Does cryptocurrency have the power to change the way people invest in the stock market, fundraise, and even make a simple payment? Jed McCaleb does. Having worked on Bitcoin and started his own cryptocurrency network company, Jed McCaleb thinks the answer to that question is yes. His company, Stellar, is working to create a universal payment network, one that will allow people to still use the currency of their choice such as the dollar or the euro. This system would be similar to bitcoin in that it would have a universal ledger that cannot be altered, but with those more familiar currencies.
The blockchain technology has a lot to offer more traditional money management systems. Companies have already started using this as a way to raise start-up capital. There are some risks associated with this, the most well known of which is fraud. But with investors raising around $9 billion, this is clearly a fundraising model with potential. Many people feel that medium of investment gives investors a different way for that investment to appreciate.
And Jed McCaleb believes in the next ten years the stock markets will become digitized and decentralized, allowing users to trade an even larger variety of items. Stellar isn’t the only company working to make blockchain and cryptocurrency more accessible to the general public. A company based in Maryland is working on a way for people to use bitcoin to buy and sell stocks. But with all of Jed McCaleb’s experience in the new industry, perhaps he has a leg up on the competition? After all, this is his fourth successful company in the cryptocurrency market. And it isn’t just cryptocurrencies that Jed McCaleb has his eyes on, but also artificial intelligence. This is a man constantly looking to the future for the needs of humanity.