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How Serge Belamant laid a stable foundation for cryptocurrency

Every industry has its legends. For instance, in baseball, individuals such as Babe Ruth and DiMaggio are considered the founding fathers of the sport. Similarly, the world of crypto also has those names which are credited to its success, and in this case, Satoshi Nakamoto is considered the founding father. Nevertheless, it is vital to note that while there is no denying that Satoshi’s invention has significantly impacted the world by creating bitcoin, the world of crypto would have remained an elusive dream were it not for an individual named Serge Belamant.

Even though Serge Belamant is not the first name that comes in mind whenever there is mention of crypto, he helped lay the foundation for this technology by creating the blockchain technology and even holds a patent for it. Belamant was integral in the creation of blockchain technology as he was the first person to create a smart card with a microprocessor that could work both online and offline. It is, however, vital to note that his contributions to the world of finance go beyond bitcoin.

Before coming up with blockchain, Serge Belamant first made it possible for banking facilities to verify the identity of anyone carrying out a transaction by assigning each user and identity and account. Were it not for his verification system, the millions of transactions that take place each second would not be possible.

The process of blockchain creation

Getting blockchain out, there was no mean feat for Serge Belamant. He spent years trying to convince companies in the banking industry to utilize his EUPS with no success. Despite multiple rejections, he kept on trying to sell his technology.

His efforts finally paid off after Visa hired his company, Net1 Technologies, to create a debit card for using UEPS technology. He was still in South Africa when he got this big break but moved to the US, where he could easily access all the resources needed for the perfect completion of the project. What started as a simple project gave rise to COPAC, an offline preauthorized card.

This also marked the beginning of Serge Belamant’s success, and since then he has never looked back. Even though he is an underdog, his role in the development of bitcoin cannot be underestimated.

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