The number of supporters of the TradeLens platform is constantly growing. In order to increase their efficiency, organizations associated with transport decide to shift away from traditional forms of documentation in favor of solutions based on blockchain technology.
On August 28, a press conference was held in Thailand during which plans regarding the modernization of the port trade were presented. Thailand’s Customs Department strives to improve shipment tracking procedures and create better facilities for checking shipments at local ports. Its purpose is also to introduce changes in logistics systems - to digitize shipping processes, precisely speaking. This involves eliminating paper-based documents and moving them to blockchain. For this, the TradeLens platform, which is the fruit of cooperation between the transport giant Maersk and the IBM technology company, will be used.
This platform is supported by the biggest industry players, and therefore it is not surprising that more and more organizations want to join it. The TradeLens ecosystem serves carriers, terminal operators, shipping agents and ports. The idea behind the creation of this platform was to create an environment for effective trade on a global scale. TradeLens was launched in 2018, and even then, right after it being launched, as many as 94 companies joined it. It is worth highlighting, that the platform will also be supported by two of the largest container shipping companies - the Mediterranean Shipping Company (MSC) and CMA CGM. It is worth noting that at the end of June the TradeLens platform was also launched in Russia. In order to do this, Ministry of Transport of the Russian Federation has signed a memorandum of understanding with Maersk .
The map below presents ports and terminals integrated with TradeLens.
TradeLens in Thailand
Blockchain platform owned by IBM and Maersk will allow immediate transfer of shipment-related data which will be a great help for Thai customs officials. TradeLens will ensure greater transparency and at the same time minimize the costs that were associated with delays or information leaks.