Jed McCaleb’s Newest Venture – Stellar Development Foundation

If you keep up with financial news, you probably know about Jed McCaleb’s newest venture, Stellar. Stellar Development Foundation is a project which aims at promoting economic inclusion and participation on the global arena.
Jed started the project after considering the plight of the unbanked population all over the world. According to statistics, well over 2.5 billion people in the world do not have access to banks. The main reason for this, according to World Bank, is that banks are expensive for low-income people. It is also strenuous for banks to avail financial services to low-income people because of high maintenance costs associated with offering banking services.
In order to find a solution for the problem, Jed McCaleb decided to launch Stellar Development Foundation in 2014. Stellar receives technical as well as financial support from, a non-profit which Jed McCaleb also created. The model involves the open source financial system which links financial institutions so as to avail seamless cash flow. This way, people can get access to finance cheaply.
About Jed McCaleb
Those who know Jed McCaleb also know him for his other ventures. He is known for his venture, eDonkey, which is a file-sharing platform. He is also known for creating Mt. Gox, which was the first platform for Bitcoin exchange in the world. He was also the creator of Ripple, which was also another great success. As a programmer, and a cryptocurrency expert, Jed is always eager to contribute to the global financial sector.
When he is not coding or running his business at Stellar Development Foundation, Jed McCaleb loves to research on artificial intelligence. He believes that through AI, the world can solve some of the problems it is currently facing. In order to stay successful and productive, Jed takes time to work on his business strategies and by leveraging the benefits of the internet.

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