TLDR: IBM and Maersk have announced the closure of their blockchain-based trading platform, TradeLens, due to a lack of industry collaboration. TradeLens had been developed to digitize and simplify global supply chains, but had not achieved the commercial viability needed to continue operating. IBM and Maersk had sought to streamline global supply chains by digitizing the exchange of information in the shipping industry, but had struggled to attract other carriers. Despite its closure, Maersk intends to continue efforts to digitize the supply chain and increase industry innovation.