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Stellar Development FoundationStellar Development Foundation
Stellar is an open-source protocol for exchanging money using blockchain technology. The Stellar network can quickly exchange government-based currencies with 2 to 5 second processing times.
Nonprofit organisations and businesses are implementing Stellar as their financial infrastructure, particularly in the developing world including partnerships in the Philippines, India and West Africa.
Its board members and advisory board members include: Keith Rabois, Patrick Collison, Matt Mullenweg, Greg Stein, Joi Ito, Sam Altman and Naval Ravikant.
In October 2017, Stellar partnered with IBM and KlickEx to facilitate cross-border transactions in the South Pacific region. The cross-border payment system developed by IBM includes partnerships with many large banks and one of the “Big Four” accountancy firms, Deloitte.
In 2018, Stellar announced their affiliation with Keybase to eliminate the need of extended cryptographic addresses for international transactions.
In March 2018, the DigitalBits Project announced that they had forked the Stellar software to support the loyalty and rewards market as their initial use case.
In September 2018, IBM launch their Payments Platform ‘World Wire’ powered by the Stellar protocol.
JED McCALEB – Co-founder
Jed McCaleb is a co-founder of Stellar Development Foundation. Previously, he created eDonkey2000 which became one of the largest file-sharing networks in its time. He later created Mt. Gox, the first bitcoin exchange, which was subsequently sold and re-coded by its current owners, followed by Ripple.
The Stellar Development Foundation is a nonprofit that supports the Stellar protocol.
The Stellar Development Foundation is a nonprofit organisation based in San Francisco, building a common financial platform, designed to be open and accessible to everyone. Just as the internet allowed anyone to send an email or create a blog, Stellar now allows people to easily send, save, and receive money, without large fees or hassle.
The platform’s source code is hosted on Github. It is a distributed ledger maintained by a consensus algorithm, which allows for decentralised control, flexible trust, low latency, and asymptotic security.