Maersk and company IBM Yesterday they announced their decision to cancel the blockchain project TradeLens and close the platform already at the beginning of 2023.
membership Maersk and-IBM The “blockchain in shipping” project will be stopped – TradeLens – at the beginning of 2023, thus ending the five-year project of the two companies whose goal was to improve global trade by connecting supply chains in an “authorized only” blockchain network.
Initiative TradeLens Appeared in the “corporate blockchain” era of 2018 as a pretentious effort to make inter-organizational commerce more efficient. The authorized network, which was supposed to include members from the field of shipping companies and freight forwarders, could verify the transaction and the passage of the goods as recorded in a transparent digital register.
The idea was to save money for the shipping companies by connecting the worlds. But the network was only as strong as its participants; Despite some early successes, TradeLens ultimately failed to gain critical mass in its target industry.
Rotem Hershko, head of Maersk’s business platforms:TradeLens Founded according to the bold vision to make a leap forward in the digitization of the global supply chain as an open and neutral industry platform. Unfortunately, while we have successfully developed a viable platform, the need for full global industry collaboration has not been achieved. As a result, TradeLens It did not reach the level of commercial viability necessary to continue the work and meet financial expectations as an independent business.’