Maersk and IBM to discontinue TradeLens following lack of industry collaboration

Maersk and IBM have announced the decision to withdraw the TradeLens offerings and discontinue the blockchain-based platform, citing a failure to achieve full global industry collaboration.

Rotem Hershko, head of business platforms at A.P. Moller – Maersk, said: “TradeLens was founded on the bold vision to make a leap in global supply chain digitisation 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.”