Why Jeb McCaleb Is Focused on The Banking And AI Industries

Jeb McCaleb is an executive in the technology sector. He has been in this industry for 18 years and presently serves as the CTO of a nonprofit he co-founded along with a business partner. The company is called Stellar Development Foundation and it is headquartered in San Francisco, California. The goal of this company is to bring economic participation to those in the world who are unable to do something as simple as open a bank account.

The big problem with the banking industry, Jeb McCaleb says, is that it costs financial institutions too much money to provide their services to those who are low-income. His solution is to use open-source software to build a universal financial network that can be accessed by anyone no matter what their means are. He got the idea for this from the technology that underlies the cryptocurrency Bitcoin. He’s using this digital currency’s underlying idea and his platform ties together different financial institutions in a way that low-income people will be able to exchange money with others cheaply and seamlessly.

Another interest of Jeb McCaleb is on artificial intelligence. He is both a donor and advisor to another nonprofit called the Machine Intelligence Research Institute (MIRI). He says that the field of artificial intelligence is both really interesting but also really frightening. Research into artificial intelligence is making rapid strides and he says that within the next two decades it will solve a host of problems and make people’s lives more convenient in many ways.

On the flip side of AI, Jeb McCaleb says that the rise of AI is the biggest advance in technology since the agricultural revolution.It’s going to be hugely disruptive and will eliminate many different types of work. Also, if developers don’t handle it right it can also be extremely dangerous. That’s why he supports MIRI’s mission which is to create formal tools for AI developers to follow. These formal tools will prevent these smarter than a human AI’s from taking over, he says, and protect the future of humanity.