Maersk, IBM To Discontinue Blockchain JV TradeLens

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Credits: Noel Broda/Unsplash

A.P. Moller – Maersk and IBM are shutting down their blockchain-enabled global trade digitization platform, TradeLens, after the solution failed to reach commercial viability, reads an official release.

Rotem Hershko, head of business platforms at A.P. Moller – Maersk, justified the decision in a statement by noting: “TradeLens has not reached the level of commercial viability necessary to continue work and meet the financial expectations as an independent business.”

The companies started to “withdraw offerings and discontinue the platform” on Tuesday, with the goal of fully taking the solution offline by the end of Q1 2023.

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Source: Maersk

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