Chris Holden

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Serge Belamant Laid Foundation for Cryptocurrency

by Chris Holden - July 30th, 2019.
Filed under: Bitcoin, Business Tips. Tagged as: .

Crytocurrency that includes Bitcoin (BTC) and Ethereum (ETH) didn’t just happen. Like so many technologies, they were the result of decades of research and a number of new patents. Entrepreneur and businessman Dr. Serge Belamant was one of those laying the foundation that so many are using today in international digital transactions. Born in France and spending his youth in South Africa, Serge Belamant understood from his father that hard work was required for success. He became a software and applications developer and used his father’s hard-work philosophy to create patented inventions, businesses and organizations. He established Net1 UEPS (Universal Electronic Payment Systems) Technologies and became a consultant with the company in 2017.

Serge Belamant is also a co-founder of the company Zilch Technologies. Serge Belamant’s name is synonymous with blockchain technology, the underlying system that allows cryptocurrency to work. In layman’s terms, it is this technology that makes governments and banks process transactions. It was created to improve security, transparency and accuracy in the financial sector. In these markets, the primary need is to verify the identity of those conducting transactions. Older systems suffered under human error and were slow. Serge Belamant created a verification system that did this and which also added another more security by allowing an independent entity to do the verification.

Serge Belamant’s inventions made global transactions, once a challenging prospect, easier. With the global financial industry totaling more than $100 trillion annually in business, new technology is vitally important. Another of Serge Belamant’s contributions are the establishment of organizations that gave billions of people outside access to traditional banking an alternative to online buying. Now, they had purchasing power with online retailers, other people and institutions. However, the most recognizable contribution Serge Belamant has made is in his “smart card” invention. He moved to the United States after Visa hired his company in 1995 to invent a new application that dramatically improved security. The Chip Offline Pre-authorized Card (COPAC) was invented and it remains a key element to stop misuse of credit, verification of personal identification numbers and eliminated fraud.

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