The chief technology officer and co-founder of Stellar is now assembling a group of professionals and engineers to open up a new area of space exploration.
Jed McCaleb, a pioneer in blockchain technology, is refocusing some of his attention on a new area: space.
On Tuesday, the well-known cryptocurrency billionaire made the official announcement of the beginning of his new business, Vast, which aims to increase “human habitation in space” and “enable a future where millions of people are living across the solar system.”
The space habitation startup, which McCaleb founded in 2021, will be responsible for building the first artificial-gravity space station, essentially enabling people to live and work in space.
Pioneering the world’s first #artificialgravity space station, #Vast is excited to announce our mission to expand in-space capabilities by enabling scalable solutions for humans to live and work in space. https://t.co/Kn9kjFqaDu
— Vast (@vast) September 12, 2022
When McCaleb founded eDonkey2000, one of the biggest file-sharing networks of the time, he marked the beginning of a lengthy career at the forefront of technology. He established a new business in 2007 that produced the videogame The Far Wilds.
He founded the popular trading card website Magic: The Gathering Online Exchange, which was later transformed into the Mt. Gox Bitcoin exchange in 2011. He co-founded Ripple Labs as well, although he departed the business in June 2013.
In 2014, McCaleb established the Stellar Development Foundation after quitting Ripple.
In order to help humanity access the “huge number of riches” in our solar system, McCaleb claims he intends to apply his knowledge as follows:
“I have always believed in leveraging technology to reduce inefficiency and improve the human condition. To expand human habitation in space, we have to create technologies that perfect sustainability.”
McCaleb claims that in order to develop technology that has only previously been seen in science fiction, he is putting together a “world-class team” of engineers with the assistance of numerous seasoned business professionals.
Artificial gravity is a real concept. All that is needed is a sizable rotating structure. The ensuing centrifugal force creates a pull similar to gravity.
The International Space Station (ISS) will be decommissioned and deorbited by NASA in 2031, which could open the door for private companies to step in and offer replacement facilities.
Although the source of Vast’s money for the space station project is unknown, as of 2022, McCaleb’s net worth was estimated by Forbes to be at least 2.5 billion dollars.
As a founder member of Ripple Labs in 2012, he earned billions of XRP coins, which he had been gradually selling off over the period of eight years until July 18, when his supply ran out, according to other sources, it is actually considerably greater.