Are you ready for the new advancement and twist in the banking industry? You just have to prepare for the next major shift that will change the banking face emanating from Blockchain technology. In the near future, there will be an emergence of a universal payment system that will surpass all the restrictions and boundaries. This is the clear prediction of one of the renowned cryptocurrency guru Mr. Jed McCaleb.
Jed McCaleb is currently the Co-founder of one of the best performing platforms called Stellar. Previously he founded Mt. Gox exchange. In Jed’s vision, people will be using dollars and euros in the universal payment and other currencies they are used to. His aim has always been to repair the broken financial infrastructure in our modern world and this has led him to come up with the Stellar project.
Serving as the Chief Technology Officer at Stellar, Jed McCaleb has enabled the platform to become one of the best and popular in the creation of new tokens and also in distributed applications. Its digital asset called XML is in the best 10 crypto assets list by market capitalization. Jed also serves at Machine Intelligence Research Institute (MIRI) as an Advisor.
Jed McCaleb started Stellar platform focusing on the speed which actually it has achieved. With Stellar, you make a transaction in seconds and carry out quick exchanges of your traditional financial stocks, currencies, assets or bonds. The reason why this platform can be used in carrying out universal transactions is its ability of tokenizing financial assets and consequently making the transfer secure in a cryptocurrency protected network.
Stellar seems to continue gaining popularity especially when it comes to international transactions. It is the platform being used by IBM to carry out its transactions. Though there are many challenges facing the cryptocurrencies and other blockchain services including regulations from China, there is hope that Blockchain technology is the banking future.
According to Jed, the future is likely to digitize all financial assets, stocks, and equities and be transferred technologically using distributed ledgers. This will eliminate barriers and allow smooth borderless transactions. And consequently, it will bring about decentralization of exchanges in all transactions. Stellar is already there, it is waiting for the world to harmonize.