How Serge Belamant Invented Blockchain

Long before the rise of Steve Jobs, Mark Zuckerberg and some other technological kingpins, there was Serge Belamant who may be one of the most influential technology developers that people have never heard of. The reason that many people may not have heard of Mr. Belamant is because the majority of his inventions and advancements have been in the financial sector, which has often been somewhat under-appreciative when it comes to new technologies. There’s also the fact that many people just don’t know who invented many of the technologies that hold the financial sector together. However, it seems as though Serge Belamant may now be getting the recognition he deserves; he’s now being openly credited with the development of the original blockchain technology.

Now his creative technologies and innovations are the backbone of every cryptocurrency on the planet; many people have also suggested that it’s Serge Belamant’s inventions and innovations that underpin the entire financial industry. Mr. Belamant’s career really took off in 1995, not long after he had set up his Net1 Technologies. At the time, Mr. Belamant was trying to sell his Universal Electronic Payment System (UEPS) to little avail. The program was essentially the end application of the Funds Transfer System (FTS) that he had also invented. However, he wasn’t getting much success with trying to sell either technology. This changed in 1995 when Net1 Technologies and Serge Belamant were approached by Visa; they wanted him to create a new application based on his technologies.

The final product was called the Chip Offline Pre-authorized Card (COPAC) which ended up being a massive success and is still used to this day, although with minor improvements. Spurred on by this achievement, Serge Belamant focused his outstanding efforts on blending his two proprietary technologies to create a host of different applications and programs. After finishing the COPAC project for Visa, he returned home to South Africa where he got another big break from the South African government: developing a payment system more than 1 million South Africans. The technologies and advancements he made there have disrupted and improved financial payment systems across the technology world, and Mr. Belamant shows no signs of slowing down anytime soon.