Former Louis Vuitton executive Richard Fu joins blockchain technology pioneer BitSE

(August 25, Shanghai) As VeChain is commercialized, blockchain technology company BitSE has appointed Richard Fu Yu as the company’s sales director, an important role in the company’s future business development. Prior to this, Richard had worked for Louis Vuitton China for more than a decade.

When asked why he chose to join BitSE , Fu Yu said :

Before joining, I had in-depth exchanges with several founders of BitSE. During the communication process, I realized that blockchain may bring unprecedented impact and changes to the fields of commodity manufacturing and circulation. Blockchain will also change the behavior of future consumers, including food, clothing, housing and transportation. Just like the earth-shaking changes that the Internet has brought to the world in the past 30 years, blockchain will also have a more profound impact on the world in its own unique way.

As a person who has worked in the top luxury retail industry for more than a decade, Fu Yu's experience is that trust has always been an insurmountable obstacle between brand operators and consumers. For product manufacturers and sellers, today's consumers have very high requirements for product quality, design, origin, etc. However, consumers often do not have professional knowledge and skills in product identification, which leads to doubts and misunderstandings about products and even the entire brand during the purchase process.

Product homogeneity is a serious problem among high-end consumer brands. Young customers have become the main buyers of high-end consumer goods. These young consumers do not have high requirements for brand recognition, but they have very high requirements for the personalization of product design and the experience during the purchase process. However, similar products on the market currently have little breakthrough or revolutionary innovation in terms of materials, except for the recognition of the brand logo in appearance.

However, the data of blockchain itself cannot be tampered with and its open and transparent technical characteristics determine that it has natural advantages in anti-counterfeiting and tracking and tracing. The relationship between product manufacturers and consumers can be established on the basis of "trust without trust" based on blockchain technology. By scanning the NFC chip on the product with a mobile phone, consumers can quickly obtain necessary information such as the material, origin, and production date of the product. On the other hand, consumers can also customize personalized information that is permanently retained on the blockchain. From now on, consumers no longer have to worry about counterfeit problems when purchasing goods, and at the same time, the experience of the purchase process is increased, and timely interaction between brands, consumers, and potential consumers can be formed with the purchased products as the center.

Fu Yu also has his own views on VeChain, a product promoted by BitSE :

Through the implantation of VeChain chips, each commodity has since become a blockchain commodity, which has its own life, history, and unique identity. Blockchain commodities will also play an extremely important role in the future Internet of Things industry. The identification of each item in the Internet of Things is an important link to establish a direct connection between objects. Registering a unique ID of a commodity on the blockchain can not only realize direct communication between objects, but also realize direct value transmission between objects.

It is reported that at the upcoming Blockchain International Week in Shanghai, BitSE will also publicly display the specific demonstration process of its products Vechain and Qtum for the first time, so that more people can know and understand how blockchain technology will bring "earth-shaking" changes to the world, and these two products are just "a few of them". In addition, as a leading company in the blockchain field, BitSE is expected to release a special press conference for its product Vechain at the end of October.

It is no longer just a fantasy, a prophecy, or general talk; products that are truly close to life and concern you and me have arrived.

About BitSE

Founded in 2013, BitSE is an innovative enterprise focusing on the blockchain field and committed to using blockchain technology to innovate the industry. The company's founding team comes from world-renowned companies such as IBM, Alibaba and Louis Vuitton. The team has rich experience in technology, products and markets, and has core R&D teams from 9 countries around the world. It is the first in the world to propose the concept and idea of ​​Blockchain-As-A-Service.

In 2014, BitSE launched digital asset services and participated in and led many innovative projects in the blockchain industry. In 2015, BitSE established a blockchain research laboratory and conducted in-depth research on consensus mechanisms, DAPPs and smart contracts, establishing its leading position in the blockchain industry. In addition to its contributions to blockchain technology research and development, BitSE is also committed to providing blockchain-based solutions for corporate and social issues. For example, in 2015, it launched Vechain products, which provide a technical solution to the problem of counterfeiting for the consumer goods market by providing each product with a unique "electronic ID card". BitSE plans to launch a blockchain application product, Qtum, in the second half of 2016.