Thai Customs Department Started Partnership With TradeLens
The Customs Department of Thailand, which is the official department that collects imported goods, has just signed a new partnership with the blockchain company TradeLends. TradeLends is a platform that was developed by two giants, IBM and Maersk.
The local customs department has affirmed that the goal of the partnership is to modernize trade. This is also part of a wide government policy called Thailand 4.0, which is set to use highly valuable technology to fix problems by creating new solutions.
According to the managing director of IBM, Patama Chantaruck, TradeLens will be used in Thailand as a way to make the workflow in ports more transparent, secure and efficient. The platform can be used to manage and track goods and it has an immutable ledger, meaning that no one can tamper with its information.
Now, the technology will be integrated with Thailand slowly. The first pilot test will happen in Chon Buri, at the Laem Chabang Port. After that, the port in the country’s capital Bangkok will also use the technology.
According to the main advisor of the customs department, Chuchai Udompote, the partnership will help to cut costs and to let the users of the port access the information about their goods in real-time, which is set to revolutionize the shipping business.
TradeLens was originally launched by IBM and Maersk around a year ago. Initially, the platform had a tough time finding partners, but it seems that the platform may finally be achieving some success.