Jed McCaleb Believes Stellar Will be a Game-changer
After years of working in the financial technology sector, Jed McCaleb decided to create a localized payment network that would help solve many of the issues experienced by the world’s traditional financial institutions; a company entitled Stellar. Since the early 2000’s, Jed McCaleb has been known for his creation of eDonkey, an early peer-to-peer file-sharing network, as well as Ripple, and the first Bitcoin exchange, Mt. Gox. Ironically, it was his interest in Bitcoin that led to the development of the Stellar Network, as he quickly realized the potential within Bitcoin’s latent idea – it’s just a distributed database used to move value. According to the World Bank, there are currently billions of people around the world that are currently considered to be unbanked being that they have no reliable means of transferring funds cheaply and efficiently. Since the launching of the Stellar Network, Jed McCaleb has met with the United Nations regarding its prospects and has also developed a number of prominent partnerships with non-profit organizations such as South Africa’s Praekelt Foundation.
The keys to Jed McCaleb’s continued success as an entrepreneur lies in his preparation and planning. It is imperative to him, and in his opinion, to the success of any entrepreneur to ensure that the vision of the project is known and maintained by each member of the team working on its completion. He consistently breaks his workday down into two parts, consisting of a focus period and a reactive period. While working during his focus period, he generally spends his time building and coding the actual product that he is involved in, and while in the reactive session, he spends time writing and responding to emails that affect the trajectory of the business.
Jed McCaleb recently became involved with artificial intelligence, believing that it one of the most important forms of technology to impact the future of the world. Aligning himself with the Machine Intelligence Research Institute, whose goal is to create tools that will make the safe operation of artificial intelligence a possibility for upcoming generations, he acts as an advisor and charitable donor.
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