Bitcoin created a wave that was felt all around the world. Cryptocurrencies became a haven for investors leading to the global economic disruption of bitcoin. This is the same way that investors are currently viewing blockchain technology. It has been forecasted that blockchain technology can stand on its own.
Serge Belamant is the patent holder for the blockchain technology. He has been crucial to the development of the blockchain applications captured with the use of smart cards. This is combined with microprocessors with function both offline and online.
Blockchain technology refers to a ledger of records which have been linked together and encrypted. The ledgers contain crucial data which includes a time stamp and other related transaction data.
In the beginning phases of the development of blockchain technologies, it was developed to aid in the financial services sector to increase the accuracy of data, transparency, and the security of institutions together with the clients. The global financial transactions account for over $100 trillion yearly.
The current systems are becoming obsolete with increasing advanced technologies. This especially touches on international money transfer. Serge Belamant believes that this issue addresses the applications of blockchain technology.
The technology does not only apply in financial transactions only, but it also can be used in the future global economy. With the application ranging from smart contracts, labor-intensive enterprises, costs which can be reduced at significant speed to improve the market.
There is a lot of potentials that the Blockchain holds especially in smart contracts. The technology can be harnessed in businesses in the management of complex supply chains. This resolute to efficient economic management.
With a lustrous career in different firms, Serge Belamant honed his programming skills while working at SASWITCH. He later progressed to form Net1 Technologies in 1989. The firm currently has over $400 million worth in business transactions while catering for secure payment technologies in the Republic of Korea and South Africa. It is through Net1 Technologies that Sarge invented the Funds Transfer System.
After achieving massive success in Net1 Technologies, Serge Belamant progressed to form Zilch Technology Limited. Through the firm, it has focused solely in the banking sector.
Learn More: www.mylife.com/serge-belamant/