Jed McCaleb, a true pioneer in the blockchain world, has made a bolt and exciting prediction for the not-so-distant future. He predicts that in the next 10-years blockchain technology and the banking system will be seamlessly interwoven.
Jed McCaleb first made a name for himself during his world wit decentralized file transferring protocols. Jed’s originally idea has been expanded on over the entire existence of the internet and is still used today to transfer files between users. He created two companies with this technology: eDonkey and Overnet. Eventually the two companies merged as one.
McCaleb entered the blockchain world with Mt. Gox, one of the worlds first global bitcoin exchanges. The company began as a simple marketplace for video gamers, but quickly realizing his tech’s potential, McCaleb switched focus.
All of McCaleb’s ventures led to him creating Stellar, a blockchain technology that works with financial institutions to provide cheaper transaction costs. As Stellar’s CTO, McCaleb has all the knowledge to make a ground breaking prediction.
“In the future,” McCaleb began. “I think it’s pretty clear to me there will be a universal payments network that will operate.” McCaleb could be speaking from his own knowledge of what Stellar is capable of. Stellar is in the process of meeting all the demands that McCaleb later laid out.
McCaleb says that the future global network must be able to operate with every currency in the world. This network must also be able to make transactions cheaper than other methods and keep their records on a public ledger. Blockchain is already the safest, most secure transaction method offered today.
There are hundreds of other blockchain companies out there. Securrency, one such company, is already working to trade stocks with bitcoin.
Stellar is already working with dozens of companies all over the world to bring banking options to countries that previously didn’t have them. Stellar has operations all through-out the South Pacific and even works with the IBM, the tech giant, to make it possible for them to conduct transactions all across the world.