Technology inventor Serge Belamant revolutionized financial institutions and governments when he developed the Verification of a Transactor’s Identity System. His first invention, the Method and Apparatus for Controlling a Gaming Operation System is a smart card that features secure processing and memory apparatus. Each system uses a smart card, a technology Serge Belamant patented in 1989 in the US, Europe, South Africa, and other global countries. The technology emerged in the development of blockchain applications that uses micro processors in smart cards for identity verification and to control game operations for wagering. Serge Belamant claims on the Verification of a Transactor’s Identity System incorporate secured apparatus, memory storage, and processors in a smart card.
The memory of the card stores the application for controlling the operations of a game and associating gain and loss data of its players. The patent claims the technology can provide functioning gaming with a second processor, display, and input. Another claim is that the system transmits output signals that represent a game result. In a news report issued by BlockPitch, in December of this year, the approval date of the patent was in 2001. The Verification of Transactor’s Identity System is popular around the business world for verifying the identity of a transactor before conducting financial transactions. This system facilitates a transaction between transactors and a government agency or financial institution.
An independent verifier is the operator of the facility for verifying and identifying a transactor. Serge Belamant didn’t receive approval for the system’s patent until 2014, seven years after filing for it. In South Africa and other African countries, Serge Belamant is known as a blockchain inventor of smart cards. He made the identification and financial processing innovative for ensuring security and the handling of financial transactions. The blockchain technology he created is a ledger or list linked with cryptograph which includes data of the transaction and its time stamp. The best feature of the Transactor’s Identity System is its online and offline capabilities. Five years ago, he filed for a patent for his invention of the Financial Transactions With a Varying Pin System and he’s waiting on its approval.
Sources of the article : https://www.biznews.com/briefs/2017/05/25/net1-ceo-serge-belamant-retirement