Jed McCaleb has bet against the financial system for years before it was popular. The founder of several successful start-ups, McCaleb knew early on how technology would play an important role in the financial industry. He recently sat down for an interview with the folks over at ideamensch, where he explained his philosophy on how technology can and should be used to progress society into the future.
When asked about what inspire him to start his current project, Stellar.org, Jed McCaleb said that it was his interest in the cryptocurrency, Bitcoin. He recognized the need for linking financial institutions and people together, especially the 2.5 billon people that are unbanked around the world. Stellar is a way for people to trade ‘value’ and is an open-source financial network in a much more efficient and less expensive way. He recognizes the need for such a product and predicts that in the next decade, the industry will grow exponentially.
When asked what emerging industry most intrigues him, McCaleb explained that the immense potential of artificial intelligence is the most exciting, yet terrifying, trend out there. He has contributed to the Machine Intelligence Research Institute (MIRI), a non-profit that explores this phenomenon.
Jed McCaleb believes that the key to a successful business is spending a large chunk of time and resources in creating a great product that fills a need. He believes that too many young entrepreneurs focus too much on marketing the products they create.
Jed McCaleb is a cofounder and head of technical development of Stellar, a financial network that allows for all to participate. He is also the founder and creator of eDonkey2000, a file-sharing network that was one of the largest of the early 21st century. He founded the first online exchange that dealt exclusively with Bitcoin, called Mt. Gox. He also founded Ripple, a seamless way for people to send money to each other all over the world.
Watch Jed McCaleb on Youtube: https://www.youtube.com/watch?v=MSKWoan6qgI