Posted in Business, Business Finance

Jed McCaleb’s Belief in Cryptocurreny

Jed McCaleb is the co-founder and Chief Tehcnology Officer (CTO) of Stellar Development whose goal is to give everyone in the world access to financial resources. McCaleb has a firm belief that, in the not so distant future, there will be a universal payment network. This network, he believes, will involve a public ledger of sorts that will allow people to use the things they are used to, like dollars or euros.

According to blogpost at analystoffinance.com, Stellar allows the creation and distribution of applications and the creation of new tokens. As it stands, the company’s digital asset, XLM, is ranked in the top ten crypto assets. The benefit of Stellar is that it has the ability to settle a transaction within seconds. Beyond that, Stellar offers an additional layer of complexity because it allows anyone and everyone to tokenize and exchange financial assets. International transactions are possible with Stellar because of its ability to tokenize assets and move them between a cryptographically protected network.

Jed McCaleb believes that there is a big potential for crypto assets, specifically in the field of fundraising and venture capital. It has been found that startup projects that performed ICOs raised somewhere between $4 and $9 billion worth of digital assets; this is particularly important because there weren’t any limitations set by investors or intermediaries. Another huge benefit of using ICOs is that it allows the team to keep ownership.

Until recently, anyone in the world had the ability to use ICO’s. That is, until China increased their regulations restricting the process. China’s increased regulations were followed by the increase of limits worldwide. In the United States, the Securities and Exchange Commission has scrutinized the use of ICOs.

Before co-founding Stellar Development, McCaleb created eDonkey2000, a file sharing network that was the first to apply multisource downloading. He also was the creator of the first bitcoin exchange known as Mt.Gox, which he sold in 2011.

Helpful site: https://globalcoinreport.com/stellar-lumens-technology-will-lead-to-new-global-payment-systems-jed-mccaleb/