IBM, Maersk will shut down TradeLens supply chain platform • The Register
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"IBM and Maersk's TradeLens, a blockchain-based platform for streamlining their supply chain, did not work out" is the title of the article, but the reason for the failure seems to be that although it was technically feasible, there was no incentive to do it together. Was it because of unit economics not matching?
The project with the shipping giant was seen as an ideal use case for blockchain, but was not embraced by the industry.
IBM and shipping giant Maersk have confirmed they will shut down their blockchain-based transaction platform, designed to simplify and digitize global supply chains, and say the goal of full global industry cooperation was not achieved.
Launched in 2018, TradeLens was a blockchain-enabled shipping platform designed to facilitate more efficient and secure world trade, jointly developed by IBM and Maersk's GTD Solutions division with the aim of promoting more efficient and secure world trade.
"Unfortunately, while we have succeeded in developing a viable platform, the need for full global industry cooperation has not been achieved."As a result, TradeLens said it has not reached the level of commercial viability necessary to continue as an independent business and meet financial expectations.