The first Blockchain Debit Card by Serge Belamant is making its way onto the market. Some have said the technology is like going back to the internet in the 80s or 90s. One company is making strides in this arena of making blockchain applications a reality. Net1 Technologies is earning a lot of cash positioning itself as a financial tech company. They are in a great spot to earn back public shares way before the year 2023 when or if the stock becomes undervalued. Aside from that, the online business is known for its creation of blockchain technology that fits on a smart card which consumers can use as a regular debit card.
They can also be used to be compatible with Europay Mastercard Visa wherever these are legally accepted. The way it works is using distribution ledgers that can function online and offline. Serge Belamant says that all work with any type of centralized computer network. It’s one of the first to appear on the market which no else has achieved.The smart card will validate and therefore develop what’s called an audit record. This encrypted information can approve transactions at your place of purchase. The card doesn’t rely on any kind of electric source nor does it have to have a point of sale type of device. Basically, Serge Belamant states that the smart card serves as an independent bank account minus the normal banking fees and costs.
One will only need a battery when offline and recording transactions. Once you have successful made some transactions on the card, the information is safely stored. If you decide to use the card at an ATM, it will automatically update all info and confirm previous offline purchases. Net1 is responsible for approving and storing the transactions to one mainframe computer.Serge Belamant widely known throughout the industry as the sole creator of this type of blockchain technology that started way back in 1989. He is the only one that has the patent for the blockchain technology at the time.