Jed McCaleb is an early innovator in the cryptocurrencies industry. He is one of the pioneers of the industry who came not just to trade the currencies but to make the blockchain technology prominent. He has been facilitating innovations in the industry which have eased the manner in which transactions involving cryptocurrencies are traded. McCaleb was among the first persons to create an exchange platform for bitcoin. His exchange platform was known as Mt. Gox bitcoin. This is a platform that was transacting over 80 percent of all bitcoins in the market at the time. Mt. Gox bitcoin was however just the beginning of the journey for Jed McCaleb. He was determined to change the cause of action in the industry in the fastest manner possible. He was committed to helping the society deal with the issues surrounding the application of cryptocurrencies.
Jed McCaleb is currently the co-founder of Stellar, another organization that is committed to making changes in the cryptocurrencies industry by introducing a payment system that will allow payments using cryptocurrencies. The payment system that Jed McCaleb is talking about is one where everything in the market will be running smoothly such that cryptocurrencies will be used just like any other currency.
The universal payment system will involve a cross-border currency system that can allow payments of any form to be done using the digital currencies and the money on the other end received in the currency that the recipient wants. A universal payments system using the Stellar concept is being developed by IBM in collaboration with a number of large banks in the world to ensure that everything is running on smoothly.
Jed McCaleb is hoping that in the next one decade, there could be changes that will see even non-crypto assets incorporated in the blockchain system. With the recent developments, there is a high probability that the blockchain industry will take over the whole financial industry in the future. Blockchain technology will create a decentralized system where the public ledger cannot be altered arbitrarily. The development of this system is also likely to bring a large number of people of people on board in the cryptocurrency industry.