Jed McCaleb’s Solutions for the World’s Broken Financial Infrastructure
The connection between different financial organizations across the world is wanting. It is riddled with numerous problems that account for the delays and increased cost of transactions. It is these flaws that drove Jed McCaleb to use his knowledge and creativity to devise a mechanism to overcome such challenges. Through Stellar Foundation, an organization he founded with a partner, McCaleb uses his understanding of Bitcoin to make plans and technology that makes things easier. His attention was not merely on the creation of new digital currencies but on how they could help in connecting the existing financial institutions.
The cheaper and seamless money transfer network created by Stellar has been welcomed warmly. Different financial organizations, businesses, and non-profit making organizations have implemented this technology. All in all, this does not mark the end of the innovation journey for Stellar Foundation. With time, it keeps on upgrading its network to provide unmatched services. Apart from providing easy tools to use, the network is based on simplicity. When it comes to Stellar network’s security, Jed McCaleb states that it has been improved via developments that saw the implementation of Stellar Consensus Protocol. A series of failure simulations is also imperative to the network’s security as it facilitates maximum protection.
Jed McCaleb, the acting CTO and co-founder of Stellar Foundation does not have all his interests in the organization’s operations. Whenever he is not occupied at work, he opts to research more on the potential of Artificial intelligence (AI). He believes that AI will make major strides towards improvement and success within a period of fewer than two decades. Jed McCaleb sees AI as the best solution to the problems people are experiencing for the time being as it continues to develop skewed towards the quality of making life simpler. He sees a better future in Ai compared to the blockchain.
According to Jed McCaleb, you cannot be successful unless you start setting the right goals. If you are highly productive and lack perfect plans, your productivity will become a waste. Therefore, he devotes much time making plans and strategies that guide him towards the attainment of success.