Jed McCaleb founded Stellar Development Foundation along side business partner Joyce Kim in 2014. Stellar was not Jed’s only discovery. Jed McCaleb has also been involved with the creation of several other companies. He created eDonkey2000 and Mt Gox: two innovators in their respective industries.
Stellar is one of his newest business ventures. The company was created in 2014 along-side his business partner Joyce Kim. The duo recognized that the financial market was extremely unfair and are doing everything in their power to correct it. Stellar Development Foundation was founded with the intention of bringing services to low income people: services that are previously reserved for the rich.
Financial advice and investment is expensive, even before you can see a return on your investment the dozens of fees and charges can run your pockets dry. Stellar attempts to link several industries together in a seamless way that eliminates many of these costly fees that are associated with these types of industries.
Stellar links these institutions together by use of cryptocurrencies. The company behaves as a middle man, where it is able to handle tasks that previously would cost a fortune in fees for next to nothing.
Jed McCaleb’s Other Ventures
McCaleb’s former business, Mt. Gox, which was originally intended to be an exchange network for players of an online trading card game, went on to become the first Bitcoin exchange in existence. The company was eventually sold to a Japanese company before going out of business.
eDonkey was the first peer to peer file sharing program to utilize multi-source downloading. The company was founded in 2000 by Jed McCaleb and his partner Sam Yagan. The company lead the way with technology that is now considered standard with all peer to peer file sharing platforms. Modern day torrenting and file sharing follows the model provided by eDonkey.
Overnet was a peer to peer network that expanded on McCaleb’s experiences with eDonkey. At its most active, the network boasted around half a million concurrent users.