Serge Belamant is the genius whose work was built upon to develop blockchain technology. Although Belamant’s name is not actively on people’s minds as often as Jeff Bezos or Mark Zuckerberg’s names, his work has had similar impact in the world of finance.
Blockchain technology operates as a series of records that are intertwined and encrypted. Each blockchain contain unique pockets of data such as time stamps and transaction information, crucial to any matters related to money. Serge Belamant’s original technology was intended for use in the financial industry as a means to increase the transparency of large banking institution, as it is far more accurate and secure than financial transactions done by hand.
Serge Belamant’s technology is especially essential because global financial transactions total over $100 trillion per year. Systems that preceded Serge Belamant’s are still in use, but have a tendency of being inefficient. At times, the old-fashioned means of handling transacations have shown why some individuals may prefer electronic currency instead.
Serge Belamant’s blockchain technology could revolutionize more than just the finance sector. Supply chains have applied soms forms of blockchain to increase their efficiency and are deservingly hailed as accomplishments in efficient economic management.
As a founding patent holder, Serge Belamant was key to making this powerful technology a reality. A number of patents over the course of 20 years ultimately lead to the conception of blockchain technology. The first patent was an apparatus for controlling a gaaming operation; essentially, it allowed for secure operations of a casino. Second, Serge Belamant insightfully patented transactor identity verification (which ensures that buyer and seller become comfortable with each other). Third, Belamant patented technology which allowed transactors to supply information specific to their own circumstances, which implies the ability to provide location and other personal information. That was later followed by technology patented for more secure financial transactions, and technology for financial transactions which have varying PINS.
Technically, Serge Belamant himself did not invent cryptocurrency, but he not only laid the groundwork, but actively promoted use of his blockchain technology. Thus, a strong case could be made for treating him as a hero of finance and technology. Belamant currently runs a company called Zilch Technology Limited with his son, Phillip.
Learn more Serge Belamant: https://gb.wallmine.com/people/16738/serge-belamant