Cartier plans to track diamonds with blockchain

posted 3 days ago
Richemont, the Swiss luxury goods giant that owns Cartier, is turning to blockchain in a move aimed to bring transparency to its supply chain.

Jin Keyu, a renowned economist and an associate professor at the London School of Economics (LSE) who was appointed by Richemont as a board member last year, said during a speech at an event on Thursday that the luxury giant aims to use blockchain to control all the "parallel markets."

"As Cartier's parent company, we have recently decided to start utilizing blockchain to trace the origin of diamonds, rocks and gold back to the mines or recycling factories. For all the watches we sell, we also hope to (use blockchain) to track their sources to validate their authenticity," she said.
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