As the founder of many technology startups, Jed McCaleb knows that the key to success is creating a product that fills a need that many people have. With his latest endeavor, Stellar, recognizes the financial needs of the unbanked. There are over 2.5 billion people in the world that either do not have access to a financial institution or choose not to. This is approximately half of the population, which is where McCaleb hopes Stellar can come in. McCaleb did an interview with ideamensch recently where he tells of his inspiration for Stellar and other projects he has been associated with.
Jed McCaleb helped to cofound the open sourced Stellar in order to serve the people who did not have access to banks but that wanted to exchange value. One example is a how a company in South Africa is using Stellar’s financial infrastructure to let young girls save money in airtime credits and exchange those credit for other items they wish to purchase. Prior to Stellar this was impossible to do in the developing world, which is where McCaleb sees Stellar doing a majority of its business. He also sees it being used all over the globe in the future as more and more people are finding banks to be a risky place to put their money.
Jed McCaleb is not new to this type of business, as his startup, Mt. Gox, was the very first online Bitcoin exchange. The success of Bitcoin is what prompted him to start the business, and it was a massive success. He also founded one of the largest file-sharing platforms in the early stages of the phenomenon, named eDonkey2000. He has had success in nearly every venture he was undertaken and none was as successful as Ripple, a block chain solution for people and businesses to transfer payments worldwide.
More one Jed McCaleb: https://en.bitcoin.it/wiki/Jed_McCaleb