Serge Belamant is not a well-known or household name, but he is the reason behind many other household names. Belamant’s patents and inventions led to the invention of cryptocurrencies, such as bitcoin. Thu, while Serge Belamant is not a household name, his contributions to computer science are.
Blockchain is an incredibly useful piece of innovation. It acts as a list of records, or a ledger, of transactions. These records are dated and timestamped and drastically increase the safety of nearly all types of electronic payment methods. Many types of transactional systems are still unsafe and inefficient, but rapidly growing blockchain technology is likely to revolutionise these systems. Blockchain will also make complex management and payment systems less complex, as more of the process will be automated.
Serge Belamant is from France originally, but was raised in South Africa. He was incredibly successful in both academics and sports during his formative years. His university marks were also stellar, but he dropped out of school before finishing his degree. Despite this, he was immediately employed due to his evident talent in computer science. Serge Belamant worked at several different technology companies, but his blockchain breakthrough did not occur until 1995. He was working at Net1, his own company, while trying to create a more efficient method of online payment.
Visa, the credit card company, had commissioned Belamant’s company to create a new payment system, which was eventually called COPAC, or Chip Offline Pre-authorized Card. This security feature allowed for safer payments on cards and Visa still uses it as a security measure over 20 years later. These inventions created an electronic record of every card usage that made card theft and usage much more difficult. Several other companies adopted this system after Visa’s success with it.
After years of career success, Serge Belamant is working at Zilch Technologies, a company that he created with his son. Zilch Technologies is primarily focused on computer science and its applications for the banking industry. Regardless of his current activities, blockchain and cryptocurrency would likely not exist if it were not for the many contributions of Belamant.
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