Jed McCaleb is an American entrepreneur and programmer born in 1975. He is a software developer currently located in San Francisco, America. He has ventured into many businesses including the stellar organization whereby he is the co-founder and the Chief Technology Officer of the company. Stellar is a non-profitable organization which was founded in 2014 in conjunction with Joyce Kim to allow cross-border money transaction.
The Stellar Company debuted in late July 2014 resulting in the loan given to Jed McCaleb of three million from the Stripe technology company. The initial management and repay of expenses depended on previous investments of Jed. The stellar company at first adopted the Stellar Consensus Protocol where it was initially directed to be of service and to improve transactions both locally and internationally.
As a leader with a different perspective, Jed McCaleb believes in consciously leveraging to improve the status of human conditions. The major concepts majorly used are that of consensus, trust and credit. This means that the Stellar Company works with the principle of integration where the desire is to have many participants in the network as possible. This aids the transactions to flow still even when some servers fail to function.
For effectiveness to be ensured, Jed McCaleb created the integration process. It involves the technical team writing database tables, the writing of the codes to listen to Stellar ledgers the money transaction and finally testing the integration to affirm it has worked. This process ensures the credibility of the company hence maintaining the trustworthy level of the people. The decentralized method makes the company people-based.
The stellar company is free to use for start-up making it easily accessible to many. To ensure equality, all software needed or necessary for transactions are registered under one license. License version 2.0 which permits sales and even distribution. The start-up depends on size to be made and the developer team. Therefore, the more skilled developers and less technical the integration process, the faster the start-up time.
Jed McCaleb formulated a business model that operates as a non-stock non-profit organization to impact the lives of people positively. The main agenda of Stellar company and networks is to make people realize their full potentials and in the long run fight poverty.