Jed McCaleb Is Changing The Evolution Of Financial Institutions

Co-Founder of Stellar.org, Jed McCaleb, is changing the way we look at human inefficiency. While the human species is extremely delicate and intricate in how it works and functions, McCaleb acknowledges that the human condition does come with some inefficiencies. Jed McCaleb believes that utilizing technology can alleviate some of those issues and improve upon the human experience.

Stellar is a ground breaking company that provides a universal network of financial professionals and companies to increase participation in the economy to as many individuals as possible. Stellar.org is a non profit that combines technology and “digital financial literacy” on software that is easy for individuals to access. As an advisor to MIRI he has extensive experience understanding how technological-artificial intelligence can positively impact the human experience as time goes on and we move into the new generations taking over our world.

Jed McCaleb adopted the idea for stellar by drawing upon the workings and mechanisms of the popular online currency BitCoin. Stellar goes beyond BitCoin by combining BitCoin and other forms of currency from around the world and makes it available to the average human being. Half of the adults on this planet do not have a bank account and do not have their financial assets protected by any organization. The problem with the fact that many people don’t have access to bank account is that the average person without one will end up paying astronomical fees when sending and receiving money, they are unlikely to be able to save a significant amount of money for emergencies, and are unlikely to be able to attain a loan if they find that they need one.

The developing world has shown incredible interest in stellar.org and the great work that Jed McCaleb is developing. Many banks and financial companies are incorporating Stellar into their systems to be able to provide financial products to its people.

One of the most effective pieces of information Jed McCaleb shared in an interview with ideamensch is that divides his thoughts and priorities into two categories which include focused or reactive. When he is in focused mode he focuses on coding and developing technology, and when he finds himself in reactive mode that is when he can focus on responding to emails and interacting with others to help improve the functionality and worth of Stellar.org

Listen to Jed McCaleb speak here: https://www.youtube.com/watch?v=GIMOrsPxlZg

Leave a Reply