Back in 2017, global investors were seemingly entranced by cryptocurrencies. Bitcoin (BTC) and Ethereum (ETH) became all the rage, valuing at more than $800 billion at the time. It was an exciting time for what was considered a technology that would disrupt the global economy. While not everyone fully understood crypto, there was enough information to make Bitcoin and Ethereum household names. As with most things in life, there are contrarians that viewed things differently. In fact, there were some experts that believed blockchain technology was the true economic disrupter because it has the ability to stand alone without crypto.
When it comes to blockchain technology, you can’t really have that conversation without talking about Serge Belamant. What is blockchain technology? Although revolutionary, it isn’t complex. It’s a ledger of connected records and the individual ledgers possess critical information, such as a time stamp and various other transaction data types. The reason blockchain technology was developed in the first place is because there was a need for improved transparency in financial institutions, as well as increased accuracy and security. This is a necessity, especially given the annual $100+ trillion financial transactions worldwide. For decades, Serge Belamant has demonstrated the benefits of blockchain technology.
If you have ever traveled internationally, then you’ve likely experienced the difficulties associated with accessing money when you’re on the other side of the world. This is just one of many examples of how the benefits of blockchain technology can be far reaching. The problem often arises because of outdated systems that are simply inefficient and need to be modernized to align with current technologies. It’s certainly something that can mitigate the precarious issue that often exists when transferring money internationally.
Over the years, Serge Belamant has leveraged the application of smart contracts, among other systems, to reduce costs associated with business that are labor intensive. This isn’t just beneficial in the financial services sector, it’s actually something that’s of value across industries, especially since it can help companies achieve greater efficiency. As a founding patent holder of blockchain technologies, Serge Belamant has in fact used smart cards that contained microprocessors, with great success. The possibilities associated with blockchain technology are endless.
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