Stellar’s Jed McCaleb on Digital Payment Competition

At this year’s Crypto Finance Conference, the co-founder of Stellar Development Foundation, Jed McCaleb shared his views on several interesting topics. McCaleb discussed Stellar’s partnership with IBM, the company’s negotiations with Facebook, and rivalry in the digital payment world. Without further ado, here’s what the founder of the first bitcoin exchange, Mt. Gox, had to say.

Commenting on Stellar’s collaboration with IBM, McCaleb explained that teaming up with Stellar was a logical step for the computing giant. IBM put a lot of emphasis on private blockchains, and the company needed to transfer their focus to public chains. With a focus on cross-border payments, Stellar was a perfect solution for IBM. “This is what Stellar gives you,” said McCaleb. “It gives you this way where you can have your permission group, but then still interact with everyone else in the world.”

Jed McCaleb also shared his opinion on the competition in the world of crypto payments. As McCaleb explained, there are a lot of payment companies that are finding their place in the crypto world. However, just because there are many companies of this kind, it doesn’t mean that they are direct competitors to Stellar. “The world of payments is super large,” said McCaleb. Because of that, the co-founder of Stellar doesn’t think any of these companies is competition for Stellar. “There’s space for many different players,” concluded McCaleb.

As there are rumors about Stellar’s discussions with Facebook, McCaleb also commented on that topic. While he didn’t make any confirmations, McCaleb said that Stellar is attractive to mobile chat applications that want to add payments to their functionality. He also said that the company would be open to collaborating with companies such as WeChat Pay or WhatsApp.

That’s all we’ve prepared for today’s edition of bitcoin betting news.

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