Cryptocurrency traders, banks, and other financial institutions are using blockchain technology to help them secure all of the transactions involved in their business. One of the most significant individuals who helped develop the technology is Serge Belamant. He patented his invention back in the 1980s, which is a blockchain supported debit card.
His vision back then was to provide the public with a more secure way of transacting with their banks, and the creation of the blockchain supported debit card is what he saw as an answer to the rising number of fraud cases that are aimed at the most vulnerable people in the society.
The invention of Serge Belamant became widely known because it uses a series of codes and timestamps with every successful transaction. What happens within a system that uses the blockchain technology is that all of the transactions are marked with a certain code, and a time stamp is also included.
Learn more about Belamant at Bhekisisa.org
For every transaction made, the code will be changed, and another one will be created, with references to the older code that was generated. It would give the impression that the whole process is legitimate, and it would lessen the chances of the scammers and fraud criminals to take advantage of their victims.
The blockchain technology which was developed by Serge Belamant is useful when it comes to banking transactions and other financial transactions. In the world of cryptocurrency trading, for example, people who know how blockchain technology works can employ it to determine if the cryptocurrency that they receive is authentic.
Traders can also identify all of the transactions made using the cryptocurrency. In the field of banking, depositors and those who own a bank account would have a higher security protocol that would save them from being victimized by scammers. Blockchain is also used in the gaming industry, especially those who are fond of playing online games. Blockchain is activated to ensure that trades are legitimate, and no scammers can take advantage of the players.
Serge Belamant had an impactful influence on the blockchain system, and it would not be possible without his skills and talent in coding and developing new programs.