Serge Belamant: Developing a Highly Secured Way to Transact with Debit Cards

Serge Belamant is an American tech entrepreneur who is popularly known as the founder of Net1. He has been in the business since the 1980s, and through his business ingenuity, he was able to create a system which allowed debit card users to integrate the blockchain technology which would allow for a more secured transaction with lower chances of having their accounts hacked. Serge Belamant stated that the need to create a system that uses the blockchain technology came up after he noticed that fraudulent transactions continue to rise. He wanted to help those who legitimately own a financial account but has fallen victims to criminals who are falsifying the information that they are using.

In the past, many people experienced financial issues with their banks and credit card providers, as the method for skimming the cards have become more advanced. To counter these fraudsters, Serge Belamant worked hard during the 1980s to create a highly secured system that would ensure the safety of bank accounts and will automatically prevent theft and other crimes related to stealing someone else’s money. The full technology was unveiled in 1989, and it became a huge hit in the market. However, the product stopped selling after its creator decided to put additional improvements of his creative technology .

Decades later, according to Serge Belamant released an advanced version of the application that he created for bank owners, and stated that it would have an advanced blockchain technology that would prevent fraud. Experts agree that his creation would help global financial security, especially in this day and age that even the banks are entrusting the money to an advanced computer system. However, the hackers are also becoming more advanced, and they will do everything to hack into these systems and steal whatever they can find. Serge Belamant is hoping that his creation will help curb these situations from happening. He is positive that the debit card using blockchain technology will be the norm in the future. He stated that the technology similar to what he created would provide a drastic change in the field of corporate and business security which could contribute greatly to the economy.