Jed McCaleb is an entrepreneur, programmer, and businessman who has been behind several revolutionary companies and technologies. He gained notoriety for founding the company eDonkey. This was a file sharing company that allowed people to download files from multiple sources. This technology became the basis for modern file sharing.
Jed McCaleb was able to use the prominence gained from eDonkey to found the first bitcoin exchange known at Mt. Gox. Jed McCaleb was an early enthusiast of blockchain and bitcoin technology, and he has done a number of things to make bitcoin more useful. A bitcoin exchange allows bitcoin users to trade their bitcoins for either cash or products. This allows bitcoin to operate as a currency with central brokerages. Jed McCaleb was able to use Mt. Gox to take advantage of the increasing value of bitcoin while making it a product that most people know about.
Jed McCaleb is currently involved in a new venture to make blockchain technology a functional currency. He is doing this through his new company known as Stella. Stella is designed to offer companies open source software to help them better use the blockchain technology that makes bitcoin work. This technology will allow institutions to use bitcoin in the same way that modern financial institutions use traditional monetary products. This allows these companies to subject their use of bitcoin to takes and financial regulations while ensuring that they are guaranteed payment. In addition, this technology will allow companies to process bitcoin exchanges at the end of a business day. This is how modern banking processes international transactions, and Jeff McCaleb believes that it will allow companies to overcome the amount of time it takes to process a bitcoin exchange.
Jed McCaleb believes that the open source nature of his technology will allow Stella to be a success. Companies can use his technology for free, and any person has the chance to improve on his programing. Jed McCaleb will believes that this will result in his technology becoming the prominent technology for bitcoin exchanges, and he plans to continue to bring blockchain technology into a dominate financial product.