Thai Customs Joins TradeLens Blockchain Platform

Thai Customs Joins TradeLens Blockchain Platform

The Thai Customs Department has joined the TradeLens blockchain platform, jointly developed by technology giant IBM and the largest logistics company, Maersk.

The goal of the initiative is to modernize trade and support Thai 4.0 policies, said
department. TradeLens will provide “an automatic and unchanged tracking tool that will lead to a safe, transparent, efficient and streamlined workflow,” said
IBM Thailand Managing Director Patama Chantaruck.

According to the report, the blockchain platform will be first implemented at Laem Chabang port in Chonburi, and then at the port of Bangkok. TradeLens will help the department and related parties gain real-time access to information, accelerate processes and reduce costs, said Chuchai Udompote, senior adviser on developing a customs incentive system for the Customs Department.

IBM and Maersk launched
TradeLens platform last August. Since then, major ports and companies have gradually joined the blockchain. In June, the TradeLens blockchain platform was launched
in Russia.

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In July, Hapag-Lloyd and Singapore-based Ocean Network Express (ONE), the fifth and sixth largest freight carrier in the world, respectively, also joined
to the TradeLens blockchain. In May, two major shipping companies Mediterranean Shipping Co (MSC) and CMA CGM joined
to the blockchain platform.


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