McCaleb co -founded Mt. Gox as a platform to exchange Magic game cards. By noticing Bitcoin's potential, McCaleb turned Mt. Gox into an exchange of cryptocurrencies. Jed founded Ripple Labs in 2012 together with Chris Larsen, a business executive. In 2013, McCaleb left Ripple Labs due to disagreements with Larsen. Jed McCaleb founded Stellar in 2014, in order to create a decentralized payments network. Jed McCaleb He is the founder of Stellar and co -founder of Ripple, two of the best known projects of the cryptocurrency ecosystem for the sending of remittances. Currently, he occupies a position in the Stellar Development Foundation Council, an organization that created in 2014 along with Joyce Kim. Stellar focuses on offering rapid and economic money transfers, with the aim of promoting financial inclusion worldwide.
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McCaleb has been a controversial figure because he left Ripple when he was in his peak, an attitude he took due to personal ideals. Source: Stellar.org
What companies have Jed McCaleb worked?
Jed McCaleb has had an outstanding race in the world of cryptoactive ones, leaving a significant mark on several companies in the sector. For example, he had a fundamental role in the creation of Ripple and XRP. Later Stellar founded, a project focused on financial inclusion, especially for communities without access to banking services.
COFUNDADOR AND CTO DE METAMACHINE INC. In 2000, Jed founded this company and launched the EDONKEY2000 application, one of the most popular point -to -point file -to -point exchange networks of its time.
Founder of Mt. Gox: In 2010, McCaleb launched this platform that was initially dedicated to the exchange of Magic collectible cards. Over time, Mt. Gox evolved to becoming Bitcoin's greatest exchange in the world. He sold the company in 2011 and remained a minority owner until its collapse in 2014, due to a massive theft of funds that led to its final closure.
Founder of Astera Institute (2010): This non -profit organization works to promote science and technology projects that can improve people's quality of life. Its approach focuses mainly on areas such as artificial intelligence, health and well -being. The organization also offers programs such as residences and research opportunities.
Founder of Vast: In September 2021, the developer founded Vast, a company dedicated to creating the first space station with artificial gravity in the world, a key milestone for life and sustainable work outside the earth. Vast's most immediate project is the Haven-1 space station, a module that is planned to launch in August 2025 in collaboration with Spacex. This module will have a habitable volume of 45 cubic meters and will include essential facilities for four astronauts, such as a laboratory, a communal table and a married window of a high meter.
What role has Jed McCaleb played in the development of Ripple?
In 2011, Jed McCaleb began working with Arthur Britto, David Schwartz and Ryan Fugger in the development of what would later become Ripple. A year later, with the incorporation of Chris Larsen, Jed helped to found the company and had a crucial role in the creation of the protocol and the XRP currency. Jed played a fundamental role in Ripple's positioning as an innovative technology. His vision focused on trying to correct the deficiencies he perceived in the traditional financial model.
When did Jed McCaleb join Ripple?
McCaleb joined Ripple in 2012 as a co -founder, working with Chris Larsen in the establishment of the company and in the development of his cryptocurrency, XRP. McCaleb made it possible that, in the first years of operation, Ripple will specify his first investments and to show Ripple as an alternative to correct the efficiencies of the traditional financial system. However, due to disagreements with the Ripple Directive and its business approach, Jed decided in July 2013 to leave his position active in the company.
Jed McCaleb and Chris Larsen, co -founders of Ripple, worked together at the beginning. However, their vision differences led them to take separate paths. Source: LinkedIn
Why did Jed McCaleb Ripple left?
Jed McCaleb left Ripple in 2013 due to internal disagreements about the vision and strategic approach of the company. David Schwartz, current CTO of Ripple, explained in Quora- social- that McCaleb proposed several ideas that were rejected by the Board of Directors, without specifying what these approaches were- although he did talk about a raffle on Facebook that the Board of Directors did not want to carry forward-. Over time, McCaleb explained in interviews that wanted a more open and decentralized structure for Ripple, while Chris Larsen was inclined to a more centralized direction.
What role has Jed McCaleb played in the development of Stellar?
After not getting their ideals prevailing in Ripple, McCaleb founded Stellar in 2014 with the aim of creating a network of global, accessible and decentralized payments. According to the vision described by the team, unlike Ripple, which focuses mainly on collaborating with banks and large corporations, The platform focuses its focus on facilitating transactions between individuals and small businessesparticularly in areas with restricted access to financial services.
