The name Jed McCaleb has been associated with some of the most impressive cryptocurrency companies yet to be created. McCaleb began his work with the bitcoin industry with the bitcoin exchange Mt. Gox and now works with Stellar as its chief technology officer. McCaleb and Stellar are currently hard at work developing a network for cryptocurrency that facilitates cross-border payments.
Jed McCaleb, while talking recently with CNBC.com says that a universal network for payments is approaching in our, not too distant future and will be connected to things that people are used to using like Euros, dollars, etc.
Not so surprisingly, the company for which McCaleb works is seeking to achieve this solution first. Stellar boasts of a transaction time of five seconds or less and provides a way for users to exchange currencies that are backed by world governments. IBM presently using the network provided by Stellar to develop payments systems that cross borders with some of the larger banks with which the company does business.
Another opinion of Jed McCaleb is that the feverish sales pace of initial coin offerings, which have raided %9 billion in just four years, give hint to the fact that the market still possesses room to grow.
This influx of monies has also given rise to a number of fraudsters that pretend to be running similar fundraisers and have caught the attention of regulators in many countries. But cryptocurrency proponents stress the fact that this type of business fundraising is here to stay.
These types of ‘coin sales’ are different from conventional methods of business fundraising such as seeking venture capital because these token sales are by way of individual investors and can benefit the investor by either providing a future platform or providing a profitable return on investment.
A final projection by McCaleb is that assets that are not associated with crypto technology like stocks will soon become digitized by use of the same technology.
Several companies have already been seen to make attempts at connecting traditional financial markets to digital currency and one of them, Seccurrency, a company that is headquartered in Maryland, is expected to soon allow stock purchases with bitcoin.
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