Jed McCaleb and Joyce Kim co-founded Stellar in 2014 for one reason: to bring financial options to those that don’t have them. Stellar works with financial organisations all over the world to allow them to conduct cheap, secure international transactions. Stellar works with a few companies, like IBM, in the developed world as well; Stellar works with IBM to provide them with cheap alternatives to international payments.
Jed McCaleb serves as the CTO for Stellar, where he provides the programming expertise needed to make the company run. He worked on the technology behind Stellar on his own, and Stellar recently made a huge effort to improve their system even further.
This isn’t the first time Jed McCaleb has worked with decentralized protocols to innovate a tech industry. He previously founded eDonkey, a file sharing service that used a decentralized network to deliver files to its users.
With years of experience behind him and expert knowledge of several subjects in technology, Jed McCaleb has made an astounding prediction. He says that in the next 10 years the blockchain and banking worlds may be able to coexist as one entity. McCaleb believes one single network will encompass the entire world. This network must provide a public ledger to store its date; blockchain technology provides the most secure known method of storing data. The network must also be able to conduct transactions across all borders.
Stellar is currently working to fill all these requirements.
“In the next 10 years I wouldn’t be surprised if all equity isn’t tokenized on some blockchain somewhere,” McCaleb says. If his prediction is true it would definitely change the world. Even the average consumer could one day be using cryptocurrency to conduct day-to-day purchases.
Competition is thick in the blockchain industry, some companies are even fraudulent. Securrency is a legitimate company that is working with investors to make it possible for them to trade stocks with bitcoin.
It is hard to predict which of these crypto-companies will be on top in the next 10 or even 20 years.