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Jed McCaleb Explains the Blockchain Payments Situation

The past few years have seen people rush into the idea of cryptocurrencies, often referred to as digital money that is backed up by enormous algorithms made for security, record keeping and the purposes of verification. With bitcoin taking the lead in the current industry, other currencies naturally take the next positions. Many investors and experts have delved into the opportunity of putting money into this investment. Jed McCaleb is just one of them.

 

Background Data

 

Jed McCaleb is a renowned programmer and bitcoin developer. Well known for founding the likes of eDonkey and now Stellar, McCaleb recently gave his opinion on the future of blockchain payments. In his interview with CNBC, he explained it in notable segments that cannot be ignored. Here are some excerpts of Jed McCaleb’s interview.

 

More Information

 

According to McCaleb, current versions of bitcoin will be managed in ledgers. All payments will also be run through universal networks of payments that will involve a concrete ledger based on the factual details of every individual user. Of course, the same universal payment networks will allow people to use different forms of currencies including dollars and euros.

 

The Overview

 

Jed McCaleb is the co-founder of one Stellar Organization. He is in charge of the technical team. Coincidentally, Stellar Organization is working on fixing the stated issues by settling transactions in easier ways. Moreover, the foundation allows every user to deal in government-backed currencies as well. Given that large banking institutions like IBM are already using Stellar, it is credible and can be trusted to deliver the promises made by McCaleb.

 

Who is Jed McCaleb?

 

McCaleb is a serial bitcoin and blockchain investor. He has been in the industry for decades and understands what the future holds for other investors. His career began when he worked on digital currencies under which networks were verified. Ripple protocol was by far way different from the rest of the mining techniques.

 

Recently, McCaleb developed Lightyear.io. This is a commercial project based on the services provided by the Stellar Network. The organization facilitates Stellar’s project of becoming a universal payment currency exchange in developing worlds especially.

Spiraling Start-ups for Visual Search Technologies

Visual search start-ups are helping companies to allow their users find their products online based on the photos of objects they are looking for. Some of this start-ups include Stylumia and Slyce that offer artificial intelligence-based solutions for smart visual shopping online. Most people face a problem when shopping online especially for fashion related products. For instance, when you try finding clothes online through search you find out that the clothes or shoes are either too large of too small or you end up not getting stuffs that are similar. Due to frustrations, many people have opted to use the old ways of visiting the stores.

Stylumia Intelligence Technology Pvt Ltd is one of the start-ups that has offered artificial intelligence-based solutions for visual search online. Slyce, on the other hand, is delivering on its promises on the visual search’s breakthrough year of 2016. With the rise in the number of customers making purchases through mobile phones, it’s about time companies progress to the next revolution in visual search. The numbers have been very promising as Walmart recently reported 70% surge in the Black-Friday sales transacted through mobiles phones.

Some of the brands embracing the idea of visual search include Neiman Marcus, ToysRus, Target, and Home Depot. Slyce has been named the company to watch by Small Cap Power in developing the image recognition technology. Equities.com, a prominent financial data and a portal for news and social network for investors, claimed that the visual search technology as developed by Slyce has surpassed most artificial intelligence ideas. Slyce is now recognized as the proven leader in visual search technology and major brands have now taken notice of the company’s growth and “landmark partnerships”.

There are multiple start-ups globally that are trying the crack the benefits of visual search technologies. Pinterest is one of the companies that has reaped the benefits of adopting visual search. In India, start-ups like iLenze acquired about $500,000 in funding and SnapShopr, which its undisclosed funding are progressing with image recognition and visual search technologies. Chennai-based Mad Street Den obtained a funding of $1.5 million in 2015, and it’s now offering a visual recommendation engine to allow users to see the relevant guidance.

The world of e-commerce is booming. Start-ups like Visenze from Singapore and various start-ups in India are setting operations in India to cater for the rising demand. Many of these start-ups have sort to cater for multiple verticals and prioritizing the consumer applications.