Category Archives: Financial Leader

Jed McCaleb starts Stellar Development Foundation for Digital Financial Literacy

GC Report recently published the article titled “The Road to Building Stellar with Jed McCaleb on Block Zero”. The article discusses how the new technology of the blockchain project, Stellar.

Stellar’s co-founder, Jed McCaleb, first discovered Bitcoin via an article on the popular technology website, Slashdot. He was immediately enchanted by the idea, thinking it would be interesting if there was a currency that was not controlled centrally. One of the first things he created himself was Mt. Gox, a centralized website to trade Bitcoin. At one point, it even accounted for the majority of cryptocurrency trading. McCaleb sold the software nearly a year later, in 2011, to a software developer. After it was sold, it experienced a hack in 2014 that was fairly significant.

However, at the time, McCaleb was busy trying to solve one of the issues within Bitcoin. Though it was gaining in popular awareness and acceptance, many noticed an issue within the currency’s foundation. The process of mining the currency bothered McCaleb particularly. He felt there was an issue of efficiency and created a company to try to solve the issue.

In 2014, McCaleb began the Stellar Development Foundation. The company was created as a protocol for payments of the cryptocurrency. He sought to create a connection between all of the different payment networks and financial institutions so that the currency could function in a similar way to email. He felt that the connections needed to occur beyond just the big banks and that they needed to extend to a variety of financial institutions.

As mentioned in Global Coin Report, Stellar began as a nonprofit, sourced for the people. McCaleb wanted to create trust between the organization and people so they would understand it wouldn’t change the business plans. One of the intriguing aspects of the company is that it uses the Byzantine agreement. It is a consensus model created by a professor at Stanford which enables each network to select others that they trust. This creates a web of consensus structures. It also moved away from private chains.

Jed McCaleb has been the founder of a variety of companies like Code Collective and Stellar Development Foundation. He is currently the advisor at the Machine Intelligence Research Institute. Contact Jed McCaleb on LinkedIn today.


Brazil’s Ministry Of The Environment Published An Invitation To Private Companies According To Infrastructure Expert, Filipe Montoro Jens

Brazil is trying to get rid of government-owned businesses, according to financial and infrastructure expert Filipe Montoro Jens. In April 2017, President Temer and the Ministry of the Environment put out bids to privatize deforestation projects. Those projects, along with more than 1,500 other economic privatization projects, will help the country shake-off the two-and-a-half-year-old recession, according to President Michel Temer.

The Ministry of the Environment invitation was only an eight-day invitation, according to Filipe Montoro Jens. The Cerrado region in the Amazon has the highest deforestation rate in Brazil. Temer wants to stop the assault on the land that indigenous tribes call home. The company that wins the bid will also play a role in reducing carbon emissions. Brazil is part of the Paris Climate Accord. Temer wants to keep that 2015 commitment, according to Mr. Felipe Montoro Jens.

Filipe Montoro Jens has an impressive resume. He is the Director of Santo Antonio Energia, and the CEO of Energizer Captacao S.A. as well as the former Chairman of the Board of Concessionaria do Centro Administrativo do Distrito Federal. Jens is a prominent figure on the speaking circuit. His speech at the World Economic Forum gave him international exposure. Mr. Jens has a postgraduate degree in international management. His business administration undergraduate degree from Fundao Getito Vargas (FGV) gave him the tools to address some of the economic challenges facing Brazilian businesses.

One of Jens current projects is to make sure the National Privatization Program continues to attract foreign investors. President Temer wants to privatize the energy, sanitation, infrastructure and technology sectors of the economy. Jens is playing a role in that endeavor.

President Temer is doing his part in the privatization program. He went to China at the beginning of September to sign bilateral agreements that will impact infrastructure, health, technology, and cultural projects, according to Mr. Jens.