According to NewsBTC reported on 2 January, the Saudi customs authorities have completed a pilot project to track shipments using blockchain, which connects its cargo tracking platform FASAH with IBM and Maersk’s TradeLens blockchain platform for cargo tracking. For Saudi Arabia, the move is part of the authorities plan to expand the country’s economic vision for the year 2030.
The TradeLens platform was launched in August 2018 jointly by tech giant IBM and Danish shipping logistics company Maersk, with the aim of transferring the global supply chain to the blockchain.At that time, the project had a total of 94 different participants and already had 1. 54 million shipping records.
The aim of FASAH’s cooperation with TradeLens is“to ensure the stability, traceability, auditability and compliance of services related to cross-border trade in goods”.Blockchain is the key technology to achieve these goals, and Saudi Customs has been exploring the use cases of blockchain, creating real solutions for fragmented peer-to-peer business ecosystems, addressing issues inherent in blockchain technology such as scalability and data interoperability.In the statement, Saudi Customs said：
“As an early adopter of blockchain, Saudi Customs is committed to experimenting and understanding the decentralized nature of this technology by setting realistic expectations in preparation for migration from traditional platform technologies to this broader ecosystem.”
Prior to this experiment, the platform FASAH has been connected to all participating in the country’s cross-border trade of government agencies, private entities and other traders.
The TradeLens platform is expected to save thousands of dollars in costs for customs agencies, and by integrating with Fasah, it can save 40% of transit time.
TradeLens currently consists of more than 20 ports and terminal operators, these ports represent more than 230 sea crossings or seaports from around the world.At the same time, customs authorities, freight forwarders, forwarders,third-party logistics providers and shipping companies are also participants of this platform.