In the programming and blockchain world, no one is more revered than Jed McCaleb. McCaleb is one of the true pioneers and innovators of the blockchain world. All of McCaleb’s ventures have one thing in common; he has been creating new ways to connect people together. With his previous companies, eDonkey, Usernet, and Mt. Gox, when it comes down to simple terms, he has been working to help people connect. With a half dozen or so successful companies on his resume, McCaleb has now created Stellar.
Jed McCaleb’s Previous Work
In the early age of the internet, McCaleb created eDonkey and Usernet. They are P2P file sharing programs. The technology behind eDonkey and Usernet are still used to this day. Way back in 2000, McCaleb came up with the idea to have users download a file from multi other users at the same time. This type of decentralized business model can also be attributed to how cryptocurrencies came to be.
Mt. Gox was the first bitcoin exchange in the world. Originally, McCaleb’s intention was purely to create a virtual trading platform for players of Magic: The Gathering Online. It wasn’t long until McCaleb discovered that the coding behind Mt. Gox could be used for much more than trading cards. Eventually, McCaleb sold the company.
What is Stellar?
Stellar is a blockchain company created to aid financial institutions. It was created in a joint effort between Joyce Kim and Jed McCaleb. The company was founded in 2014.
Jed McCaleb and Joyce Kim created Stellar after they saw the plentiful flaws in worldwide financial systems. At Stellar, Jed has two main responsibilities: coding & business dealings.
With Stellar, Jed McCaleb hopes to lower the cost of banking to bring financial services to communities and countries that couldn’t previously afford them. Stellar says that 2.5 billion people are without banking services; by using Stellar they intend to bring that number to zero.