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Indonesian customs is ready to use the IBM supply chain blockchain platform

IBM Indonesia has revealed that Indonesia's General Directorate of Customs and Excise has begun using the blockchain-based shipping platform, TradeLens.

The news comes after several months of platform implementations, with the Indonesian Customs and Tax Department announcing that it would join the TradeLens consortium at the end of last year.

The announcement has caused Indonesia's customs department to become the eleventh government agency to join the TradeLens consortium, which includes other members and includes the customs authorities of Thailand, Azerbaijan and Canada, among others.

Indonesian customs is ready to use the IBM supply chain blockchain platform
Indonesian customs is ready to use the IBM supply chain blockchain platform

Tan Wijaya, president of IMB Indonesia, expressed his expectation that the partnership with the Indonesian customs party “would benefit all those interested in the entire logistics ecosystem and encourage the general modernization of trade.”

TradeLense registers 10 million weekly events

The TradeLens platform provides APIs that allow unchanging tracking and transmission of supply chain data using a blockchain with permission. The stated objective of the company is to facilitate faster commercial and customs verification and eliminate paper-based processes.

IBM launched TradeLens in association with the Danish transport conglomerate Maersk during August 2018 . Earlier this month, Maersk estimated that TradeLens tracks 10 million supply chain events every week.

In early February, the United States Federal Maritime Commission granted an antitrust exemption to five members of the United States-based TradeLense consortium to share data on events in the US supply chain, with an agreement between the five parties that will take effect February 6

Indonesian regulators are cautious with blockchain

The announcement comes three weeks after Indonesia's oldest cryptocurrency exchange, Indodax (formerly bitcoin.co.id), was licensed by the Commodities Futures Trading Regulatory Agency (BAPPEBTI) in the country.

Operating under the Ministry of Commerce, BAPPEBTI oversees cryptocurrency trading activities in Indonesia. Last year, BAPPEBTI ordered all Indonesian virtual currency exchanges to register with the institution. The new regulations led Indodax to seek licenses, despite the fact that the platform has been operational since 2014.

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