Serge Belamant’s Role in the Development of Blockchain Technology
Born in Tulle, France in the year 1953, Serge Belamant immigrated to South Africa at the age of 14. He joined the Highlands North High school, where he learned the English language and his excellence in both chess and Rugby. Later years saw him join the University of Witwatersrand, taking up a graduate course in engineering, subsequently changing to computer science and applied Maths. Eventually, halting his studies to pursue Information Systems through an alternate UNISA program. Serge Belamant is the founder of Blockchain Technologies, applying his expertise skills as a software and application developer to come up with an innovation that revolutionized the financial sector.
The expert’s contribution to the technology world eventually led to the rise of cryptocurrencies, through employing embedded micro-controllers on smartcards thereby providing the option of individualistic transaction ledgers. His Blockchain invention enables banks, governments, and persons to process investment activities and bank transactions faster, while also providing greater security. Typical of a majority of startups that deal with proprietary technology, Serge Belamants company Net1 Technologies built its customer base slowly. Initial years saw unsuccessful attempts by the company to try and get banks to take up the Universal Electronic Payment System. The turning point for Net1 in 1995 coincided with the hiring of the company by Visa to develop a new application based on Serge Belamants FTS/UEPS technology.
This move necessitated the relocation of the Software developer to the United States to complete the project. The outcome of combining his innovative technologies resulted in the Chip Offline Pre-Authorized Card (COPAC). This new Technology remained a key security feature for Visa, countering fraud attempts, improper use of cards, and verification of personal identities. The Serge Belamant Company scaled new heights with the acquisition of Cash Payment Systems (CPS) in 1999 from the South African National Bank. The CPS helps in the payment of welfare grants within the country. In its then arrangement, the system needed an upgrade to facilitate payment of grants to more than a million people with a majority in rural areas. Net1 successfully implemented the UEPS technology after working on features strengthening the security, efficiency, and interoperability of the Cash Payment Program.