The Blockchain Revolution Is About To Begin Predicts Jed McCaleb

19 Apr

The Blockchain Revolution Is About To Begin Predicts Jed McCaleb

The blockchain technology has allowed for cryptocurrencies to take the financial market by storm with more revolution being expected in the industry. According to Jed McCaleb who created Mt. Gox bitcoin exchange, the blockchain technology will in the near future lead to universal payments network. The co-founder and chief technology officer at Stellar said they are concentrating on generating a cryptocurrency network for cross-border payments. As a developer, he believes that the technology used in cryptocurrencies will change stock markets, global payments, and fundraisers. There will be public ledger accessible to all people, and that cannot be changed at random, giving people a chance to use dollars, euros and other things as they are used to.

Research has shown that initial coin offerings (ICOs) also known as token sales have raised a combined $9 billion in four years, revealing an untapped market in the financial system. It is worth noting that unlike capital ventures, token sales go to the retail investor directly who contribute to a project by buying digital coins. They appreciate in value with time giving the investor some future platform. They represent a new fundraising model that has been made trustworthy by the new MiFID II directive rules. They demand traders to specify new requirements for the minimum leverage value of 1:50 and bars bonus programs common to traders to curb fraudulent companies and fundraisers.

Jed McCaleb expects the blockchain technology will digitize non-crypto assets such as stocks. He believes all equity will be tokenized using the technology using a decentralize exchanges that will allow people to trade in a number of things. He quotes Securrency a Maryland based firm that is working towards allowing investors to buy stocks using bitcoin.

At Stellar, the lumens or XLM coins have entered into the top 10 of the most significant cryptocurrencies by market capitalization. Jed McCaleb believes technology can reduce inefficiency and improve living conditions. He has a special interest in artificial intelligence which he believes can be used to alleviate some of the human problems serving as an adviser to MIRI.


Leave a Reply

Your email address will not be published. Required fields are marked *