There are few people in the blockchain technology as respected as Jed McCaleb. That’s why when he told CNBC that the blockchain industry would one day be a vital part of the banking industry people listened.
Jed McCaleb’s career, even for a programmer, has been unusual. McCaleb switches fields on a whim, and he has worked in a large variety of different industries. He has used his programming knowledge to positively change every industry he has been a part of.
The first industry that benefited from McCaleb’s knowledge was peer-to-peer filesharing. Back when Napster was the big name in downloading, McCaleb was working to innovate. Napster relied on a centralized server to house their downloads, and ultimately, this is what got them in trouble. eDonkey, McCaleb’s creation, simply allowed users to directly share files with each other. It was like friends sharing CDs and DVDs, instead of a company giving out content for free.
According to Global Coin Report, McCaleb’s next stop was video games. He didn’t design them or test them though. He created a third party marketplace for players of Magic: The Gathering Online to exchange in-game assets. This marketplace was called Mt. Gox.
Now McCaleb is involved in his biggest, most important venture to date: Stellar. Stellar deals with cryptocurrency but not in the standard way. Where most companies are using bitcoin and other cryptocurrency for questionable means to an end, Stellar is trying to change the world. Stellar is connect banks together, making it possible to conduct transfers and transactions at incredible speeds.
With McCaleb working to implement blockchain into the banking industry, it is no surprise that he was able to make his prediction.
“In the future, I think it’s pretty clear to me there will be a universal payments network,” McCaleb said to CNBC.
McCaleb has the knowledge to make this prediction because it is his company that is attempting to become this universal payment network.
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