How TradeLens Delivers Business ValueWith Blockchain Technology

Proof-of-concept and prototype blockchain initiatives have been attracting widespread attention to the commercial use of this technology. As of 2018, however, there were very few examples of blockchain technology being deployed in live operational solutions in a way that delivers business value.3 This article describes the TradeLens solution, which includes blockchain technology for key participants in the global container shipping industry. We trace TradeLens’ journey from initial prototypes, to pilots, to live deployment, to commercialization. Five of the six largest container shipping carriers have signed up with TradeLens, which between them account for more than half of the world trade transported by the global supply chains that rely on container shipping. TradeLens is extending the scope of its services beyond maritime shipping toward the ends of the supply chains by engaging shippers, governmental authorities, and other service providers. Although TradeLens still has a long way to go in terms of reaching a critical mass of users, it has been deployed and is ready to start delivering business value. TradeLens is a broad technological solution, in which blockchain technology plays a key role in enabling the trusted exchange of information between players in the container shipping industry. TradeLens is designed to provide information to authorized participants in a supply