As a forward-thinking person, innovator, computer programmer, and entrepreneur, Jed McCaleb’s vision is to utilize technology to reduce oversight and to improve the conditions of people in developing countries. As a fan of innovation, cryptocurrency, and emerging technology, Jed McCaleb has put himself in an interesting spot — one that involves addressing global issues using new technology to solidify and make his visions come to fruition. Jed McCaleb has made some serious inroads for himself over the years by creating useful, Internet-based web platforms.
In niche areas of technology and finance like cryptocurrency and blockchain, Jed McCaleb has immersed himself in it. McCaleb has been focusing quite intently how the Internet and his cryptocurrency-focused project, Stellar, can bring his visions alive and a success. McCaleb came to the conclusion that the financial organizational structure in the world was broken. Jed McCaleb’s arguments and impetus for creating Stellar.org in 2014 were based on what he garnered from the World Bank’s statistics. The World Bank produced a report, which stated that there are 2.5 billion people living in the developing world without a means of entry to a financial institution.
McCaleb delved into the entrepreneurship path by using his programming tools and abilities at a time when Napster.com was gaining steam as a peer-to-peer methodology for website users and file sharers in 1999. McCaleb created one of the larger network of peer-to-peer (P2P) file uploading networks called eDonkey at the turn of the new millennium.
For Jed McCaleb and his fellow co-founder of the Stellar Foundation, Joyce Kim, using the emerging blockchain technology and Bitcoin as the driving force behind the universal financing methodologies and advanced tools like APIs. Stellar, which trades under the cryptocurrency symbol, (XLM)is directly involved in fusing banking institutions and new stakeholders in developing countries as part of the technology that McCaleb and Kim have built. At this point, there are 2.5 billion people around the globe who could be using Stellar.org
The Stellar network works directly with Stellar.org, and it connects many different banking institutions to one another using Bitcoin and other cryptocurrencies like Stellar (XLM).