The forbearer of Zilch Technology Limited, Serge Belamant was born in France in 1953, but later relocated to South Africa when he was 14 years. He attended Highlands North High School for Boys where he learnt how to speak and write English. While there, he excelled in athletics, rugby, as well as chess. He was also the head prefect, house captain, and member of both the bridge and science club.
Over the early years, Net 1 attempt to provide UEPS systems to institutions such as banks was unsuccessful. In spite of this, Net 1 entered into an agreement with Visa for the creation and foster of a visa application using FTS/ UEPS technology. To complete, the project of creating the Chip Offline Pre-authorized Card, Serge Belamant moved to the USA.In 1999, Net 1 procured Cash Paymaster Services (CPS) from FNB. It presented a system to render a welfare donations to nearly 1 million South Africans residing in rural areas. Through utilization of UEPS, Net 1 modernized payment of charity by supporting speed, security, and interoperability.Serge Belamant struggle to list Net 1 on NASDAQ finally came through in 2005. He held the position of chair and CEO of Net 1 until 2017. Net 1 expanded past South Africa borders and signed deals in Botswana, Burundi, Russia, Namibia, Iraq, and later Ghana. In its peak, Net 1 funding surpassed the 2 billion USD mark.
Revolutionizing of Banking through Block chains
Many people declare that block chain is like the internet in the 80’s and 90’s. Net 1 technologies spearheaded various block chains applications. The utilization of block chain technologies assists Net 1 technologies to gain important free cash flows as a commercial tech company.
Net 1 technologies designed a chartered form of block chain technology on a smart card. It serves as a debit card and does much more. This smart card uses distributed ledgers that function both online and offline. The smart cards help create an audit record, confirm, encrypt, decrypt, and approve transactions to occur. The block chain smart card does not require electricital connection thus can work an entire bank account less of infrastructure costs. Serge Belamant deserves recognition for his excellent work.