According to a local news source, to streamline its shipment tracking procedures, Thailand is integrating IBM and Maersk’s blockchain project.
The Customs Department of Thailand will adopt TradeLens, the logistics platform jointly supported by IBM and Maersk as part of the country’s Thailand 4.0 policy has been adopted by the Customs Department of Thailand, the Bangkok Post reported on Thursday.
Following Singapore, Thailand will be the second member of the Association of Southeast Asian Nations to use the platform. Since its launch More than 90 different companies have joined TradeLens.
Customs officials in Thailand will receive notifications when shipping containers and leave their ports of origin, thereby allowing them to better prepare for arrival, the Post stated.
“Integrating blockchain tools will definitely modernize national and international trade”. Stated Patama Chantaruck, vice-president for Indochina expansion and managing director of IBM Thailand, in a post.
On TradeLens specifically, she said:
“An automatic and immutable tracking tool will be provided to Thailand Customs Department by TradeLens which will lead to a more secure, transparent, efficient and simpler workflow, with almost real-time information sharing from a diverse network of ecosystem members.”
Increased data transparency may result in more efficient inspections for fraud and forgery, as well as more effective revenue collections, the Post said.
Meanwhile months after the platform was launched, the customs department opened conversations with TradeLens.
Furthermore the report stated that it will first be implemented at a Chon Buri port, and later in Bangkok.
Some other national regulators and 15 ocean carrier lines has joined with Thailand in implementing TradeLens.
Credits: Daniel Kuhn
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