Jed McCaleb is a leading expert in the field of programming and cryptocurrency. During his time creating innovations in the tech world, he has made quite a name for himself. He was the creator of Mt. Gox, the first ever bitcoin exchange, and was the founder of eDonkey, the first multi source peer to peer downloading technology.
Even with such a long list of firsts in the tech world, his newest company, Stellar, aims to be his most successful. Stellar is a tech company that operates in the financial industry. The company links other institutions together in a way that makes it possible to eliminate some of the costly fees associated with these institutions. Stellar creates a seamless link between two banks, for example. The banks are able to communicate with each other and make use of cryptocurrencies in ways that previously would have costs them money, which ends up being paid for by the consumer.
With this new technology, Stellar aims to open up the banking and investment world to people who were previously unable to afford such services. Although Stellar has interest in low income and middle class Americans. Stellar’s audience primarily consists of individuals in developing countries, those that have no options for banking or financial services.
Jed McCaleb began Stellar with Joyce Kim in 2014.
Jed McCaleb’s Other Innovations
Mt. Gox began as an exchange service for gamers. Players of Magic: The Gathering Online were able to use Mt. Gox as a marketplace to trade cards in a safe and secure way. It wasn’t long until McCaleb learned that he could use Mt. Gox for more than just trading cards. McCaleb revolutionized Mt. Gox to be the world’s first bitcoin exchange before selling it to a company in Japan. Mt. Gox has since shutdown.
eDonkey2000 was a peer to peer file sharing network that used protocol created by Jed McCaleb. The technology behind eDonkey was revolutionary because it allowed an individual to download parts of a file from several different people at once. The program would then combine the small parts back together to provide you with the file you were looking for.
With the invention of such innovative technology on his resume, it leaves many to wonder what Jed McCaleb will do next.
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