Jed McCaleb is the co-founder and CTO of Stellar Development Foundation. This is an organization which is developing a single payment network for cryptocurrencies. The organization was started in 2014 to solve the inherent problems that were in the industry. The biggest issue affecting the industry is lack of a payment system that can use to facilitate transactions with ease. The stellar system wants to make the industry not only safe but easy to use. Money through the system will be sent just like we send and receive emails. This system will, however, require the backing of a security system that will ensure no single person can hack and run away with people’s money. This matter, as mentioned in a Coin Telegraph article, is right now at the heart of everything that Jeb McCaleb is doing. He is currently at the top of things enabling the industry to grow with ease.
The security system being used by Stellar is unique. It is very different from what is currently being used by bitcoin. Bitcoin is protected by computers which are always solving mathematical problems. With Stellar, Jed McCaleb is creating a new system network that will help people to send and receive money in the form they want. You will be able to send cryptocurrencies which will be received as fiat money on the other end. The new system is exploring a secure way of transferring money by creating trust among machines.
Jed McCaleb is an industry innovator who has used his experience in the industry to make the industry better. He was the creator of the first centralized exchange known as Mt. Gox. This is a platform that allowed people to buy and sell bitcoin without requiring the second party. According to Jed, he sold Mt. Gox to another partner. In 2014, it was hacked and caused great havoc for the cryptocurrencies industries. At the time of hacking, it was under the new management.
Jeb McCaleb has achieved great success with this firm and is hoping to create a global payments system that will incorporate even more currencies and traditional assets by 20128. The growth of the industry is highly dependent on people like McCaleb who are leaving nothing to chance while pursuing great innovations. Contact Jed McCaleb | LinkedIn.