Specifically, after a long period of time implementing the new platform, the Indonesian customs agency has finalized its decision, becoming the 11th participant of the TradeLens consortium. Previously, governmental departments in charge of customs for Thailand, Azerbaijan, and Canada, and numerous others, have also taken part in the association.
Tan Wijaya – head of IBM Indonesia – shared his belief that this new alliance will “benefit all stakeholders in the entire logistics ecosystem and encourage the overall modernization of trade.”
The TradeLens platform comes with specific APIs, which provide immutable tracking process for supply chain information, along with authorized, blockchain-enabled broadcast.
The firm primarily looks to offer trade and customs verification with enhanced speed, as well as cancel out the need of paper-based processes.
IBM has teamed up with transport giant Maersk from Denmark to release TradeLens, in August 2 years ago. In early February 2020, Maersk disclosed figures of 10 million supply chain events is in TradeLens tracking system on a weekly basis.
Previously, Indodax – the longest-running crypto exchange firm based throughout Indonesia – has been given greenlight by the country’s Commodity Futures Trading Regulatory Agency (BAPPEBTI).