IBM and Maersk are closing TradeLens by the first quarter next year, after the blockchain-based supply chain service failed to attract enough users to be commercially viable. 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.” Launched in 2018 and jointly developed by IBM and GTD Solution, a division of Maersk, TradeLens aimed to digitize and simplify global supply chains via a electronic shipping ledger that records details of cargo shipments as they leave their origin, arrive in ports, are shipped overseas and eventually received. Where the shipping industry’s traditional style of information sharing relied on outdated electronic data interchange (EDI) systems, email, fax, or courier, TradeLens allowed all involved parties in the supply chain to view tracking information such as shipment arrival times and documents such as customs releases, commercial invoices and bills of lading in near real time via its permissioned blockchain ledger. During its short lifespan, the project built up a network of over 300 members including ocean carriers, terminals, inland depots, customs authorities and intermodal providers. Despite the closure of the platform, the statement on Maersk’s website claims the company will “continue its efforts to digitise the supply chain,” increasing industry innovation to reduce trade friction and promote more global trade. “We will leverage the work of TradeLens as a steppingstone to further push our digitisation agenda and look forward to harnessing the energy and ability of our technology talent in new ways,” Hershko said. Related content feature 8 AI-powered apps that'll actually save you time Most AI apps are buzzword-chasing hype-mongers. These eight off-the-beaten-path supertools are rare exceptions. By JR Raphael Jul 01, 2024 15 mins Generative AI Productivity Software news analysis EU commissioner slams Apple Intelligence delay Margrethe Vestager, Europe's chief gatekeeper, takes a shot at Apple's decision to delay rolling out the company's AI. By Jonny Evans Jun 28, 2024 7 mins Regulation Apple Generative AI how-to Download our unified communications as a service (UCaaS) enterprise buyer’s guide Does your phone system date back to the last century? If so, you’re missing out on new technologies that can increase productivity and support a more distributed workforce. That’s where unified communications as a service, or UCaaS, comes By Andy Patrizio Jun 28, 2024 1 min Unified Communications Enterprise Buyer’s Guides Cloud Computing feature Enterprise buyer’s guide: Android smartphones for business Security is the biggest — but not only — factor when deciding what Android devices to support in your enterprise. See how Google, Honor, Huawei, Infinix, Itel, Motorola, Nokia, OnePlus, Oppo, Realme, Samsung, Tecno, Vivo, and Xiaomi stack By Galen Gruman Jun 28, 2024 23 mins Google Samsung Electronics Smartphones Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe