveloped countries to finally have financial services.

 

Prior to creating Stellar, Jed McCaleb worked in several other industries. He created a financial exchange network for bitcoin called Mt. Gox. He created a decentralized file sharing software called eDonkey. Now, with his expertise in decentralized technology, he has created Stellar.

 

His expertise across so many different industries makes him one of the few people capable of making accurate predictions about blockchain. Jed McCaleb says that within the next 10 years there will be a single financial system that works across the entire world. McCaleb went on to explain that he believes stocks will one day be entirely purchased with the use of blockchain and/or cryptocurrency.

 

If the banking industry does go the direction that McCaleb predicts it could change the world for the better. This would mean cheaper, more secure banking options for the entire world.

 

Stellar is only one of the hundreds of blockchain companies to sprout up in the past couple years.

 

A company located out of Maryland is already working hard to provide investors with a method to buy and sell stocks with bitcoin.

 

Even though most of the blockchain companies are legitimate, due to the open source code needed to create a cryptocurrency, lots of fraudulent companies have started up. Securrency, the previously mentioned Maryland based company, and Stellar are both legitimate businesses with long-term goals.

 

Stellar is already implemented in many countries all through-out South Pacific Asia. They are also partnered with IBM, one of the biggest software and hardware producers in the world.

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