Thailand to Integrate with IBM and Maersk’s Blockchain to Streamline Logistics
The Customs Department of Thailand will start using TradeLens, the blockchain logistics project jointly built by IBM and shipping giant Maersk, and will play an integral role in Thailand’s 4.0 policy. With Singapore becoming the first South Asian nation to adopt TradeLens, Thailand officially becomes the second country to join the Association of Southeast Asian Nations to utilize the blockchain logistics platform.
Earlier this month, IBM and Maersk revealed that TradeLens has onboarded over 90 private and public entities including customs authorities and port operators.
The Bangkok Post reported that Thailand’s customs officials will be notified when shipping containers depart from their ports of origin, allowing officials to adequately prepare for the containers’ arrival.
“TradeLens will provide the Thai Customs Departments with an automatic and immutable tracking tool, which will lead to a more secure, transparent, efficient and simpler workflow, with near real-time information sharing from a diverse network of ecosystem members,” said Managing Director of IBM Thailand, Patama Chantaruck, in a statement to the Bangkok Post on Thursday.
Increased transparency of data could offer more efficient customs inspections for illegal activity such as forgery, along with streamlining revenue collections. Ultimately, the agreement allows TradeLens to enter the Thai market with the goal of shifting from what is predominantly a paper-based industry to a digital documentation process.