Jed McCaleb is the creator of eDonkey, Mt. Gox, and Ripple. He is a firm believer in technology making our lives easier and helping us to work more efficiently. With this mindset, he saw that the world’s financial infrastructure is damaged leaving to many people without basic necessities and resources. This realization led Jed to co-found Stellar.org in 2014.
Jed`s role is that he is the leader in technical development. Stellar is a network that`s goal is to increase the economic participation of every individual. The network is supported on its website, Stellar.org, which is completely nonprofit.
The idea for Stellar came from Jed McCaleb`s interest in Bitcoin`s potential. Bitcoin is a distributed database and this idea could solve many of the issues he saw. Though bitcoin moves currency from person to person, Stellar links financial institutions to one another. Thus making it much easier and cheaper to move money.
About half of the world`s adults are unbanked. Due to this, they do not have bank accounts, cannot save money nor send it unless they pay extreme fees. The reasoning for this is that it is just too costly for banks to serve low-income people. Transfers are also expensive because there is a lack of connections between banks and other financial institutions. This is where Stellar can help by making connections and moving money effortlessly.
Jed McCaleb spends a lot of time strategizing and searching for the most simple solution to his plans.He believes that if your goals aren’t set, how productive you are is obsolete. He focuses on what is crucial to reaching his set goals and doesn’t let unnecessary thoughts cloud his judgment.
Another belief of his is that if you focus on building a truly great product, it will get known. With the help of the internet and social media, in today`s society news circulates very quickly. This allows marketing to be much easier than it was years ago. As long as you keep it simple and make a product that actually fills a common need people have, it is more likely to catch on.