NET1 Creates First Blockchain Smart Card

Serge Belamant was born in France in 1953 but moved to South Africa with his family at the age of fourteen where he had to overcome the challenge of learning English while attending Highlands North High School. Serge Belamant learned English and excelled both in academics and athletics while in high school. After graduating high school Belamant attended Witwatersrand University and studied engineering before changing his focus of study to computer science and applied mathematics.

Though he attended Witwatersrand University for two years Belamant did not graduate from the university. Instead, Belamant chose to take online courses in Information Systems for a year from the University of South Africa. Before founding company, NET1 UEPS Technologies, Inc. in 1989 Serge Belamant worked in an engineering firm, learned linear and non-linear programming, created the VIB Network, developed a ten-step risk assessment program, and was head hunted to work on the SASWITCH system.

Serge Belamant has applied for several patents some of which have been granted and others remain pending. NET1 UEPS has used patented technology to create the first smart card that uses blockchain technology. The smart cards have several favorable key features. The NET1 UEPS smart cards have solved security issues by using patented technology that verifies a users identity and facilitates a transaction by generating a PIN for a biometric identifier that is correct. Users fingerprints will be stored digitally on the smart cards chip. The smart cards will work while offline. The recorded information will update and the transactions will confirm once the card interacts with a centralized point of sale device or an ATM. All recorded transactions are stored on NET1’s central database. The NET1 UEPS Technologies smart card works just like a bank and targeted South Africa’s illiterate poor.

Serge Belamant created the blockchain smart card to be easy to use by South Africa’s rural poor. The biometric verification security feature allows illiterate users to use a fingerprint and not worry about passwords.

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