Director of the Cartier owner will enter on a startup Blokchain

Richemont, the Swiss luxury goods giant that owns Cartier, may use Blockchain to bring transparency to the company's value chain. Jin Keyu is due to join the Chinese Blockin starin Ultrain.

Jin Keyu, an economist and associate professor at the London School of Economics (LSE), who was appointed by Richemont as a board member last year, said during a keynote speech at an event he believes there is potential for Blockchain applications in the including the location of the origin of the diamond and control of the so-called "parallel market".

"Even for luxury goods companies, for example, Cartier, whose parent company is Richemont, of which I am a board member, is paying attention to Blockchain technology. And personally, I believe Blockchain technology has the potential to benefit the industry."

"Business owners in this industry need to know where diamonds, stones, gold, the mine or recycling plant come from. For watches sold, both sellers and buyers would like to to track the after-death products, to authenticate them, to the after-sales treatment of repairs to used products. The technology can also be used to control parallel markets."

During his keynote speech, Jin Keyu also discussed his academic interests and reasons for his entry into Blockchain's market, adding that he should join the Chinese blockinain starin Ultrain as a consultant to contribute his expertise in macroeconomics.

Jin argued that Blockchain's projects often try to experiment and build monetary policies from scratch, without learning from academic research in the field.