Jed McCaleb Talks Stellar, Ethereum, Bitcoin and the Cryptocurrency Bubble

Jed McCaleb, noted software developer and co-founder of Stellar, spoke at an evening event that was scheduled as part of the Tel Aviv Fintech Week, a four-day program that centers on blockchain and fintech technologies, and includes conferences, talks and evening events. The event, held at the Tel Aviv arm of Rise, an innovation hub started by Barclays in 2016, also included Yoni Assia, founder and CEO of online investment and brokerage company eToro, and featured the financial and developmental future of blockchain technology as its central focus.

McCaleb discussed the Stellar platform at length, unpacking its functions and uses to those in attendance. Describing Stellar as an “open protocol for payments”, McCaleb framed the platform as an efficient and affordable means by which investors can become involved in burgeoning companies such as Airbnb and Wikipedia.

According to Jed, he also touched on the current cryptocurrency market, labeling Bitcoin “an awesome idea”, but an idea that could operate as more than a token given further development. He acknowledged that the market was in a bubble, but was confident that the structure of Stellar would immunize it from the effects of a crash; to emphasize his point, McCaleb compared the company’s secure model favorably to Ethereum’s more open-source, public structure.

“Making an asset on Stellar is easier, there’s no coding involved. But you can’t do whatever you want. However, 90% of what you want to do, you can do,” McCaleb said.

Before the founding of Stellar with Joyce Kim, Jed McCaleb had already founded peer-to-peer file sharing network eDonkey (which at its peak boasted as many as 4 million active users at any point) and bitcoin exchange platform Mt. Gox, as well as other startups. His alma mater is the University of California, Berkeley, but he ended his studies prematurely, relocating to New York to pursue an entrepreneurial career in software development.

McCaleb’s ownership in a previous company is currently worth $20 billion, putting his personal net worth at nearly $10 billion and making him one of the richest men in the world. Connect with Jed McCaleb on LinkedIn.

Watch this video for more information: https://www.youtube.com/watch?v=GIMOrsPxlZg

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