Thailand is integrating IBM and Maersk's blockchain project to streamline its shipment tracking procedures, according to a local news source.
that 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. Thailand will be the second member of the Association of Southeast Asian Nations to use the platform, following Singapore.
More than 90 different companies have joined TradeLens since its launch.
According to the Post, customs officials in Thailand will receive notifications when shipping containers leave their ports of origin, allowing them to better prepare for arrival.
Patama Chantaruck, vice-president for Indochina expansion and managing director of IBM Thailand, told the Post that integrating blockchain tools will help modernize national and international trade. On TradeLens specifically, she said:
Increased data transparency may result in more efficient inspections for fraud and forgery, as well as more effective revenue collections, the Post said.
The customs department opened conversations with TradeLens represents last October, three months after the platform launched. It will first be implemented at a Chon Buri port, and later in Bangkok, the report said.
Thailand joins a number of other national regulators and 15 ocean carrier lines in implementing TradeLens.
Bangkok, Thailand skyline photo via Shutterstock