|Intro||Computer Scientist and Entrepreneur|
|Known for||Founding patent holder of blockchain technologies.|
|Is|| Entrepreneur |
|From|| United Kingdom |
|Residence||London, United Kingdom|
Serge Belamant is a pioneer of blockchain technology, the underlying platform used to host countless cryptocurrencies. From the richest institutions to the poorest individuals, his inventions provide everyone with the tools they need to make fast and efficient withdrawals and deposits. His story is one of constant momentum and forward-thinking.
Belamant was born in France and went to school in South Africa. There, he excelled in everything from science to rugby. In his early 20s, he began working with element analysis software and Cyber computers for a civil engineering company. He helped develop models for a variety of public projects, including dams and roads. It didn’t take Belamant long before creating one of the first public-key cryptosystems.
Striking Out on His Own
After achieving a variety of impressive milestones in his career, Belamant created Net1 Products PTY LTD in 1989. His company was built upon the Funds Transfer System (FTS), a technology that Belamant both developed and patented. While the first few years were slow, Belamant eventually started to see success after success.
In 1995, he successfully landed a partnership with VISA to develop the Chip Offline Pre-authorized Card (COPAC). In1999 he purchased Cash Payment Services from the First National Bank of Africa. By 2005, Belamant managed to get his company listed on the NASDAQ stock market where he was listed as Chairman and CEO of Net1 Technologies. In 2012, he was awarded a contract from the South African government to pay all social grants from his revolutionary blockchain system.
A Lasting Legacy
Net1 went through a number of name changes throughout the years, but each iteration had the same people and the same technology at its core. When Belamant retired in 2017, his legacy was forged by helping people get paid what they needed, when they needed it.
Above all, he preserved people’s dignity. Before 2005, welfare grants were managed by provincial departments. Before Belamant, there was no infrastructure to facilitate these payments, and the system was disorganized and inefficient.
With one department for each province, Net1 Technologies went on to make payments in KwaZulu Natal, Eastern Cape, Northern Cape, Limpopo and North West. Together, it was more than 10,000 payments per month. It made it difficult for people to get the money they needed to take care of themselves and their families. As blockchain technology continues to develop, millions of people will have Belamant to thank for these seamless transactions.