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Maersk to axe blockchain platform

[ November 29, 2022   //   Chris Lewis ]

AP Moller-Maersk and IBM are to discontinue their TradeLens Blockchain-enabled trade platform. Maersk’s head of business platforms, Rotem Hershko said that while the partners had 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 platform is expected to go offline by end of quarter one, 2023. Maersk will continue its efforts to digitise the supply chain and increase industry innovation through other solutions to reduce trade friction and promote global trade.

Tags: Maersk