In an interview, Jed McCaleb said that he envisions a world where all transactions across the globe are powered by blockchain. He went on to say that in future there is a possibility for the incorporation of a hybrid system that facilitates the payment of fiat currencies with the blockchain.
Woon, a South Korean Bank, has planned to line up Ripple, a digital currency invented by Jed McCaleb, for implementation on commercial basis later on this year. Furthermore, many other financial institutions are considering Ripple and Stellar as a revolution for the shake-up of their remittance model. In fact, in the next 10 years, Stellar Network is set to process payments and traditional assets like stock.
Jed McCaleb is one of the top names in the world of technology today especially when it comes to cryptocurrency. He is known for the creation of Mt. Gox, eDonkey, Stellar and Ripple. Jed McCaleb serves as the Chief Technology Officer of Stellar.org, a company that he co-founded alongside, Joyce Kim. Jed McCaleb is basically a skilled software developer and a top-notch entrepreneur.
Jed McCaleb was born in 1975 in Arkansas, United States of America. After completing his high studies he joined the University of California. After studying for some time, Jed McCaleb decided to drop out and move to New York. It was after moving to New York, that he started his company MetaMachine Inc and then released the eDonkey2000 application in 2000. Serving as the Chief Technology Officer of the firm, Jed McCaleb continued developing the eDonkey network and the eDonkey2000 application.
In 2007, Jed McCaleb purchased Mtgox.com and 3 years he repurposed it to a site to process dollar-to-bitcoin trades. Within months the site grew immensely and in 2011 Mark Karpeles bought it from Jed McCaleb. In 2011, Jed McCaleb started a digital currency known as Ripple.
Jed McCaleb brought in a number of top executives like Chris Larsen and continued working at triple before leaving his active role in 2013. It was in 2014 that he started Stellar to facilitate cross-transactions involving digital currencies. 3 years later, he founded Lightyear.io, a firm that focuses on building the Stellar network.
Article Source: https://www.crunchbase.com/person/jed-mccaleb