Cryptocurrencies have continued to grow in popularity over the last several years and have become an exciting new asset class that has many traditional investors running to jump in. Jed McCaleb is one of the pioneers of blockchain technology. He is best known for founding one of the largest bitcoin exchanges over the last several years which is known as Mt. Gox. Today Jed McCaleb is working on a new project the Stellar Development Foundation in an effort to utilize the benefits provided by the decentralized blockchain technology to change the way our financial infrastructure is composed. The Stellar Development Foundation promises to create a new method of transactions that will allow international payments with incredibly low fees at a much faster pace than is possible utilizing traditional transaction methods.
Jed McCaleb strongly believes that the decentralized and immutable nature of blockchain technology will not only revolutionize the way transactions take place but also revolutionize a number of other assets. Already the stellar network is solving numerous issues and is being implemented by several large corporations in order to facilitate cross-border payments.
Jed McCaleb believes that initial coin offerings represent a still as of yet untapped potential in the cryptocurrency markets. Over the last four years just short of $9 billion has been raised through these initial coin offerings. Initial coin offerings are a unique way that cryptocurrency projects are able to generate funding by allowing traditional investors to buy into the projects in a new form of venture capital.
Jed McCaleb believes that non-crypto based assets such as stocks and bonds will be incorporated into the blockchain ecosystem within the next ten years. The decentralized nature of the blockchain will allow individuals to invest in these assets with minimal fees and without intermediaries complicating the process. In the next ten years, he expects that numerous assets will be digitized and sold as tokens on a blockchain network.
Today Jed McCaleb works as the chief technology officer for the Stellar Development Foundation. The token that the foundation has released is currently trading is one of the world’s leading cryptocurrencies and is within the top 10 in terms of market capitalization.