The world of cryptocurrencies or digital currencies have been in the minds of researchers for a long time but is only recently did that become a reality. In 2009, the first digital currency was invented. Bitcoin became a sensational to many innovators although it remained unknown to many people for a couple of years later. Only recently did people come to learn about it after the cryptocurrency after prices soared.
Digital Currencies have faced challenges since they were introduced a decade ago. Just like any other industry, this one also faced teething problems. Since it is still a young industry, these challenges are still being witnessed, but the good thing is that there is a team of innovators who want to see the industry grow. According to cointelegraph.com, the biggest problem facing the industry is that it has been taken over by financial cartels who only see quick money in the whole thing. They do not look at the bigger picture which is creating a payment system that will work just like any other fiat currency. The loss of direction from the initial objective is what is ailing the industry right now. Today, you find tens of ICOs which have been created some genuine but many fakes.
One person who has been in this industry and has been leading in keeping it on track to achieving the main goals of the industry is Jed McCaleb. He joined the industry immediately Bitcoin was introduced. Since then, he has taken a number of steps which have contributed significantly to the development of the industry.
Jed McCaleb is currently the co-founder of Stellar. Before establishing this company, he worked with various technological companies. It is while working in these companies that he realized that the financial system is broken and it does not work to benefit the poor person in the third world country. The current financial system is all about benefiting the wealthy. As such, he decided to create Stellar which will be the vehicle he will use to make the necessary change in the industry. McCaleb has also been behind the development of eDonkey and Code Collective, all platforms that are meant to make the cryptocurrency industry fairer.