Jed McCaleb is a highly successful entrepreneur who believes that you should put people first, and profit second. As the co-founder and Chief Technology Officer of Stellar.org, he has created a unique way to assist individuals and communities who don’t have access to bank accounts. Jed McCaleb was inspired by Bitcoin and has aimed to fill a void in the financial world, offering low to zero cost solutions to make worldwide financial transactions.
Stellar.org’s non-profit business model is to cover their operational costs primarily through donations and from five percent of the foundational digital currency called lumens. With Jed McCaleb’s guidance and technical skills, the non-profit has been able to successfully connect Bitcoin and other digital currencies to banking institutions. Stellar.org has transformed the idea of currency, allowing emergent countries to access and use currencies specific to their community.
It’s not surprising that Jed McCaleb leads the charge when it comes to breaking down the barriers of the financial world. In 2000, he and co-founder Sam Yagan created eDonkey, a large file sharing network. He was also responsible for creating and coding the digital currency exchange sites Mt. Gox and Ripple. Jed McCaleb also has a great respect for what artificial intelligence will become, and that’s why donates his time to the Machine Intelligence Research Institute (MIRI) where he is a general advisor.
Jed McCaleb has made a large impact in the world of technology and is a high achiever, but his success didn’t happen overnight. For an entrepreneur to be fruitful, he believes that producing a quality product that will benefit many consumers is preferable to focusing on a niche market. He has learned to be strong in business even when things don’t go as expected, and that it’s important to understand how much risk you can handle when starting out.