Cartier Owner Richemont Plans to Track Diamonds With Blockchain

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Richemont, the Swiss luxury goods giant that owns Cartier, is turning into blockchain in the movement, aimed at ensuring the transparency to its supply chain. Jin Keyu, a renowned economist and also an associate professor in the London School of Economics who had been appointed Richemont as a member of the board last year, stated during a speech at the event on Thursday that the luxury giant intends to utilize blockchain to control each of the parallel markets.” . As Cartier’s parent company, we’ve decided to start using blockchain to track the origin of diamondsstone, stone and gold back to the mines or recycling factories.

For all the watches that we sell, we also expect to track their sources to confirm their authenticity. She explained. Throughout her speech Jin also discussed her academic interests numerous reasons for her move to the blockchain business, adding that she’s to combine China based blockchain startup Ultrain as a consultant to contribute her experience on macroeconomics. Jin argued that blockchain jobs are frequently attempting to experiment and build monetary policies from scratch, without learning from existing academic research in the area. She said: To me personally, blockade significantly rebuilt the entire economic spectrum. I think that it’s very intriguing because, to solve this wide problem, we need not only microeconomics theories.

But also macro ones like currency, monetary policy and regulation.” . During a fireside chat with CoinDesk, Jin also indicated she also plans research to explore questions in the crypto world from the angle of macroeconomics. That work will potentially include designing a cryptocurrency that can perform 3 essential functions of a currency: storage of value, stability and unit of account. Originally from Beijing, Jin had become one of the youngest tenured professor in LSE after having obtained her BA, MA and PhD from Harvard. She’s often invited to appear on international business news outlets because of her macroeconomic experience on topics pertaining to China. Jin Keyu picture courtesy of Ultrain, diamonds picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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