Jed McCaleb Names Evolving Tech as the Key to the Future
Jed McCaleb introduced the world to several early online innovations, including the peer-to-peer file-sharing giant eDonkey in the early 2000’s, as well as the first Bitcoin exchange, Mt. Gox, but it was after spending years in the financial technology industry, that he stumbled upon the idea for his latest endeavor. The launch of the Stellar Network ironically had its roots in Bitcoin, making use of its latent principles – being that it was a distributed database. Mr. McCaleb, recognizing that the world currently holds a large unbanked population, realized that he could create a platform that would connect financial institutions, making the transfer of monies cheaper and more efficient. The existing connections between financial institutions and systems are currently very limited, but the Stellar Network aims to strengthen these lines. Although still in the very early stages of implementation, the Stellar Network has already garnered the attention of the United Nations, as well as several prominent organizations, including the Praekelt Foundation of South Africa.
Since bursting on the scene at the onset of the dot-com boom, Jed McCaleb has been able to maintain an incredible record of success, due in part to his commitment to the organization. He stresses the importance of maintaining a lucid vision of the overall objective of any project that he participates in, while also keeping the habit of anything that is not essential to its successful completion. When working on the Stellar Network, he consistently breaks down his time into parts consisting of periods of focus and periods of reaction. While in his focus period, Jed McCaleb dedicates his time to improving the actual product by coding and building. While in the reaction period, he dedicates his time to answering emails and tending to the other minutia associated with running a successful business.
The rise of artificial intelligence has recently caught the attention of Jed McCaleb, prompting him to become directly involved. Joining the Machine Intelligence Research Institute, which is dedicated to creating tools that allow for the safe utilization of artificial intelligence, as an advisor, he has become increasingly excited, albeit a little frightened, about what the future holds for the tech.