Indonesia Customs And Excise Adopts Blockchain-Platform TradeLens
The Indonesia Customs and Excise Department adopted the blockchain-enabled shipping platform TradeLens to improve the speed, accuracy and security of local and international shipping tracking. The solution is jointly developed by Danish transport and logistics giant Maersk and IBM.
On the TradeLens blockchain network, the Indonesia Customs and Excise is expected to operate a blockchain node, validate transactions, host data, and act as Trust Anchors, or validators for the network.
The platform is expected to help in more efficient and accurate container tracking and information sharing among platform members. This will also facilitate fraud and forgery inspections as well as more consistent and transparent revenue collection processes. It will also simplify the exchange of goods, automate documentation, and increase co-operation and communication between counterparties.
The department is among more than 100 diverse organizations worldwide involved in the TradeLens platform, which was launched in August 2018, 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 addition of five of the top six shipping carriers last year, including Maersk itself, on the network.
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.
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