Jed McCaleb is one of the leading entrepreneurs in the online digital financial space. The founder of Stellar.org, McCaleb learned early on the importance that an open-sourced financial network would have on the world. After learning that over 2.5 billion people in the world, particularly in third-world countries, do not have a bank account. That means they have no way to transfer money to others for goods or services. That is where Stellar comes in, by creating a financial infrastructure that allows anyone to exchange value around the globe with out the need for the traditionally expensive banking network.
The space is still in its infancy but is growing rapidly with the emergence of alternative digital currency like Bitcoin. In fact, Jed McCaleb founded the first online exchange for Bitcoin currency called Mt. Gox, back in 2010. By 2014, the company was handling over 70% of the all Bitcoin transactions worldwide. In 2011, Jed took it a step further by creating his own online worldwide financial infrastructure network, Ripple.
Jed McCaleb recently interviewed with ideamensch, giving insight into how he views the world. Jed says that the most interesting trend today is artificial intelligence. While the industry can seem scary at times, the capability will be able to “solve a tone of problems and make people’s lives easier.” He even has his hand in A.I. by contributing to the Machine Intelligence Research Institute, where he is also a technical advisor.
Having his hand in a number of technologies keeps McCaleb fresh and he says the key to his success is his ability to weed out the unessential when completing a project. His advice to fellow entrepreneurs is to think bug rather than small, because it only takes marginally more effort to accomplish big things than small things. He is a big fan of psychology and how the mind works when it comes to business.