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Jed McCaleb: Diving Into the Cryptocurrency Industry

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Many people have always dreamt of cryptocurrencies. These include e-cash, b-money, Digicash, and bit gold. All these became a reality in the year 2009. This realization came with the decentralization that bitcoin brought up and many people began seeing the many opportunities in the virtual currency market. Much more happened when blockchain technology became the source of the democratic world and brought changes in the industries. The relation made the grounds break, and more innovation research and projects were initiated. One of the earliest pioneers for cryptocurrency is Jed McCaleb.

The original idea from him was to help people minimize the fees and connect them to the entire world without challenges. This idea was swept away by the emergence of ICOs and crypto projects. Blockchain concept was supposed to be beneficial to people of all economic classes. This concept was birthed through the establishment of Stellar Company in 2014. Jed McCaleb co-founded the company. This project worked hard to avail a wide range of services to the clients with an aim to become a nonprofit firm fulfilling basic financial needs to people. Jed McCaleb became the co-founder for Stellar Development Fund in 2014. This project aimed to offer philanthropic services to the community in line with banking service. The project was non-stock and did not retain any profits for private investors or employees. The project was to allow people receive and send payments that go across borders.

To come up with this project, Jed McCaleb has noticed an issue in the world. The issue was that financial institutions and banks passed very tough restrictions for the common person. According to Jed, the financial infrastructure was broken and left ay individuals without resources. The experience with other work conditions before gave Jed a hint that the developing countries were not making any substantial progress. This led him to come up with this together with Kim so that people would have a cheaper and accessible online system of making payments in the entire world. The Stellar network was fully launched in November 2015. It is praised in offering fast and safe transactions over the world. Jed McCaleb is a fulfilled individual in this sector. Get more facts from cnbc.com.