The Man Behind Stellar – Jed McCaleb

For anyone in the cryptocurrency community, the name of Jed McCaleb is more than familiar. This US programmer who is also a cryptocurrency and blockchain expert first appeared in the limelight when he participated in the creation of Mt. Gox, the very first Bitcoin exchange. He worked on projects like eDonkey and its peer-to-peer sharing system a decade before, which shows his ability to perceive the technology to come.

In 2014, McCaleb started his biggest venture to date, Stellar. This initiative represents his attempt at resolving the flaws in the financial system so along with Joyce Kim to create the Stellar Development Foundation. Stellar, a universal network dealing with the financial participation across different platforms was made soon after. Now, he serves as its co-founder and CTO, leading its technical development. In this role, Jed McCaleb is active in the actual coding process of the network along with his team, but he also keeps busy with customer communication and other business procedures.

In an interview, he stated that his idea for Stellar came about after realizing the Bitcoin phenomena and how many of its problems could be solved using blockchain. He also understood that any digital currency also needs a means of connecting with traditional financial institutions. That is why he decided to make Stellar, which is not a cryptocurrency, but an open-source network that is able to connect different financial institutions.
When McCaleb is not working on Stellar, he enjoys researching the abilities and the potential of AI, where he sees immense potential. In his view, Artificial Intelligence can solve a lot of contemporary problems and overcome blockchain in terms of its significance. Because of this, he is an active participant as an advisor at the Machine Intelligence Research Institute or MIRI. This non-profit organization is focused on creating tools that will guarantee the continued safe use of Artificial Intelligence in the future.
Of course, his success did not materialize from thin air. Jed McCaleb’s business philosophy is based on the idea of developing clear strategies and concrete plans. Without these, it does not matter how productive an entrepreneur is. According to McCaleb, he or she can still fail. That is the reason why he always assesses the risks and potentials of a new business venture. This way, any entrepreneur can start ventures that come with acceptable risks and from there build structures that have an amazing potential, just like McCaleb did.

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