Jed McCaleb is the co-founder of Stellar, a nonprofit organization that combines technology with financial literacy. Stellar.org is supported by Stellar, a universal financial network. McCaleb enjoys using technology to help make the World a better place.
Jed McCaleb says that his interest in founding Stellar was shaped through Bitcoin. McCaleb saw that Bitcoin had the potential to change the World. Stellar was influenced by Bitcoin to create a financial network that connects financial institutions. McCaleb was alarmed when he found out that there are billions of people throughout the World who do not have access to a bank account. That means that many people are unable to save money. McCaleb also notes that many banks prefer not to serve low income people because of the maintenance costs. McCaleb sees Stellar as an alternative way for people to move money in a cheap and efficient manner.
McCaleb credits his success as an entrepreneur to his approach. McCaleb is often thinking about the long term plan. It’s important to have a clear view of where you want to go because differences in direction will negatively impact any productivity gains. McCaleb believes that making a global impact will lead to higher rewards. McCaleb tries to focus on creating great products instead of marketing them.
McCaleb understands that entrepreneurs will deal with failure and adversity. It’s important to be persistent, knowing that eventually you will be successful. McCaleb takes time to reflect on his failures and wonders if there is anything that he would have done differently. McCaleb tries to think rationally about his failures, while also noting the importance of being able to block out outside distractions.
Looking ahead to the future, McCaleb is excited to see artificial intelligence evolve. McCaleb believes that AI has the potential to solve problems and simplify things. McCaleb is proud to support the Machine Intelligence Research Institute, a non profit organization that oversees the operation of future types of AI software. McCaleb is a fan of Stack Overflow and Google Docs. McCaleb believes that every business should have upside potential.
Listen to Jed’s demo of Stellar: https://www.youtube.com/watch?v=GIMOrsPxlZg