According to this blog, Belzar modchip is quite possibly a fake.

Yep, that’s Belzar right there. The same Belzar.com who only recently proclaimed to the world that they are on the verge of releasing a full-fledged direct boot modchip for the PS3. The first of its kind, they said. They’ve already sent out the second beta of the second modchip to 50 beta testers in fact!
And even if it wasn’t fake, I have some doubts with the said modchip since I’ve been recently researching a bit about it. There have been quite the buzz about the fact that the belzar modchip would only work until the next firmware update and then it’ll be pretty much useless. Even according to the comments in this website, which is a website all about modding the playstation 3. They have been quite skeptical about the capabilities of this chip.
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#1 by Darrel Smart on May 29, 2010 - 7:40 am
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Heh am I really the only reply to this amazing read!?
#2 by Vito Griffith on June 1, 2010 - 6:37 pm
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You’ve done it once again! Superb post!