Jed McCaleb Talks About The Expansion Of Blockchain Technology

Jed McCaleb is a programmer who has been in the tech industry for 18 years. He founded his first business, MetaMachine, in August 2000. He got involved in the cryptocurrency sector in August 2011 and is now behind the Stellar Development Foundation which has a cryptocurrency called Lumens. He is seeking to build a global payment system which uses blockchain as its underlying technology.

In a crunchbase article, he says that in the pretty near future there will be a universal payment network, one that might allow for government backed currencies as well as a cryptocurrency. Jed McCaleb says that Woon Bank in South Korea is planning on using another cryptocurrency, Ripple, in their operations later on this year and he expects this to be just the first of many financial institutions using cryptocurrency to facilitate transactions, especially those that are cross border in nature.

Jed McCaleb says that blockchain technology can be used for more financial services than just currency. He sees stocks, for example, as something that could benefit from this technology. He thinks every type of equity could be tokenized within the next decade because of the benefits this technology offers. He says that international financial systems are presently inadequate and blockchain will vastly improve things especially when it comes to providing financial services to those who are presently unbanked.

He is the chief technology officer at his company while the other co-founder of Stellar Development Foundation handles the business aspects of this organization. Jed McCaleb also spends time serving as an advisor to another organization, Machine Intelligence Research Institute. This organization is a nonprofit that is designing rules so that artificial intelligence is used in a positive way. There are many dangers when it comes to artificial intelligence, he says, and a robust set of rules is needed so that this type of technology is used to help people rather than harm them.

Stellar Development Foundation and Jed McCaleb: http://analystoffinance.com/2018/02/jed-mccaleb-newest-venture-stellar/

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