Blockchain Industry Profiles: Jed McCaleb

Jed McCaleb

We should stop meeting like this! Well, no we shouldn’t – not if you want well-researched and engaging content on the stars of the blockchain industry. Our Blockchain Industry Profiles series is put together to be a handy resource of digestible information. Here, you will find everything you would want to know about the most prominent blockchain entrepreneurs.

 

Our post today will bring you the achievements of cold-footed Jed McCaleb. McCaleb moves quickly between projects and startups. Some may even consider him the Bill Gates of the industry for different reasons. Why is that? Keep reading to find out why and how this blockchain tycoon has made it so big.

 

West to East

Jed McCaleb was born and raised in Arkansas. He had a strong interest as a child in technology and went to study at the University of California. However, this is where our Bill Gates reference kicks in. Instead of finishing his degree and getting a job, he decided to drop out of university. Once no longer a student, he headed east to the big apple, and to start a flourishing career.

 

The Early Years

At the turn of the century, Jed McCaleb introduced the world to his startup MetaMachine and the eDonkey app. In the technology’s heyday, it played host to over four million users. Seven years later, he bought a domain to become a platform to trade an already-established online card set. However, that idea was discarded and it became remodeled as a platform to trade Bitcoin for US dollars. This became a thriving success in a short period but McCaleb sold up four years after its launch – and three years before the business collapsed. After selling up in 2011, he developed Ripple Protocol which was a blockchain technology that differed to Bitcoin through its mining technique.

 

Later Career and Achievements

Jed McCaleb stuck around his Ripple Protocol work to assemble a fantastic team. However, he moved on again and developed a non-profit foundation known as Stellar. The main purpose of this foundation was to facilitate cross-border transactions.

 

His latest work surrounds the launch of Lightyear.io. Ultimately, this is an exchange platform aimed at developing countries. It builds on the network he produced at Stellar. By adopting his previous achievements at Stella and applying them to Lightyear, the currency exchange could progress from the developing world to provide global solutions. Towards the end of 2018, Lightyear.io and Chain.com merged and became InterStellar.

 

Philanthropic Work

In the midst of McCaleb’s success, he has also contributed to the technological scene in other ways. At the beginning of 2014, he donated half-a-million dollars of Ripple’s success to the MIRI. This wasn’t a one-off gesture either. Around four years later, almost to the date, he became a donor to OpenAI. This organization is a group that improves human safety through technology.

 

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Stick around our Blockchain Industry Profiles corner for more on other Blockchain developers, investors and overall game changers. Alternatively, check out our other blockchain-related discussions and reviews in our other series. 

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