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Maersk and IBM are ending their joint Blockchain project TradeLens

By ET Bureau - December 01, 2022 1 Mins Read

A.P. Moller – Maersk and IBM plan to shut down their Blockchain-enabled global trade digitization platform, TradeLens, after the solution failed to reach commercial viability, the companies announced Tuesday.

The decision was defended in a statement by Rotem Hershko, head of business platforms at A.P. Moller-Maersk, who noted that, “TradeLens has not reached the level of commercial viability necessary to continue work and meet the financial expectations as an independent business.”

Also Read: Busting Three Key Fallacies About Multi-Cloud Computing

On Tuesday, the companies “withdrew offerings and discontinued the platform,” with the intention of completely deactivating the solution by the end of Q1 2023. TradeLens has now become a victim of slow adoption in a supply chain ecosystem where private data is abundant but frequently secretive or challenging to parse, integrate, and share.

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ET Bureau

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