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Friday, December 16, 2022

Blockchain Fails to Gain Traction in the Enterprise

More on Enterprise Blockchain, Maersk

Blockchain Fails to Gain Traction in the Enterprise

The Wall Street Journal

Isabelle Bousquette, December 15, 2022

Blockchain technology's widespread enterprise adoption has failed to materialize, with a project by Danish shipping company A.P. Moller-Maersk and IBM's TradeLens to create a shipment-tracking platform the latest to be discontinued. Blockchain's complexity, the time needed to get a blockchain running, and problems recruiting participants have stymied major initiatives. IBM's Kathryn Guarini said blockchain demands changes to technology and business models that are difficult to drive forward, adding that enterprise blockchain has taken longer to bring change to business than originally predicted. Some experts maintain smaller projects involving fewer participants, with definite returns on investment and no sector-wide transformative ambitions, could reap greater success.

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