Jed McCaleb Offers His Insights on the Future of Cryptocurrency February 2, 2018

Since bursting onto the online scene in the early part of the last decade with companies such as eDonkey, one of the first file-sharing services of its kind, and Mt. Gox, and early contributor to the Bitcoin exchange craze currently sweeping the nation, Jed McCaleb has been an active participant in the online community. During a recent interview, Mr. McCaleb sat down to discuss the trajectory of his latest online iteration, “Stellar,” as well as his daily routine, and the future prospects associated with artificial intelligence.

It was Jed McCaleb’s initial interest in cryptocurrency that led him to discover that by utilizing its underlying concept, the fact that it is merely a distributed database, that he could help to solve a problem that has long affected a large portion of the world’s population. Upon realizing that over two billion people around the world are unbanked, he could create a financial network that would help to connect this population with credible financial institutions. Under the current conditions, many of the world’s traditional financial institutions are not able to service people with low-income due to the high maintenance costs, as well as the large fees that they, themselves will be charged. Mr. McCaleb is already helping to change this situation, as several reputable non-profit organizations and business have begun using Stellar by incorporating it into their financial fundament. The Praekelt Foundation, based in South Africa, is one of the leading nonprofit organizations to already take advantage of the services available with Stellar, intermixing it with their app, Vumi.

When taking a break from building and improving Stellar, Jed McCaleb focuses a large portion of his time participating in the development of artificial intelligence. He recently partnered up with the Machine Intelligence Research Institute, acting as an advisor, in helping to develop groundbreaking advancements regarding the technology. When discussing the future of the artificial technology, he stated that he believes it will have a profound effect on the world’s population, making it exponentially more efficient. His excitement about the future of artificial intelligence is one steeped in logic, as he also recognizes that the power associated with this new tech is also one that should be catered too cautiously.

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