Blockchain technology has taken the world by surprise. At the top of companies offering blockchain applications is Net1 UEPS Technologies in South Africa. Serge Belamant is the founder of Net1. The company began its operations in 1989. This financial technology company earns a lot of free money flow from its blockchain applications. As of now, the stock is highly undervalued, and if this goes on, Net1 will be able to purchase back all public shares by 2023. The blockchain is going to revolutionize the banking sector in surprising ways.
The Role of Net1
Net1 is South Africa’s leading provider of transaction and payment processing solution services. The firm deals in designing, developing, and offering marketing services, solutions, and transactions. The company’s transaction processing department provides the South African government with a welfare distribution service. It also helps local utilities, banks, hospitals and retailers in the processing of transactions. Net1 also offers transaction processing services on an international level to Korean customers. UEPS has a financial inclusion segment that deals in providing short-term loans to agencies. From this, Serge Belamant and his team at Net I generate money by charging services and initiation fees.
Blockchain Technologies Debit Card
UEPS Technologies’ blockchain technologies come in the form of a smart card. The card can be used as a debit card. It is compatible with Europay Master card Visa. The smart card can be used in all areas where EMV’s are accepted. This card can work both offline and online. There is no need of centralized computers to record, encrypt and give permission for transactions to take place. With UEPS, Net1 has managed to modernize grant payments by offering speed, security, and interoperability.
About Serge Belamant
Serge Belamant is of French descent. He was born in 1953, and when he was 14 years old, he moved to South Africa. He went to high school in Highlands North. He also went to Witwatersrand University where he studied engineering, applied mathematics, and computer science. Although he did not complete these studies, he did information systems courses via UNISA. Serge Belamant is the founder and former Chief Executive Officer of Net1 Technologies.
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