When it comes to the field of technology, blockchain is at the forefront of the industry with many applications still yet to be found and utilized. Blockchain technology is changing the future of online transaction and bank transactions. Serge Belamant is one of the original men that help develop the technology back in the early 90s’. Technological advancement in the past two decades has been major, which is building the opportunities that are available to Sere’s technology. Net1 Technologies, a company that Serge Belamant founded, is focused on incorporating blockchain technology into everyday life and technology that people use. With the success of Net1 so far, they are on a path to obtaining controlling interests in the company, despite being publically traded.
What this means, in the long run, is that Net1 Technologies has undervalued stock that will see a significant rose over the next few years. Currently, Net1 has a patented form of blockchain technology known as UEPS, which was developed by Serge Belamant in 1989. After getting his technology patented and ready for development, Serge Belamant started up his own company, which is what everyone knows as Net1 today. UEPS technology has been made compatible with different card users, including Visa and Mastercard. These cards function no differently than any normal debit card and can work regardless of being online or offline purchases. During the time it was invested, disregarding the need for a central computer to handle transactions was unheard of, which is what made Serge’s technology so groundbreaking.
Serge Belamant’s patented technology has been expanded on through his own company as well as many other organizations that have developed various forms of blockchain technology. Primarily, blockchain technology is used by financial institutions, such as banks, to allow for transactions to be encrypted and analyzed. After that process is over, the blockchain can then be decrypted to either be accepted or declined. This technology has gone a long way in reducing fraud as well as lowering costs for institutions and the future will hold even more advanced forms of it that will apply to everyone’s daily lives.
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