Jed McCaleb is something of a serial entrepreneur. He may be best known for founding Mt. Gox, the first bitcoin exchange. That, however, is far from the only new service he’s had a hand in. McCaleb is a firm believer in the idea that technology can improve lives. He feels that increasing efficiency can reduce friction and make people’s lives better in a number of ways.
McCaleb got started by developing a file-sharing network known as eDonkey. At the time, it was one of the only outlets to offer this valuable service. These days, he focuses more on the financial side of life. In addition to Mt. Gox, he founded Ripple, a blockchain product that makes it possible to accept payments from all over the world. Most recently, he and Joyce Kim have co-founded Stellar.org together.
Stellar is designed to make it possible for all people to participate in the economy. Like so many of McCaleb’s other ventures, it breaks down barriers and makes things go more smoothly for users. Unlike his other ventures, Stellar is designed to be used for non-profit purposes. This product has already made great strides by doing things like bringing free money transfer to isolated communities. People in over 200 villages in Nigeria can now send and receive funds more easily because of Stellar. Like Bitcoin and Ripple, blockchain technology is what makes it possible for Stellar to work.
McCaleb knows that if the developing world is to become productive, it needs to have proper financial institutions. However, currently over two billion people have no access to banks. Stellar seeks to fill that gap, and connect them to the rest of the world. With increased globalization, there are more opportunities available for isolated communities than ever before. However, they often need better infrastructure. Stellar helps provide that.
More on Jed McCaleb: https://www.youtube.com/watch?v=GIMOrsPxlZg