Serge Belamant has taken initiatives to patent most of his inventions. The inventor of the first incarnation of blockchain technologies has many inventions behind his name for which he has sought patent approvals. Some of the patents have been successful while others are awaiting approvals.
The blockchain technology started way back in the 1980s as a kind of internet. During its early stages, the technology didn’t receive much recognition until it started powering cryptocurrencies. When cryptocurrencies started growing, Mr. Serge Belamant grasped the opportunity and founded Net1 Technologies. Net1 Technologies was the creator of the very first blockchain debit card. Serge Belamant is also the founder of another tech company, Zilch Technology Limited.
Currently, the blockchain debit card UEPS is used by over 3 million people and still the number is increasing tremendously. The creation of this technology reduced banking costs thus gaining popularity among its users. The blockchain technology is patented by Serge Belamant.
The blockchain debit card is embedded with the blockchain technology that is compatible with EMV technology. The blockchain debit cards are acceptable wherever EMV smart cards are used. Belamant’s Net1 Technologies is the first company to develop smart cards capable of using distributed ledgers which can work offline and without relying on a central computer system.
The beauty of UEPS is their ability to work both online and offline. If one makes offline debit card transactions, the transactions are basically stored in the card. These transactions are the later updated to the central system when the card transacts with POS device or a centralized ATM. Later on, Net1 Technologies will confirm all these transactions and store it in its central database in the mainframe computer.
Other inventions for which Serge has sought patents for is the Financial Transactions with Varying Pin technology, Verification of a Transactor’s Identity and the Designation of Electronic Financial Transactions.
The Financial Transactions with Varying Pin creates pins for all transactions conducted via ATMS. It also generates points of sale for precise identification of biometric information. On the other hand, Verification of a Transactor’s Identity is a system that manages financial dealings between the transactor and the Transactee. The system essentially verifies the financial accounts and the organizations for the transactor through an identifier input property.
About Serge Belamant
Serge came to be in 1953 in Tulle, France. At the age of 14 years, his parents migrated to the South Africa. He went to Highlands North High School. After high school, Serge joined Witwatersrand University pursuing Engineering. However, he later changed his course to study Computer Science which he didn’t complete either? He dropped out of school and was employed by one engineering firm, Matrix.
Mr. Serge later worked in different firms to gain the requisite experience in information systems. He later moved to Washington D.C where he enrolled for linear and non-linear programming. Through his skills, he helped the military in operating the COBRA system. There were many sanctions against the military which forced Mr. Belamant to switch to SASWITCH, becoming its head of IT division.