This Could Be the End of Enterprise Blockchain
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While cryptocurrency was always a dubious proposition, in my opinion, the blockchain technology that underlies Bitcoin and the many thousands of other digital tokens held some legitimate promise. A distributed ledger with entries that can't be altered after the fact and with no need for a central authority could conceivably be useful in certain applications.
One of those applications was global trade. The process of moving cargo from one country to another, often through multiple transportation modes, is a nightmare of paperwork and manual processes. In 2018, tech giant International Business Machines (NYSE: IBM) and shipping juggernaut Maersk (OTC: AMKBY) launched TradeLens, a blockchain-based platform, to tackle this problem.
TradeLens scored some early wins. During a trial of the platform prior to its launch, the system effectively reduced transit times in some cases by eliminating tedious steps in the process of moving cargo from source to destination. By mid-2019, five of the world's six largest ocean carriers were using the platform and it was covering more than half of all ocean container cargo. It appeared to be reaching a tipping point.
Source Fool.com
