Inventor Serge Belamant – Banking On The Blockchain Debit Card

Serge Belamant was born in France. At the age of 14 years, he and the family moved to South Africa. The respected inventor enrolled at the Witwatersrand University to pursue an engineering course. In his second year, Serge Belamant decided to transfer to computer and applied mathematics. Serge discontinued his studies and in his third year, he took courses in information systems via UNISA. Despite that, he never completed his bachelor’s degree, as he would have had to retake subjects he had already passed.

Inventor Serge Belamant is popular for creating the first incarnation of blockchain technology back in 1989. He also holds the patent for that technology. His outstanding achievements did not come that easily. Serge Belamant determination, efficiency, and hard work made his success. Serge has worked with several firms before starting his own, which he named Net 1.

U.E.P.S (Net1 Technologies) applied blockchaining on smart cards hence producing a card that can double up as a debit card and so much more. This smart card is Europay MasterCard Visa compatible and it has the purpose of a debit card whenever EMV cards are accepted. These smart cards use distributed ledgers that work while online and offline as it does not require communication with a centralized computer. Serge Belamant did what no one else has ever done. Blockchain is definitely going to revolutionize the modern banking.

UEPS smart cards help to validate, encrypted, authorize all transactions to take place, decrypted, and create an audit record without a centralized computer. Serge’s blockchain card works as an entire bank account with no bank infrastructure cost as it does not need electricity connection source and a centralized POS, Point of Sale Device.

If you are using a smart card offline POS device, then you require just a battery. Once you are done with the multiple offline transactions, all the information will be stored on the smart card.

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