In early-to-mid 1997, SEGA has two next generation consoles in development.
The Sega of America designed 'Black Belt' using a derivative of the upcoming
3Dfx Voodoo2 or Banshee graphics technology.

The other console, designed by Sega of Japan using a derivative of the upcoming
PowerVR Highlander (PowerVR2) technology.

article from Next Generation August 1997






The decision was made known in July 1997. Of course we all know Sega
decided to go with PowerVR over 3Dfx.

That means Sega did not go ahead with Black Belt.
They went with the Dural system using PowerVR2 instead.

Dural got the official codename of 'Katana' later in 1997
and then the consumer name of Dreamcast in 1998.