Jed McCaleb is one of the founders of Stellar and inventor of the bitcoin exchange called Mt. Gox. Mr.McCaleb has predicted that the blockchain technology is bound to bring about a change in the network of universal payment, stock markets and fundraising.
Jed McCaleb also revealed that stocks which are not related to crypto assets will also be digitized with blockchain technology. The Mt. Gox creator holds the opinion that blockchain technology and cryptocurrency are gaining popularity and they are likely to change the future financial market. Apart from being the co-founder of Stellar, Mr. McCaleb holds the title of head technology officer at the company. The company seeks to develop a network of cryptocurrency that will enable payments across borders.
Jed McCaleb shared the candid information in a popular American media house. He said that although the global payment network will allow an open unrestricted ledger that will be available to everyone, no one will be able to change it randomly. In addition to this, people will still be able to use popular currencies like Euros and Dollars.
However, Stellar is coming up with solutions to some issues that might affect this market. Nevertheless, this technology network is able to carry out quick transactions and it also allows its users to exchange popular currencies like the Euro and Dollars in approximately five seconds. Moreover, this network is already being used by reputable companies such as IBM to enable the payments across borders with some of the renowned banks.
In addition to this, the offerings of initial coins have already indicated that some markets haven’t embraced the financial structure yet. These offerings have risen to a value of approximately nine billion dollars in nearly four years this is according to Autonomous Next which is a research firm that deals with financial research. Although the tokens have brought about a new method of fundraising, they have also provoked numerous con methods of fundraising. However, this has also provoked the interest of regulators in the interest of regulators in the market.
ABOUT JED McCALEB:
Jed McCaleb is a technology trend setter who believes that technology should develop human lives. He has been on the forefront of creating various technological advancements that have managed to cause a revolution in human lives. In 2014, Mr. McCaleb co started Stellar Development Foundation.