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- Indonesian Customs and Excise Department has used services provided by TradeLens, a blockchain-based shipping and logistics platform.
- The intention to join the TradeLens consortium was announced by the company in the latter half of 2019.
- TradeLens is expected to improve the speed, accuracy, transparency, and security of the tracking for Indonesian Customs while expanding the country’s National Logistics Ecosystem (NLE).
Indonesian Customs and Excise Department has used services provided by TradeLens, a blockchain-based shipping and logistics platform, to increase the functionality of their international and local shipment tracking. The intention to join the TradeLens consortium was announced by the company in the latter half of 2019 and since then several updates and new developments were being made on the platform to accommodate the new integration.
TradeLens is expected to improve the speed, accuracy, transparency, and security of the tracking for Indonesian Customs while expanding the country’s National Logistics Ecosystem (NLE). Technology giant, IBM and logistics and transport behemoth, Maersk have also partnered with the Customs and Excise department in order to successfully deploy this solution.
Decentralized shipment
The Customs and Excise branch will be the third government in South East Asia to adopt TradeLens’ services with the others being Thailand and Singapore’s customs. The customs department will serve as a node on TradeLens’ blockchain network being “Trust Nodes” (validating transactions) and recording the decentralised shipment data, and enabling security checks on the data to maintain integrity. Periodically consistent fraud checks will be taken to prevent misuse on the blockchain and the revenue collection process is to be greatly simplified.
This move will also decrease the number of the operational costs taken by automating tasks like the documentation for the shipments, the communication channels between the sender and recipient of the shipment and even the direct transfer of goods itself. IoT devices will also be used to record shipment and other aspects of the goods being transported. This will speed up the trading and customs verification processes while maintaining data transparency and security on the blockchain.
TradeLens boasts a diverse clientele with over 100 organizations worldwide using the platform’s service providing. TradeLens also holds the data of over half the world’s ocean shipment carriers on its network after hosting for five out of six of the top shipment service providers in the world including the Danish shipment giant Maersk who also works on the Indonesian project.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
