Serge Belamant And BlockChain Technology

Serge Belamant is the man responsible for a number of modern financial and banking innovations. In particular, Belamant is credited as the inventor of blockchain banking systems and blockchain debit cards.

Belamant was born in Tulle, France, and lived there until he was 14 years-old. At that time his father moved the family to Johannesburg, South Africa. A young Belamant remained in South Africa throughout college, studying at the Witwatersrand University in Johannesburg and focusing his attention on Computer Science. He eventually went on to help develop financial and banking software that helped banks adapt to the sweeping changes brought about by digital technology. After several key successes behind the scenes Belamant was able to gather enough capital and enough clout to start his own company. Net1 UEPS Technologies, Inc was founded in 1989 and named after one of Belamant’s career making innovations, the Universal Electronic Payment System or UEPS for short.

UEPS eventually teamed up with Visa to develop the chip-based debit cards that are now so prevalent in our daily lives. The Offline Pre-Authorized Card, or COPAC, first premiered in 1995 and proved to be enormously successful. Only three years later the company Serge Belamant created worked with the South African government to help institute a debit system that would ensure welfare checks and other payments were sent to the correct accounts safely and efficiently. This system was so well-received that UEPS was sought out and contracted by other countries to create a similar system. Net1 now uses it’s innovative technologies to provide reliable money transfer services to entire economies. Serge Belamant, however, has not been satisfied with these success and continues to develop new methods to help banks and financial institution incorporate modern technologies.

Blockchain is an interactive, decentralized ledger designed to keep track of online transactions between different computers. The name refers simply to a chain of blocks, all interlocked and building on one another so that one block cannot be altered or disrupted without clearly affecting the rest of the chain. The main concept Serge Belamant envisioned with this design was a way for banks to interact with digital currencies like bitcoin with minimal risk of fraud or theft.

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