Jed McCaleb has been immersed in the world of cryptocurrency for many years. He believes the future of global payments, the stock market and fundraising will be impacted by this technology. He was involved with the Mt. Gox exchange and currently focuses in the development of a cryptocurrency network through Stellar. He is certain a network for universal payments will be a part of the future through a public ledger.
Stellar is working to ensure any future issues are resolved and currently in the process of developing a cross border system for payments. Jed McCaleb believes initial coin offerings will continue for many years and the financial system will continue to grow. Nearly $9 billion has been raised with initial coin offerings in only four years. Numerous fraudulent fundraisers have resulted from the cryptocurrency market and the regulators attention has been caught. Despite this there is still growth in the new fundraising model.
Jed McCaleb believes token sales are generally a more effective way for retail investors to make contributions to projects than the traditional model. The tokens have the potential to increase in value and provide access to platforms for investors. Jed McCaleb strongly believes the same technology will be used to digitize stocks in the future. He expects blockchain technology to tokenize all equity at some level within the next decade.
Jed McCaleb thinks decentralized exchanges will become necessary to enable the trading of an extremely wide variety of goods. Startups are already making attempts to form a connection between the financial markets and digital tokens. Work is currently in progress to enable investors to purchase stocks using Bitcoin. Jed McCaleb was the individual who created the Mt. Gox bitcoin exchange. He sold the exchange to Mark Karpeles in 2011. Under his ownership the exchange was hacked and this led to bankruptcy.
In 2014 Jed McCaleb advanced his career when he became the founder and Chief Technology Officer for Stellar. The lumens produced by the company became tenth on the list of the biggest cryptocurrency towards the start of the new year. There is no doubt Jed McCaleb has built a successful career in the field of cryptocurrency.