Thai Customs Department Opts For IBM’s Blockchain Powered Tradelens to Monitor Shipping August 30, 2019 August 30, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsAugust 30, 2019 by Kelly Cromley

Thai Customs Department Opts For IBM’s Blockchain Powered Tradelens to Monitor Shipping

IBM’s Tradelens blockchain solution has got another customer – Customs Department of Thailand. The blockchain platform is intended to be used to track movement of goods in and out of Thai ports.

The official website of Thai Customs Department indicates that the country intends to use Tradelens, a blockchain logistics system. The platform is anticipated to simplify functions by administering shipment tracking and data sharing.

Tradelens is an outcome of a joint venture between AP Moller-Maersk and IBM. The strategy to employ it in Thailand is among one of the Thailand 4.0 modernization initiative.

The latest system will result in result in digitization of shipment procedures, which were previously paper-based. That is anticipated to result in immediate and unalterable end-to-end data.

Patama Chantaruck, managing director of IBM Thailand and vice-president for Indochina expansion, stated that he anticipates the system to gain advantage of the partakers in the global logistics ecosystem.

Patama Chantaruck, elaborated on the development as follows:

“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.”

Chantaruck trusts that Tradelens will transmit shipping information to customs authorities the moment containers move out of the port of shipment, allowing time to get ready to collect goods and accomplish fraud and forgery inspection. The system will be initially employed at the Laem Chabang port in Chon Buri and then at Bangkok’s port.

Last month, maritime shipping firms Ocean Network Express and Hapag-Lloyd have also become member of blockchain tracking platform TradeLens.

Martin Gnass, managing director of information technology at the firm, is hopeful of creating highly efficient trading environment with the adoption of the platform by major carriers:

“Now, with five of the world’s six largest carriers committed to the platform, we can accelerate that transformation to provide greater trust, transparency and collaboration across supply chains and help promote global trade.”

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.