The world is a place where people are constantly buying and selling in new ways. In the past this has been done with credits, international currencies, and is now being done with cryptocurrency. Cryptocurrency is an internet based currency that is secured by cryptography to make sure that all transactions are protected. This type of currency is still relatively new, but that does not stop it from creating trailblazers in the trade. One of those pushing for bigger and more widespread understanding of this kind of currency is Jed McCaleb.
Mr. McCaleb is most familiar with the Bitcoin and its earlier days. He is the co-founder of the Stellar Development Foundation, and dedicates most of his professional life to helping people understand the changing financial world. He recently sat down for an interview with CNBC to make some predictions and observations about the changing financial world. Unlike Bitcoin, McCaleb thinks that the future of cryptocurrency is international and government backed. He believes that people will be able to buy, sell, and trade in cryptocurrency that resembles the monetary unit they are most used to.
Cryptocurrency makes it easy to buy and sell across countries because it focuses on currency trading. It takes a fraction of the time to use that normal digitized currency does, and is becoming rapidly available. McCaleb predicts that this kind of simplicity will lead to a digital stock market that allows almost anyone to buy and trade stocks internationally. Many stock market investing companies in the United States are already allowing their patrons to purchase stocks with Bitcoin.
One of Mr. McCaleb’s biggest concerns with digital currency is the security of it. Early 2018 saw a brief fall of cryptocurrency (including Bitcoin) because of this, and is still currently down while the market rebuilds its security infrastructure. Jed McCaleb still firmly believes that the digital currency in the international online marketing world is the future, despite the current struggles. He continues to work diligently at Stellar to educate the masses on using digital currency, and is experimenting with his own type of cryptocurrency known as ‘lumens.’