McCaleb is a renowned expert in blockchain cryptocurrency and an American programmer who acts as the chief technology officer and the co-founder of Stellar. The main reason as to why McCaleb has started the stellar project is to recognize the broken financial infrastructure of the world.
Jed is known for his significant contribution in the world of cryptocurrencies such as starting the first bitcoin exchange and Mt. Gox in the world. Also, McCaleb has involved himself in pioneering other projects such as the eDonkey which implements multisourcing downloading.
Stellar is an essential platform that permits the creation of new tokens and distributed applications. To match the volume and speed of traditional financial transaction systems, Stellar puts the effort in solving matters of scaling blockchain solutions. It attends to a transaction within seconds. Its complexity allows anyone to exchange and tokenize traditional financial bonds, stocks, assets or currencies.
Jed McCaleb also serves as an advisor in the Machine intelligence research institute (MIRI). He leads Steller’s technical development, a financial network that focuses on raising economic participation. Jed has two roles on technical development whereby, if he is not building and coding the technical aspects of Stellar, he gets busy with anything else that is related to the running of the business or responds to emails.
Stellar.org (a nonprofit that combines digital financial literacy and technology), provides support to the Stellar network. This poses a challenge to Jed to research on ways of improving or utilizing new technologies and devising techniques of problem-solving using these technologies in the world.
According to McCaleb, connecting billions of people in the world who are currently unbanked is the primary aim of the Stellar network. By creating links within the institutions, Stellar makes the institutions able to afford to offer services to unbanked people. Jed claims that the existence of Stellar facilitates tying together of different siloed institutions thus, allowing seamless and cheaper transfer of money through an open source financial network.
Many businesses, nonprofits and financial organizations in the world have already implemented Stellar as a financial infrastructure. However, Jed uses a lot of his time to research on the potentiality of artificial intelligence when he is not busy with Stellar.