Jed McCaleb is a programmer who also possesses immense knowledge in blockchain cryptocurrency. He is the founder of Mt. Gox. Mt. Gox was the first Bitcoin exchange platform in the world. Mr. McCaleb has also been involved in the development of other startup projects such as eDonkey. He developed this program in 2000 together with Sam Yagan. At the time of its development, the app was among the first decentralized peer to peer sharing programs. It was also the first app to apply a multisource downloading system.
Mr. McCaleb has been continually involved in app and program developments since his success with Mt. Gox. In 2014, he decided to create a program called Stellar. This was after realizing that numerous flaws marred the global financial system. Stellar is a financial network that aims to increase the economic inclusivity of individuals and financial institutions. He developed this network with the help of a fellow developer, Joyce Kim. The network trades under Stellar Development Foundation and Mr. McCaleb is the company’s CTO and Cofounder.
Jed is the primary technical manager of the network, and he is always coding to improve it with the help of other programmers. When he is not managing the network development, Mr. McCaleb takes the time to respond to the numerous emails that the company receives. Stellar.org supports the network. This is a nonprofit organization that merges technology with digital finance literacy. Mr. McCaleb is known to spend a considerable part of his time in looking for new technologies that can positively impact the world.
He decided to start Stellar after spending much time learning about the distributed database system that is used by Bitcoin. Jed realized that the technology used by Bitcoin could be used to make other programs more efficient. Bitcoin is a digital currency. Mr. McCaleb thought it would be better to go beyond developing a new currency like Bitcoin. He created a financial network that would link institutions as well as individuals with interest in digital currency trading. Jed intends Stellar to connect unbanked individuals. There are about 2.5 billion people who have no bank accounts. This is according to a recent study by World Bank.
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