Thai Customs Department To Adopt IBM-Maersk Blockchain Shipping Platform

Blockchain, News | August 30, 2019 By:

The Customs Department of Thailand is planning to adopt blockchain shipping solution TradeLens to streamline procedures.

Launched in 2018, TradeLens is a global shipping solution jointly developed by A.P. Moller–Maersk and IBM. It uses blockchain technology to enable trust between multiple trading partners – from carriers to freight forwarders, customs officials, port authorities and more — when transacting in a digitized global trade documentation process. The TradeLens ecosystem, which has grown to over 100 member organizations, allows members to get a single shared view of a transaction without compromising details, privacy or confidentiality and can collaborate more efficiently and with greater certainty through real-time access to shipping data and shipping documents.

Local news outlet Bangkok Post reported Thailand’s Customs Department is working with IBM Thailand Co and Maersk on the adoption of the TradeLens platform, which will support the Thailand 4.0 policy, a sector-specific industrial policy that aims to attract new investment towards transforming the economy.

“TradeLens will provide the Thai Customs Department 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 Patama Chantaruck, vice-president for Indochina expansion and managing director of IBM Thailand.

According to Chuchai Udompote, principal adviser on the development of the Customs Incentive System for the Customs Department, the agency will implement the platform at Laem Chabang port in Chon Buri first and later at Bangkok port.

“The platform will let the department and related groups access real-time information, expediting processes and cutting costs,” Chuchai said. “TradeLens will also create greater transparency and customer satisfaction and align with the country’s efforts to promote trading and economic stability by facilitating ease of doing business.”