Jed McCaleb Uses Bitcoin to Create Stellar

Jed McCaleb, the mind behind eDonkey2000, one of the first and most prominent peer-to-peer file-sharing platforms of the early dot-com era, recently unleashed what he believes to be his most profound work to date, the Stellar Network. The Stellar Network is a localized financial network that will allow anyone, particularly the two billion unbanked people of the world, to transfer monies efficiently and at a low cost. After spending a number of years working in the financial technology sector, Jed McCaleb developed the idea for the Stellar Network out of his evolving interest in cryptocurrency, particularly Bitcoin. It was his realization that Bitcoin is simply a distributed database that transfers value from one point to another, that gave him the idea of creating a platform that would connect the financial institutions of the world. Although the Stellar Network is relatively new, having recently launched, it has already created a number of reputable partnerships, including the Praekelt Foundation, headquartered in South Africa. Currently, many of the established financial institutions cannot afford to service the needs of people with low income across the world, but with the Stellar Network, they will be able to transfer money at much lower rates than what is currently offered, while also increasing the efficiency of those transfers.

As an entrepreneur, Jed McCaleb maintains a strict schedule that allows him to take advantage of the time he is allotted to build and code for the Stellar Network. By staying true to the overall vision of the project that he is working on while eliminating the things that are unessential to its successful completion, he is able to implement a system geared toward maximum efficiency. Working with a like-minded team, while staying on the schedule that he has deemed most effective, has led to a myriad of successes throughout his career.

Realizing the prospects of artificial intelligence, Jed McCaleb recently began working with the Machine Intelligence Research Institute, whose goal is to create tools that will make artificial intelligence safe for future usage. In his opinion, the effect of artificial intelligence will be similar to that of the major revolutions that have shaken the world throughout history.

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