The blockchain for naval shipments of IBM and Maersk sinks

Enthusiasm towards blockchain that has characterized the last few years seems to be at the end of the line. In 2018 IBM And Maerskone of the largest shipping operators, had announced the launch of TradeLens, a solution for supply chain management using the blockchain. The companies have now announced their closure, citing lack of interest from the market.

Too calm for the IBM and Maersk blockchain

TradeLens aimed to digitize and streamline global supply chains by using blockchain to record the movement of goods via cargo ships. The intent was to record the various steps of the shipments, and the related documents such as customs, on the blockchain, so as to simplify their visualization and certify their validity.

The world of shipping does not seem to have welcomed this novelty with open arms and continues to make use of data exchange systems, emails, faxes or packets of documents sent by courier. In all, the TradeLens project has achieved about 300 customers over time: too few to continue its activities. “TradeLens has not achieved the level of commercial viability necessary to continue work and meet financial expectations as an independent business”, reports the Maersk site.

So here is that TradeLens will close by the end of the first quarter of 2023. It could be said that this use of the blockchain was leaking from all sides, as often happens indeed, but it would perhaps be ungenerous on our part. Perhaps the problem is simply that, to stay in the naval field, it was a matter of a second Vasa.