Jed McCaleb, revered name in the programming community, has recently made a bold prediction concerning the industry that he is currently working in. As the CTO of Stellar, a blockchain company involved in the financial industry, McCaleb has the knowledge necessary to be able to speak on the future of blockchain.
In an interview conducted with CNBC, Jed McCaleb made his announcement. “In the next 10 years,” McCaleb said. “I wouldn’t be surprised if all equity isn’t tokenized on some blockchain.” McCaleb is of course referring to stocks. In addition to stock trading with cryptocurrency, McCaleb believes the banking system will one day be completely interwoven with blockchain.
Blockchain has a variety of advantages over traditional banking systems. A bank holds all its records in one single location; blockchain houses its ledgers of thousands of individual machines. This makes blockchain the single most secure technology in the world today. The ledgers created by blockchain are completely unhackable.
Speaking of stocks, one blockchain company is already working to create the possibility of purchasing stocks with bitcoin. Securrency offers services that allow investors to use bitcoin to invest in the stock market.
Securrency and Stellar may be competitors, but they are completely legit companies. Due to the popularity of blockchain, dozens of fraudulent companies have popped up. Legit companies that want to become a global platform must first wade through the fraudulent companies and worked to educate customers on legitimate blockchain technology.
About Jed McCaleb
McCaleb first made a name for himself in companies like Mt. Gox, eDonkey, and Overnet.
eDonkey and Overnet are two peer to peer file sharing companies that used decentralized technology to deliver files to users. Eventually, eDonkey and Overnet merged to create one massive file sharing network.
Mt. Gox, one of McCaleb’s most innovative ventures, was the first worldwide bitcoin exchange in existence. The company started as a marketplace for gamers, but due to McCaleb’s tenacity, he transformed it into an innovative platform.
Jed McCaleb founded Stellar alongside Joyce Kim in order to bring banking services to parts of the worlds that were going without. Thanks to Stellar, people all over the world now have the option to make international transactions.