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Thai Customs Department To Join Blockchain-Platform TradeLens

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The Customs Department of Thailand is set to join the blockchain-enabled shipping platform TradeLens to track shipments at Thai ports. The solution is jointly developed by Danish transport and logistics giant Maersk and IBM by applying blockchain to the world's global supply chain.

On the TradeLens blockchain network, the Thai Customs Department is expected to operate a blockchain node, participate in consensus to validate transactions, host data, and act as Trust Anchors, or validators, for the network.

The department is among more than 100 diverse organizations worldwide involved in the TradeLens platform, which was launched in August last year, just six months after the blockchain collaboration between IBM and Maersk was announced in January 2018.

The platform has the data for more than half of the world's ocean container cargo on the blockchain network after the recent addition of five of the top six shipping carriers, including Maersk itself, on the network.

TradeLens helps multiple trading partners to collaborate by establishing a single shared view of a transaction without compromising privacy and confidentiality of the data. Real-time access to shipping data and shipping documents is made possible.

The TradeLens ecosystem includes global shippers, shipping lines, third-party logistics providers, freight forwarders, customs authorities and border agencies. It also includes more than 20 port and terminal operators, representing about 234 marine gateways or seaports on five continents.

According to the data collected by the system, the use of TradeLens is claimed to reduce the transit time of a shipment by 40 percent, which represents thousands of dollars in cost saving. TradeLens is already processing over ten million discrete shipping events and thousands of documents each week.

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