He struggled to Find a Major until he Discovered Info Systems…
He went from engineering to info systems in under four years while he was in college! Serge Belamant always aspirations that were noble, however. Blockchain technology is changing everything that we thought we knew about the banking, finance and retail POS industries. According to Serge Belamant not only invented blockchain but is currently the man behind the blockchain debit card that is taking Europe by storm.
How Does it all Work?
Imagine the business world where you, the consumer, are making purchases and your bank’s pesky infrastructure isn’t even required! Imagine if that little debit card in your wallet was the infrastructure…you’d be a little scared if you were a bank, right? Or course you would. You would have spent hundreds of millions of dollars on infrastructure that could soon be outdated. Blockchain is here to stay; the IRS considers it money. This should speak enough on it’s own. Now, Serge Belamant is showing us that the technology can turn our wallets into a banking IS, complete with security and crypto options? The business idea is an impressive one. It’s also a realistic one and this is what scares the banks.
What is the Impact that it could have?
Well, if we remove the expensive security infrastructure from banking, you’re kind of left with a blanket of generic third party services offering certain, “in-person,” interactions when they are required. We certainly won’t continue to see banks that also are masters of the online banking domain! Why would anybody pay for that when their debit card serves the purpose of the previously described infrastructure? Banks might still run many countries (US included) for some time because of common procedure. When it comes to online banking they’ll have nothing to offer you better than the invention of Serge Belamant, so they might try to buy into it. It’s certainly a cheaper form of infrastructure to buy into when compared to the rooms full of physical servers that used to be the necessary form of investment for the banking industry. Maybe Serge Belamant has a lot to offer them?