IBM and Maersk Abandon Ship on TradeLens Logistics Blockchain

An enterprise blockchain project from bygone bear markets will wind down after five years.

AccessTimeIconNov 30, 2022 at 2:35 a.m. UTC
Updated May 9, 2023 at 4:03 a.m. UTC
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Maersk and IBM will wind down their shipping blockchain TradeLens by early 2023, ending the pair’s five-year project to improve global trade by connecting supply chains on a permissioned blockchain.

TradeLens emerged during the “enterprise blockchain” era of 2018 as a high-flying effort to make inter-corporate trade more efficient. Open to shipping and freight operators, its members could validate the transaction of goods as recorded on a transparent digital ledger.

The idea was to save its member-shipping companies money by connecting their world. But the network was only as strong as its participants; despite some early wins, TradeLens ultimately failed to catch on with a critical mass of its target industry.

“TradeLens has not reached the level of commercial viability necessary to continue work and meet the financial expectations as an independent business,” Maersk Head of Business Platforms Rotem Hershko said in a statement.

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Danny Nelson

Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.


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