How Jed McCaleb Has Transformed The Financial Payment System

Technological advancement has been responsible for the development of new ways of sending and receiving funds. The internet has contributed to the establishment of cryptocurrencies that have changed the financial world. Technology is slowly taking over the global payment system, and soon we will have one centralized payment system. Jed McCaleb has vested interest in the technological and financial world. He has contributed a lot of knowledge in the establishment of some global payment systems that have changed the living standards of people. Jed McCaleb is a developer in the cryptocurrency and has been instrumental in developing Mt. Gox Bitcoin.

Currently, Jed McCaleb is the Chief Technological Officer at Stellar which is a cryptocurrency development company. The company has indulged in the development of a cross-border payment system with the aim of bringing the payments system together. He says the company hopes to have a payment option where people will use common currency like the dollar and euro without changing them arbitrarily. As such, Stellar is working extremely hard to introduce faster payment methods of less than 5 seconds which is also faster than the transaction done by the Bitcoin. Due to the introduction of the Stellar payment system, some of the well-known and established companies like IBM have already started using the company’s payment system. The initial coin offering which has been in use for a long time has continued to raise concerns leading to the introduction of many regulations as compared to cryptocurrency which faster, safer and secure.

Jed McCaleb has been instrumental in the establishment and development of many technology companies in the US. He created eDonkey, which is one of the earliest and largest file sharing networks used across the globe. The network was instrumental in people sharing files within the shortest time and being able to download the files.

As per globalcoinreport.com, Jed McCaleb established Ripple which grew significantly and was recently valued at an estimated amount of $20 billion. He was born in Arkansas where he attended the University of California and acquired the desired skills in the technological field. He has also participated in the charitable works where he contributed over $500,000 worth of XRP to Machine Intelligence Research Institute.

Contact Information: Jed McCaleb on LinkedIn

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