Jed McCaleb Explains About Cryptocurrencies
Jed McCaleb is the founder of Mt.Gox as well as one of the co-founders of Stellar. Recently, this knowledgeable guy in the cryptocurrency field has highlighted his projections about the future. Jed believes that three markets are going to experience the impact of blockchain technologies. These industries include stock exchange markets, global payment services and access to funds. Mr. McCaleb has walked through the journey of cryptocurrencies since its inception. He notes that in the beginning, the market was not very stable. However, this situation is drastically changing as more and more people are adopting cryptocurrencies as one of the most innovative technologies in the finance field.
Jed McCaleb is an expert who has been involved in starting renowned firms that deal with cryptocurrencies. One of the companies that he started is Mt. Gox. He later sold the firm to Mark Kapelles in 2011. Mr. Kapelles operated it up to 2013 when it crashed as a result of hacking. This crash is considered to have negatively impacted the cryptocurrency field to a large extent. It resulted in a decline in the values of Bitcoins from over $1000 to a historic low of $ 100.
Mr. Jed McCaleb serves as the Chief Technology Officer (CTO) of Stellar. Stellar is one of the most widely used platforms in the creation of distributed applications and new tokens. XLM is one of the assets owned by Stellar. Recently, XLM was ranked among the ten most valuable holdings regarding capitalization. McCaleb cofounded Stellar with another IT guru. However, the idea of starting the firm was primarily initiated by him. This was after realizing gaps in the world’s financial systems that required to be sealed.
Stellar aims to solve the problems that have lingered for long in the world’s conventional financial system. They intend to address this longstanding issue through blockchain scaling. This will speed up transactions and also increase the volumes that can be done at a particular timespan. The works of Stellar have received significant recognition from some of the most prominent companies in the IT field. One of this firm is IBM that is using the Stellar platform in its operations. Want to know more about Stellar? Check out this blog from Analyst Of Finance.