Jed McCaleb who has played a significant role in the development of cryptocurrency says that the future technology will change the stock market, methods of payments, and raising funds. McCaleb has contributed to major crypto organizations such as Mr. Gox bitcoin. Currently, Jed serves at Stellar as its chief technology officer. Stellar focuses on the development of cryptocurrency as a method of payment across the world. In a recent interview with CNBC.com McCaleb shared his interests and the mission of Stellar.
Jed said that he believes that a new method of payment will take over soon. He added that the method would be visible, but it will be impossible for people to change it arbitrarily. Coincidentally, Stellar is on a mission to work on Jed’s vision. IBM is an example of an international company that uses Stellar’s network. IBM uses the network to come up with a global payment system that can be employed by large banks.
Jed McCaleb said that token sales had raised about $9 billion in less than four years. The influx of money into token sales has led to the increase fraudulent fundraisers as well as concerns by regulators. However, proponents have confirmed that token sales are the official method of raising funds. Token sales directly go to retail investors. Such investors buy digital coins as a way of contributing to the project. The token may appreciate in value or give buyers access to another future platform. Jed believes that stocks among other non-crypto assets will soon be digitized in the same way.
McCaleb notes that within ten years, he will not be shocked to find out that equity has not been tokenized. Changing payment methods will involve a decentralized exchange because a centrally controlled transfer cannot handle all trades carried out by different people. McCaleb developed the MT. Gox Bitcoin exchange even before Mark Karpeles purchased it in 2011.
Jed McCaleb is one of the founders at Stellar where he also serves as the leader of the technical development. Jed believes that technology should be improved now and then to improve living conditions and to increase the efficiency of operations. Jed is also the creator of eDonkey which is a file-sharing network.