According to Coindesk's August 30 report, Thailand is integrating IBM and Maersk's blockchain projects to streamline its cargo tracking process.
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The Bangkok Post reported on Thursday that as part of Thailand's 4.0 policy, Thai Customs will use TradeLens, a logistics platform jointly supported by IBM and Maersk. Thailand will be the second member of the Association of Southeast Asian Nations to use the platform after Singapore.
Since the founding of TradeLens, more than 90 different companies have joined and used the platform.
According to the report, Thai customs officials will be notified when the container leaves the departure port in order to better prepare for the arrival of the goods.
Patama Chantaruck, vice president and general manager of IBM Thailand's Southeast Asia Peninsula business, told local media that integrating blockchain tools will help modernize national and international trade. When it comes to TradeLens, she says:
TradeLens will provide the Thai Customs with an automated, unalterable tracking tool that will lead to a safer, more transparent, efficient and simple workflow, as well as near real-time information sharing from networks of different ecosystem members.
According to the Bangkok Post, improving data transparency allows for more effective inspections of fraud and counterfeiting and more efficient collection of relevant information.
In October last year, Thai Customs held a dialogue with representatives of TradeLens. According to reports at the time, the plan will be implemented first at the Port of Chuanburi and then in Bangkok.
In order to implement TradeLens, Thailand has joined other national regulatory agencies and 15 shipping routes.