Blockchain will connect the world’s money in a few short decades. Jed McCaleb envisions such a future. Regardless of the toxic validity of bitcoin, McCaleb works toward a blockchain world.
McCaleb’s current project, Stellar, is an infrastructure to connect world financial systems. The Stellar network goal, process world monetary transactions in seconds for pennies per transaction.
Jed McCaleb’s significant prediction, all non-crypto assets will be using the blockchain technology in the next ten years. Jed would not be surprised if all equities were not tokenized on some blockchain, decentralized networks need to be in place, McCaleb believes. Blockchain start-ups are challenging traditional financial markets. Companies are working on ways to purchase equities by bitcoin.
Jed McCaleb has been at the launch of several coin offerings. The XRP coin is now third largest by market cap. Stellar’s Lumens or XLM coins are the tenth largest crypto on the market.
According to the Global Coin Report, fundraising by Initial coin offerings are testing long-established markets. Individual investors do not have to sit on the sidelines, compared to traditional initial public offerings. Speculators only need buy the coin associated with the offering. Fraud has also made a move to crypto, regulators have begun to take notice of the fraudulent conduct.
Some of the largest financial institutions in the world are starting to see the immense potential of blockchain technology. Jamie Dimon, Chairman of JP Morgan Chase and other world leaders, have established their blockchain networks. IBM is using the Stellar network to establish a cross-border payment structure. World financial leadership envision transactions verified in hours rather than weeks.
Blockchain technology is cutting out the middleman. View Jed’s work history here.