IBM and Maersk are working on building the supply chain based on the blockchain technology. This is actually a well-known fact.
Recently, both the companies revealed that the platform has been signed by over 94 different firms all over the world. They finally gave a name to the platform as well. It is not known by the name of TradeLens.
TradeLens – A future Blockchain based Behemoth:
Tradelens utilizes the experience of Maersk in solving the supply chain-based problems. The company has been in the shipping business for quite some period of time. That is why they have experienced each and every hurdle that can come in the shipping business. That is why the blockchain-based platform actually utilizes their experience in order to come over the hurdles as well.
Currently, the platform is in the pilot stage. However, the early adoption figures are just an indicator of how successful the platform can actually be in the future. Moreover, with 2 such big companies backing up the platform, the traction which the platform will be able to get will be pretty huge.
The companies are planning to launch the platform by the end of this very year. This will ensure that more and more companies are able to use the platform for a longer period of time. Moreover, the entire features of the platform will be open up to the companies as well which will actually help them in running their business model especially the supply chain based systems.
Since the platform will be based on the blockchain technology, scalability will not be a problem. Even if 10 times more companies join the platform, it will not impact the quality of services which are provided by the platform. That is why the supply chain Ecosystem is pretty robust. Also, both the companies are looking to add newer and newer features to the platform as well. With the help of these newer features, commercial users will be able to utilize the platform in multiple ways. If that is made possible, the scalability of the platform can increase significantly. This will not necessarily mean that the load of the platform also increases. As a result, it will become much easier for the companies to utilize the features of the platform. This is one of the main reasons why it holds such a lot of promise.
Maersk and IBM seem to have got it right in their very first attempt. It remains to be seen how much traction the platform gains once the commercial launch happens.
