Serge Belamant is the mind behind blockchain technology. Although he is not as well-known as cryptocurrencies such as Bitcoin and Ethereum or as technology moguls like Mark Zuckerberg or Jeff Bezos, with time, the world will know about his contributions which are as significant as that of the Facebook and Amazon founders. Serge Belamant holds the patents of blockchain technologies since he played a key role in their development using smart cards.
The blockchain technologies that Serge Belamant developed and patented include Verification of a Transactor’s Identity, Designation of Electronic Financial Transactions, Secure Financial Transactions and the Financial Transactions with a Varying Pin. Serge Belamant journey to these achievements is unique. Although born in France, he grew up in South Africa and after high school, he enrolled for an Engineering degree at Witwatersrand University. He switched to Computer Science and Applied Mathematics in his second year in the University. In the third year, he left for the University of South Africa to pursue information systems courses. Just as Mark Zuckerberg and Bill Gate, Serge did not finish college too.
It was not easy for Serge to get a breakthrough in the market of technology. When he was starting, he could not even get the banks interested in the Universal Electronic Payment System (UEPS) he had developed. It was until 1995 when his company Net1 Technologies was contracted by Visa to develop a unique application with UEPS technology. This is when he created the Chip Offline Pre-authorized Card, a feature that is still being used by Visa to prevent card fraud. In 1999 he sold his other technology Cash Payment Services to National Bank of South Africa that they used to pay grants to one million people.
Before starting his company, he worked for various companies among them Matric Engineering, Inc where he developed software to analyze the dams’ water levels. He then joined the Council for Scientific and Industrial Research where he achieved various breakthroughs in digital mapping, statistical methods, and creating graphical interfaces. He developed his first financial system at DATABANK. Serge Belamant also worked for The Bancorp as a consultant in risk management and analysis. He also worked at SASWITCH where he invented the National ATM switch.
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