Jed McCaleb in a round of questions and answers in the blockchain Week NYC 2019. Source: screen capture – YouTube @StellardevelopmentFoundation during the first years of Stellar, McCaleb focused on developing A more efficient and less efficient consensus protocol: the Stellar consensus protocol (SCP). It was CEO of the company until 2017, when it decided to leave the position, but since then it has remained involved in the project as an active member of the Council.
What is the difference between Ripple and Stellar?
Ripple and Stellar are two cryptocurrency projects that, although they share some origins and principles, differ significantly in their approach and operation. Ripple is designed to improve payments infrastructure in financial institutions, operating mainly in the corporate field B2B (Business to Business), while Stellar has a more inclusive approach, seeking to facilitate the lives of individuals and small businesses with a decentralized solution and without Profit purposes. For more details, you can consult our cryptopedias about Ripple and Stellar.
What does Jed McCaleb think about decentralization?
In 2018, McCaleb said that cryptocurrencies need a decentralized network to prosper, since the use of centralized networks, such as traditional payment systems such as Swift or Paypal, would not contribute anything new to the ecosystem. According to McCaleb, the real vision of cryptoactive is to create a similar Internet network, in which anyone can participate without a central entity that can impose additional restrictions or charges. For him, this approach is key for the system to grow and become something ubiquitous.
For years, Jed has been a faithful believer that cryptocurrencies must remain decentralized to succeed. Source: screen capture – YouTube @loveforCrypto. McCaleb said that, in Ripple, most nodes are managed by Ripple Labs, which should be a reason for concern for users. In his opinion, a truly decentralized network must allow people to manage nodes without depending on a single entity.
What is Jed McCaleb's reputation in the cryptocurrency community?
It is estimated that Jed McCaleb's net assets are around 2.9 billion dollarsa figure that comes largely from its participation in XRP, according to Forbes data. Beyond its technical contributions, a part of the community recognizes McCaleb as a strong critic of the systems that depend on intermediaries. In fact, His departure from Ripple was motivated by his conviction that networks must be more democratican ideal that shapes its subsequent work in Stellar. In addition, its focus on accessibility has contributed significantly to popularizing cryptocurrencies as a tool to promote financial inclusion, thus promoting its global adoption. In 2011, Jed McCaleb sold Mt. Gox to Mark Karpeles, a French software developer. As we mentioned earlier, the life of Mt. Gox as Exchange was short, since he suffered a hack in 2014. Although McCaleb was no longer in command of the platform, his initial connection with the company did not go unnoticed by many in the community .
What happened to Mt. Gox?
Mt. Gox suffered a hacking in which approximately 850,000 bitcoins were lost, equivalent to about 450 million dollars at that time. This incident caused the collapse of the Exchange and caused a significant loss of confidence in the exchanges of centralized cryptocurrencies of the time.
Mt. Gox logo. Source: Wikipedia in this way, Many in the cryptoactive community wondered if Jed knew about the weaknesses of the platform before selling it. It should be noted that the transition from the company to Mark Karpeles was not exempt from problems, since some reports indicated that the Exchange presented technical and operational difficulties that the French had to assume. The truth is that, in June 2011, shortly after the acquisition, Mt. Gox suffered an important hacking that resulted in the loss of 25,000 BTC of 478 accounts. To learn more about Mark Karpeles, you can consult our cryptopedia. His passage through Ripple was not free of controversies either. When McCaleb left the company in 2014, His departure was marked by an agreement that allowed him to gradually sell his participation in XRP. What caught the attention of the community was the amount of XRP that it still owned at that time- more than 9 billion tokens- and the capacity to sell them, which generated concern about the possible impact on the price of cryptocurrency . According to the terms of the agreement with Ripple, during the first year McCaleb could not sell more than $ 10,000 in XRP per week, an amount that represented less than 1% of the volume of transactions at that time. In addition, during the first four weeks of the agreement, Jed had the option of selling up to 2.5 million dollars in XRP to a single buyer, whose profile should be previously approved by Ripple Labs.
How did restrictions on the sale of XRP from McCaleb evolve?
In the following years, the agreement conditions allowed McCaleb to gradually increase the amount of XRP it could sell. In the second, third and fourth year, the weekly limit rose to $ 20,000, while, for the fifth and sixth year, McCaleb had the possibility of selling up to 750 million XRP annually. In the seventh year, the limit amounted to 1,000 million XRP per year. However, in 2016 Ripple executives accused McCaleb of not complying with what was agreed, which led the company to review the conditions already request a new understanding. That same year, Monica Long, Senior Marketing Vice President of Ripple, announced that a new and satisfactory agreement for both parties had finally been reached.