Why Jed McCaleb Wants To Change The Financial System

It was in 2000 that Jed McCaleb created the eDonkey network. At the time this was one of the worlds biggest file-sharing networks. He created it while working for MetaMachine, a company he founded as was the chief technology officer of. It was the first such network that allowed for multi-source downloading.

As an entrepreneur, Jed McCaleb has launched a number of other businesses as well. In February 2007 he established Code Collective which created a turn-based strategy game for personal computers. It got popular reviews on the online gaming site IGN. Once he ran out of time running this game he turned it over to a collection of players of the game who continued to operate is for a number of years.

In August 2011, Jed McCaleb founded ripple.com. This is one of the cryptocurrencies that has proven to be very popular with people who deal with these forms of currency. After working as an advisor for about three years (which he continues to do), Jed McCaleb co-founded his present company which is called Stellar Development Foundation. He is the CTO of this firm which operates a global financial network. Their website URL is Stellar.org and it offers open-source software. Stellar is run on a nonprofit basis. He says that his organization ties together both technology and digital financial literacy for those who want to know more about blockchain, the technology that underlies cryptocurrencies.

It is Jed McCaleb’s belief that the global economic system is completely broken for the average person. Many people around the world have no access to resources, even in the United States. He says that through his new organization he wants to help people become a participant in the economy. He says that the World Bank reports that around half of the adults on the planet, about 2.5 billion people, don’t have a bank account. When they need to send money to someone else he says that they encounter massive fees while people with bank accounts can easily move money around with little to nothing in the way of fees.

Read more about Jed McCaleb: https://github.com/jedmccaleb