Tuesday, December 6, 2022
HomeTechnologyRipple co-founder Jed McCaleb expands his portfolio to add new space station

Ripple co-founder Jed McCaleb expands his portfolio to add new space station

In order to break new ground in the field of space exploration, the chief technology officer and co-founder of Ripple is currently putting together a crew consisting of industry professionals and engineers. Jed McCaleb, a pioneer in the blockchain technology industry, is turning part of his focus to a new frontier, space.

Vast is a new enterprise that was launched on Tuesday by a notable crypto millionaire. The goal of Vast is to increase “human habitation in space” and to “enable a future when millions of people are living throughout the solar system.”

McCaleb is said to have been the founder of the space habitation startup in 2021, and according to a statement released by the company, the company will be tasked with developing the world’s first artificial-gravity space station. This will, in essence, make it possible for humans to live and work in space.

The beginning of McCaleb’s lengthy history of being at the forefront of technological advancement occurred in the year 2000, when he established eDonkey2000, which was at the time one of the most extensive file-sharing networks available. In 2007, he created another firm that produced a video game called The Far Wilds.

Following his resignation from Ripple, McCaleb established the Stellar Development Foundation in the year 2014. McCaleb is reported to have stated that he aims to utilise his skills to provide people access to the “huge quantity of resources” that are contained inside our solar system.

Co-founder emphasis on adding team of engineers 

McCaleb asserts that he is in the process of putting together a “world-class team” of engineers with the assistance of various seasoned industry specialists in order to develop technology that has hitherto been limited to the realm of science fiction.

The National Aeronautics and Space Administration (NASA) has outlined its intention to deorbit and decommission the International Space Station (ISS) by the year 2031, which may signal an opportunity for private companies to step in and supply replacement facilities.

It is unknown where the cash for the space station project that is being provided by Vast is coming from; nevertheless, Forbes estimates that McCaleb’s net worth will be at least 2.5 billion dollars by the year 2022.

Other sources, on the other hand, claim that it is significantly higher than that because of the billions of XRP tokens that he received as a founding member of Ripple Labs in 2012. He had been methodically selling off these tokens over the course of eight years until, on July 18, his stash ran empty.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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