Jed McCaleb-A Decentralized Future for Currency

Jed McCaleb is Chief Technology Officer at Stellar, a cryptocurrency development company, that aims to use blockchain technology to support cross-border payments on a secure platform. Jed McCaleb predicts that the technology associated with cryptocurrency will change the way global payments function, and will also affect fundraising and stock markets. During a recent CNBC interview, McCaleb stated that “In the future, I think it’s pretty clear to me there will be a universal payments network that will operate, a public ledger that people can see and can’t change arbitrarily”. This network will use the current forms of currency that people are used to, such as Dollars, Euros, and British Pounds. IBM is currently using Stellar’s network to develop a payments system that crosses borders and will be used by select banks.

 

Token Sales, or “initial coin offerings” have totaled around $9 billion in a little over four years, and McCaleb notes that this a phenomenon that shows an untapped market. These tokens can possibly appreciate in value as the market continues to grow.

 

Although many fraudulent vendors have arisen, most who are proponents of this growing technology say that this represents a new model for fundraising. Due to the fact that revenue made from token sales is being invested directly in the companies undertaking these development projects, investors have a hand in helping to grow the blockchain crypto startups.

 

McCaleb believes assets like stocks will become digitized using the crypto blockchain technology. He speculates that in the next 10 years it is likely that all equity will become tokenized on a blockchain since this allows for greater amounts of encrypted security and uability. Due to the number of people trading in the state of the current market, it is plausible that most if not all future exchanges will be decentralized. It seems as though centrally controlled exchanges may become a thing of the past. There is an obvious shift being made towards this more secure, more dependable, less centralized network of exchange. It is very well possible that in the next few decades there will a gradual push towards integrating blockchain technologies into most practical exchanges.

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