Jed McCaleb is one of the earliest pioneers of bitcoin and well known for helping found Stellar. He believes banking will be changed by blockchain. His prediction is a universal payments network. He believes stocks will be digitized and the financial system has not tapped initial coin offerings. He also believes the stock market, fundraising and global payments will be changed in the neat future by this technology.
Jed McCaleb has been involved with some of the largest crypto organizations starting with Mt. Gox. He now holds the position of Stellar’s Chief Technology Officer. He has stated the underlying blockchain technology and cryptocurrency will gain more traction as time passes. He believes there will be a universal payments network using a public ledger. Steller is working on these issues including a transaction settlement requiring just five seconds. IBM is already developing a payment system using Stellar’s network with some of the larger banks.
Jeb McCaleb stated during a period of four years more than $9 billion has been raised through initial coin offering sales. This influx has resulted in the growth of numerous fraudulent fundraisers and caught the regulators attention. The proponents still believe token sales are fundraisings new model. When tokens are purchased it enables the retail investors to buy digital coins to contribute to the project. This means the investors have access to platforms in the future.
Jeb McCaleb believes within ten years all equity will be digitized. He stated decentralized exchanges may be involved because people will be trading so many different things it will be difficult to handle by a centrally controlled exchange. There are already several startups looking for a way to connect the traditional financial markets with the world of digitized tokens.
Jeb McCaleb was the creator of the Mt. Gox bitcoin exchange. He sold the exchange in 2011. In 2014 he became one of the founders of Stellar and is currently the CTO for the company. The XLM coins of Steller are referred to as lumens. Around New Year’s they became the tenth biggest cryptocurrency. Lumens are currently 23.8 cents for the year.