Joint Standing Committee of Commerce, Industry and Banking (JSCCIB) of Thailand and NTT DATA collaborated in a trial deployment of blockchain technology under the National Digital Trade Platform Project at the Asean Business and Investment Summit (ABIS 2019) on 3rd November 2019. The event was held at the Impact Challenger, Bangkok. ABIS 2019 served as a platform for the business community to engage with the Leaders from ASEAN and beyond.

Mr. Kalin Sarasin, chairman of the Joint Standing Committee of Commerce, Industry and Banking (JSCCIB) of Thailand announced today that it has successfully completed a trial of a trade platform incorporating NTT DATA’s blockchain technology. NTT DATA, which has developed a digital trade solution in Japan, collaborated with JSCCIB in studying the feasibility and benefits of a cross-industry trade platform under Thailand’s National Digital Trade Platform (NDTP) project.

Mr. Hironari Tomioka, President and CEO of NTT DATA Thailand, said that " the benefits of using electronic trade documents for international trade were examined by 47 trial participants from 24 cross-industry companies, including Thai banks, forwarders, carriers, exporters, insurers, certificate of origin providers and Japanese importers took part in the trials. Trade documents such as purchase orders, invoices, shipping instructions, sea waybills, certificates of origin, export permits, insurance policies and trade finance documents were used in mock business scenarios during the trial.

The trade platform deployed blockchain, artificial intelligence (AI) and other digital technologies. NTT DATA has been developing the platform in Japan through discussions with cross–industry companies consortium. The consortium was established in 2017 by NTT DATA, with members from banks, insurance companies, cargo owners and carries/logistics companies who share a mutual interest in paperless international trade.

NTT DATA aims to realize 100% paperless international trade that eliminates the need for paper documents and increases the efficiency of trade procedures. The company plans to introduce its trade platform in the ASEAN region in cooperation with local government agencies and service providers, ultimately for the economic benefit of the respective countries.