The development of blockchain technology is exciting and obscure. Consider how disruptive it is. At one point during the boom of 2017, the whole cryptocurrency market comprised over 1 percent of global GDP. That is quite impressive for a technology that was considered in a bubble at the time. The market would retract to about a quarter of its highest value.
Few people outside of the industry expected cryptocurrencies to make another serious run. However, what many onlookers did not know was that development never wavered. This is because blockchain, which differs from cryptocurrencies, provides a very real advantage for data management. It does a lot more actually, like establishing an environment for cryptocurrencies trading. Ultimately, blockchain development proves to be the best solution for what the Internet was truly meant to become and the innovation that it motivates.
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Among the lesser-known contributors of blockchain technology is Serge Belamant. He is not a famous blockchain programmer that sought to create a highly touted ICO. Rather, Serge Belamant laid the groundwork for the development of blockchain. His work directly advances the relationship between digital payments, banking, and the online world. Serge Belamant also improved upon the security involved in these operations. Some of the patents he holds are:
Method and Apparatus for Controlling a Gaming Operation (2001)
Secure Financial Transactions (2010)
Designation of Electronic Financial Transactions (2012)
Verification of a Transactor’s Identity (2012)
Financial Transactions with a Varying Pin (2014)
Notice the time frame between Serge Belamant’s patents and the original blockchain. Bitcoin was released in 2009. However, back then, Bitcoin was not what it has become today. Today, blockchains run smart contracts. Essentially, these are programs that automatically fulfill transactions based upon the requests made by the parties involved. Smart contracts, or decentralized applications, were introduced much later in blockchain’s history. Ethereum introduced them successfully to be become Bitcoin’s top competitor. However, it was Serge Belamant who was looking into and developing secure smart cards for gaming operations back in 2001.
Learn more about Serge Belamant: https://www.marketscreener.com/business-leaders/Serge-Christian-Pierre-Belamant-05Q75R-E/biography/