The Fly

IBM, Maersk to discontinue blockchain-enabled supply chain project TradeLens

Maersk (AMKBY) and IBM (IBM) announced the decision to withdraw the TradeLens offerings and discontinue the platform. Rotem Hershko, Head of Business Platforms at A.P. Moller – Maersk, said in a statement: "TradeLens was founded on the bold vision to make a leap in global supply chain digitization as an open and neutral industry platform. Unfortunately, while we successfully developed a viable platform, the need for full global industry collaboration has not been achieved. As a result, TradeLens has not reached the level of commercial viability necessary to continue work and meet the financial expectations as an independent business." The TradeLens team is taking action to withdraw the offerings and discontinue the platform, and the intent is that the platform will go offline by end of quarter one, 2023. During this process all parties involved will ensure that customers are attended to without disruptions to their businesses. The TradeLens platform was announced in 2018 and jointly developed by IBM and GTD Solution, a division of Maersk, as a blockchain-enabled shipping solution designed to promote more efficient and secure global trade. Reference Link

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