When thinking of famous inventors, there are some household names that come to mind. Whether it’s Walt Disney’s advancements in entertainment, Kanye West’s pioneering music or Mark Zuckerberg’s innovative social media network Facebook, there are always some names that may never leave the public consciousness. Perhaps this is for a good reason—it’s important to remember those who have come before us to pave the way for our multicultural and technological world.
However, in the years to come, it’s clear that a new name from the 21st century will be added to the list of society’s most notable innovators—Serge Belamant. As the original patent holder of blockchain technology, Serge Belamant developed one of the most successful encryption methods in modern day technology, providing increased security overall.
Blockchain technology is able to keep users safe by creating multiple different layers of data that are constantly changing. Think of it like multiple different keys that must be used to access the data. Because simply having one key (i.e. a password) has been shown to leave one’s data vulnerable, having multiple ones that are constantly changing is a great way to ensure true encryption. This is why blockchain was originally developed to serve the financial sector, providing a way to make transactions that would allow people to feel secure throughout the entire process.
Before he developed blockchain, Serge Belamant had been building up to the discovery. Through similar innovations (such as FTS/UEPS technology) during his time working with Net1 Technologies, Belamant has always been searching for a way to make transactions more accessible and safe. His most significant discovery would come with his smart card patents, developments that defined the specific layers of encryption that would define blockchain technologies. Through creating constantly changing pins (varying pins) and ways to identify information based on context (Designation of Electronic Financial Transactions, otherwise known as DEFT), Belamant would eventually come to blockchain in 2010.
The story of blockchain doesn’t stop there, though. To this day, Serge Belamant is continuing to develop the technology at his company Zilch Technology Limited, finding new ways to make sure transactions are safe for everyone!