Maersk, IBM Discontinue Shipping Blockchain Platform

Shipping company Maersk said on Tuesday it would discontinue a blockchain platform announced in 2018 in partnership with IBM with the aim of limiting the industry’s costly paper trail.

The platform called TradeLens will be phased out by the end of March next year, Maersk said.

“While we successfully developed a viable platform, the need for full global industry collaboration has not been achieved,” the company said in a statement.

(Reuters – Reporting by Jacob Gronholt-Pedersen; editing by David Evans)