Jed McCaleb consciously leverages technology to increase efficiency so the human condition is improved. McCaleb created the first exchange for bitcoin, Mt. Gox and a large network for file sharing, eDonkey. He founded Ripple during 2011, in 2014 he was a cofounder of Stellar.org because he recognized there are several people without resources because of a broken financial infrastructure.
Jed McCaleb leads Stellar’s technical development, Stellar.org supports it. It is a nonprofit that joins financial digital literacy with technology and makes contributions to software that is open source. He advices MIRI which is an artificial intelligence researcher for impacting positively.
Stellar Idea Origin
Jed McCaleb’s increased Bitcoin interest is what led to Stellar. He noticed that Bitcoin was a database that was being distributed and knew that there were things it could be used as a solution for other than making new currencies including the connection of financial institutions. Stellar links various institutions together for moving money between people.
World Bank says that almost half of the adult population of the world does not have a bank. This means they do not have means to save money because they do not have bank accounts and have to pay fees to send money. It is expensive for banks to serve those with low income and limited financial institution connections make the cost of money transfers high. Using the open source network for finances to connect institutions and allow for money transfers to be made easily and inexpensively is the goal of Stellar. Stellar is being implemented by businesses and nonprofits for financial infrastructure.
Jed McCaleb’s Typical Day
McCaleb knows how to balance between technical development and management because he has managed small teams. His two work modes are reactive and focused. He builds and codes in focused mode. He handles the behind the scenes tasks of running a business in reactive mode.
Trends Jed McCaleb Is Excited About
McCaleb find artificial intelligence terrifying and exciting since the powerful technology is still in the beginning stages. In future AI will solve existing problems to make life easier, it is largest technological advancement since the revolution of agriculture. Jed McCalab donates to the research of machine intelligence for this reason.