Distributed solutions and blockchain technology will disrupt industries such as fundraising access, stock markets and payments made globally. Mt.Gox exchange founder Jed McCaleb made this predication along with the Stellar project. McCaleb has been close to the crypto asset world since it started and has increased his confidence in the crypto world going mainstream. He believes that there will be a universal network of payments involving a public ledger in the future. People will not be able to change it at their will, and it will something everyone can see using currency they are used to.
Jed McCaleb sold Mt. Gox exchange during 2011 and was operated by Mark Karpelles until 2013. It was under Karpelles leadership that the exchange was hacked, and it subsequently crashed. It is still considered to be one the crypto coin world’s most infamous events. Bitcoin slide to lows near one hundred dollars from highs of over a thousand dollars as a result of the exchanges 2013 crash, and for years the price was depressed.
Jed McCaleb is not only Chief Technology Officer of Stellar, he is also a co-founder. Stellar allows for new token creation and distributed applications creation and is a prominent platform. Among market capitalization’s top ten crypto assets is XLM, a digital asset of Stellar. The reason McCaleb started Stellar was that he recognized the financial infrastructure of the world was broken. Stellar’s platform attempts to find a solution to this by scaling blockchain to meet the volume and speed on tradition systems for financial transactions.
Transactions are settled in seconds using Stellar, and there is a second layer that allows tokenization and exchanging of currencies, stocks, bonds and other financial assets. This capability makes Stellar able to securely handle international transactions. IBM has confirmed that Stellar is the platform it used to get cross border transactions done with a low fee, faster.
Find out how Stellar lumens technology could change the global payment system: https://globalcoinreport.com/stellar-lumens-technology-will-lead-to-new-global-payment-systems-jed-mccaleb/