Four years after IBM and Maersk first unveiled TradeLens, the companies have announced they will be withdrawing TradeLens offerings and will discontinue the blockchain-based supply chain platform.
The platform will go offline by the end of the first quarter in 2023. Apparently the platform did not attract enough users to be commercially viable.
“The need for full global industry collaboration has not been achieved,” said Rotem Hershko, head of business platforms at A.P. Moller – Maersk, in a statement posted on Maersk’s website. “TradeLens has not reached the level of commercial viability necessary to continue work and meet the financial expectations as an independent business.”