Recently, Jed McCaleb, known for the creation of the file-sharing platform, eDonkey, as well as the very first Bitcoin exchange, Mt. Gox, sat down to discuss his current endeavors, as well as a budding form of tech that, in his own estimation, is sure to change the world completely over the course of the next twenty years. His new company, which is entitled Stellar, was created due to the vast potential of cryptocurrency, in particular, the most popular of them all, Bitcoin. Mr. McCaleb came to the conclusion that Bitcoin, as a distributed database, could be utilized to help solve a myriad of financial issues that have long plagued the developing world. While it was not his intention to create a new currency, he decided that it would be in his best interest to create a company that would connect new and traditional financial institutions with the unbanked population of the world. People throughout the developing world are currently charged astronomical fees, known as remittances when attempting to send money to family and friends. With his company, Stellar, he is seeking to provide a new way to move value, both cheaply and efficiently, for those who have not historically had access to these services. Although Stellar is still in the very early stages, a number of non-profit organizations and businesses, including the Praekelt Foundation, have begun utilizing Stellar within their financial infrastructure.
While Jed McCaleb has been actively committing himself to bringing Stellar to the world, he also has his eye on a new form of tech with, in his opinion, virtually limitless potential. Artificial intelligence, while not a new concept, is beginning to take off, and as of now, is providing the world with merely a glimpse of what is to come. He believes that due to its vast potential, the prospects associated with artificial intelligence are both exciting, and terrifying at the same time. As his interest in artificial intelligence has grown, Jed McCaleb has become actively involved in its development, working as an advisor for the Machine Intelligence Research Institute, while also contributing funding to its cause.