Jed McCaleb is a world renowned programmer who has worked in industries all across the board. As an entrepreneur, McCaleb is the founder or co-founder of several innovative tech companies. His resume includes the invention of file sharing protocols, video game marketplaces, and he is now the CTO of Stellar, a blockchain company.
McCaleb said he first heard about bitcoin while reading an article on Slashdot in 2010. “Pretty immediately I thought this was amazing,” Jed McCaleb admitted. “It would be really cool if there was a kind of money that wasn’t centrally controlled, but I didn’t think it was actually possible.”
Mt. Gox, McCaleb’s company at-the-time, was merely a platform for video game players to trade their in-game assets. When McCaleb found out about bitcoin he switched the focus of his company towards the new decentralized currency. McCaleb instantly transformed Mt. Gox into a world wide bitcoin exchange platform, the first of its kind.
McCaleb sold Mt. Gox to Mark Karpeles, of Japan in 2011, only for it to be ran into nonexistence due to a couple of hacks. McCaleb held 12% stake in Mt. Gox at the time of the hack, but he was primarily focusing his attention on other ventures: solving the problems of Bitcoin.
“One of the things that bothered me about [Bitcoin] was this mining process.”McCaleb said. McCaleb created new cryptocurrency technology that was later used to create the Stellar protocol.
Jed McCaleb and Stellar are now using their protocol in partnership with financial institutions to make transactions across dozens of different currencies. Stellar is able to store almost any type of asset and instantly translate these assets into Stellar’s lumens currency. Stellar primarily works in Asia and Europe but also work with American company, IBM.
IBM may no longer be their largest partner. Jed McCaleb recently teased a new partnership. He refused to announce the partner’s name, but he said the company will enable Stellar to someday become a global payments network.
“I think 2018 is going to be pretty huge for us,” McCaleb said.