Jed McCaleb is one of the most revered names in the tech world. No matter which industry he is working in, his peers have looked to him for advice. For nearly 20 years, McCaleb has been working with decentralized protocols to create faster, easier access to services.
He originally used such technology to develop a program to link thousands of users together in order to share files. Using decentralized networks to share files has grown into an industry standard since Jed McCaleb created eDonkey. Prior to eDonkey there were companies such as Napster that operated, but none of them used a protocol quite like McCaleb’s eDonkey.
McCaleb then created Mt. Gox, a marketplace for gamers. The company provided a platform for players of Magic: The Gathering Online to trade and sell their cards. McCaleb eventually transformed Mt. Gox into the world’s first bitcoin exchange network.
Now as the co-founder and CTO of Stellar, he brings banking services to the impoverished. Stellar was founded by Joyce Kim and Jed McCaleb, and their blockchain system makes it possible for impoverished countries to receive financial services that they previously went without.
His role at Stellar makes him the perfect person to predict the future of blockchain technology. Jed McCaleb isn’t only claiming that blockchain will still be around 10 years from now, he is saying that it will be an essential part of the banking system.
“I think it’s pretty clear to me there will be a universal payments network,” Jed McCaleb said. Blockchain companies will have to first accomplish much more before this happens. Stellar, or any other company attempting to become a global network must first build relationships all over the world; Stellar is currently focusing on underdeveloped countries like Asia. Due to Stellar, countries that previously couldn’t conduct international transactions now can.
Jed McCaleb also says even stocks may be subject to this change. He expects non-crypto assets will also be traded using blockchain technology.