Thailand Will Use Blockchain in Logistics
The Bangkok Post announced on Thursday that the Thai Customs Department will accept the TradeLens logistics platform, jointly supported by IBM and Maersk, as a part of Thailand's 4.0 policy. Thailand will become the second member of the Association of South-east Asian which will use this platform. It was integrated by Singapore first.
Thailand Integrates TradeLens Blockchain Platform
More than 90 different companies have joined TradeLens since its launch.
According to the report, Customs officials in Thailand will receive notifications when containers for shipping leave other ports, which will allow them to prepare for the arrival better.
Vice president of Indochina's expansion Patama Chantaruk and managing director of IBM Thailand told the Bangkok Post that integrating blockchain tools will help streamline national and international trade. In particular, she claimed:
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
Increased data transparency can lead to more effective audit for fraud and fakes, as well as to improved revenue collection.
The customs department began negotiations with TradeLens, presented in October last year, three months after the launch of the platform. The report says that it will be implemented in the port of Chonburi first, and then in Bangkok.
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