The Future of Blockchain Banking According to Jed McCaleb

Jed McCaleb is one of the most revered individuals in the blockchain world. Not only is he an expert programmer, he created the very first worldwide bitcoin exchange network. Within the tech world, Jed McCaleb has worked in a variety of industries and loaned his innovative thinking to a wide range of technologies.

 

Mt. Gox was the name of this exchange network. It began as a simple market place for Magic: The Gathering Online players to trade cards, but realizing the potential, he changed the company’s focus to the ever growing bitcoin.

 

With his in-depth experiences in the blockchain and cryptocurrency world, he has the knowledge required to make a shocking prediction: one day blockchain technology and the financial industry will be synonymous with one-another.

 

“In the future, I think it’s pretty clear to me there will be a universal payments network that will operate,” McCaleb declared in an interview. Already, his idea is a self-fulfilling prophecy.

 

McCaleb is in a position to make his prediction come true. He is the co-founder and CTO of Stellar, a blockchain technology that works within the banking world. In the few short years that Stellar has been in operation, Stellar already has dozens of clients all over the world that use its systems. The biggest, most famous company to implement Stellar into their transaction process is IBM.

 

Stellar certainly has the network to become the single worldwide transaction network that McCaleb spoke about. Stellar boasts impressive transaction speeds that can’t even be matched by bitcoin. Stellar is primarily operating in the South Pacific, but their target audience is absolutely anyone who doesn’t have financial services available to them at the moment.

 

“In the next 10 years I wouldn’t be surprised if all equity isn’t tokenized on some blockchain.” McCaleb said. McCaleb argues that even stocks will one day be traded with some sort of blockchain ledger. If a blockchain company is able to ink such a deal, it would mean and more safe, secure marketplace.