Jed McCaleb Explains Why He Came Up With Stellar

The concept of cryptocurrencies has been around for years, long before the first one, bitcoin, was released in 2009. They are built upon blockchain technology which provides cryptocurrencies a decentralized ledger to track who owns what. They have been called a democratic phenomenon which will eventually disrupt a number of industries. One of the pioneers of this field is entrepreneur Jed McCaleb which saw their potential years ago.

Some of the main purposes that cryptocurrencies were meant to solve were to reduce the costs of moving money around and enabling people around the globe to financially connect with one another. However, this original concept has been buried by a deluge of new initial coin offerings and projects using crypto. Jed McCaleb came up with a new finance platform named Stellar which is designed to fulfill the original concept of digital currencies. Poor and rich alike can use Stellar all around the world. He set his organization up as a nonprofit, unlike pretty much any other entity behind other cryptocurrencies. His goal is to help people fulfill their basic financial needs.

Stellar Development Fund was established in June 2014. The goal is a philanthropic one, as Jed McCaleb explains it, which is to provide banking services to the half of the world who don’t have access to banking services. As a nonprofit there are no individual profits involved for either the employees of this organization or its investors. Stellar uses open-source code which allows people to send and receive cross-border payments over a service with is distributed in nature.

Jed McCaleb says that so far 100 billion Lumens have been created for the Stellar projects. Lumens are the name of the coin this system uses. His nonprofit adds another 1% of Lumens each year. In order to help get this project off the ground Stripe supplied $3 million and in exchange they received 2% of the Lumens that were available at the time. He says that 18 billion Lumens have been sent out to various entities to date, such as 4 billion to people new to Stellar and another 2 billion held by those who hold bitcoin.

Jed talks about how cryptocurrency will reshape the global payments in this article –

One Cannot Go Wrong

Anyone who is seeking a true and serious professional in the realms of finance, investments or anything in between should seriously consider the efforts of Jeffrey Schneider, CEO of Ascendant Capital, a company dealing in unique investment specialties based out of Austin, Texas. He founded the company in 2008 and continues to lead it to this very day. Having originally procured his bachelors of Science degree from the University of Massachusetts, Amherst, Mr. Schneider has worked his way up the ladder of corporate success slowly but surely. He has contributed to a number of philanthropic efforts worldwide, including Cherokee Home for Children and the Gazelle Foundation. Before working with Ascendant, he worked with a number of highly reputable companies with the same area of specialty.

After many years of hard work and faithfulness, he moved on from working with Merrill and Lynch, Alex Brown and Smith Barney to becoming the founder and CEO of Ascendant Capital. Mr. Schneider resides in Austin as well. Ascendant Capital began with only 30 employees, and in five years of hard labor and perfect communication skills alone, Mr. Schneider has increased this number tremendously. Now the company owns over $1 billion in assets and stocks. Over 50 brokers, an endless array of family offices and 250 investment advising professionals are now a part of the team as well. The capital and income gained have been put into use for purchasing real estate car dealers, specialty technology companies and much more.

With hard work and perseverance, the company’s growth has become uncapped with no plans to diminish any time soon. Mr. Schneider seeks every opportunity that he can find in order to keep the growth rising at a more rapid level. One of his goals is to raise around $50 million per month, starting in this year 2017. The culture at Ascendant Capital connects itself to the overall company’s success. The environmental changes have encouraged a spirit of self-reliance, honesty, entrepreneurial spirit, motivation and trust in the brand. When any company aligns its interests with that of its partners, employees and clients, one cannot go wrong.

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