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IBM's New Blockchain Problem: Maersk-Backed Shipping Effort Is Struggling

Published 10/26/2018, 12:00 PM
Updated 10/26/2018, 01:15 PM
© Reuters.
IBM
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It's hard enough to get enterprises that compete with each other to work together as a team, but it's especially tricky when one of those rivals owns the team.

Shipping giant Maersk and tech provider IBM (NYSE:IBM) are wrestling with this problem with TradeLens, their distributed ledger technology (DLT) platform for supply chains.

Some 10 months ago, the project was spun off from Maersk (the largest container shipping company on the planet) into a joint venture with IBM. But in that time the network has enticed only one other carrier onto the platform: Pacific International Lines (PIL), one of eight shipping lines in Asia and 17th in the world based on cargo volumes.

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