Maersk and IBM are winding down their shipping blockchain TradeLens. By early 2023, TradeLens will be no more.
TradeLens was a five year project launched to improve global trade by connecting supply chains on a permissioned blockchain.
TradeLens was born in during the “enterprise blockchain” era of 2018. It helped shipping and freight operators 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 TradeLens ultimately failed to catch on with a critical mass of its target industry.