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.

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