In 2018, A.P. Moller-Maersk and IBM announced the creation of TradeLens, a blockchain-based global trade platform. However, the two companies have now announced that they will be withdrawing the TradeLens offerings and discontinuing the platform. The decision was made due to a lack of full global industry collaboration, which has prevented the platform from reaching the level of commercial viability necessary to continue work and meet financial expectations. Maersk has indicated that it will leverage the work of TradeLens as a stepping stone to further digitizing its global operations.