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Maersk, the largest shipping container company in the world, has made the bold step towards creating a blockchain-enabled platform called TradeLens to transform the shipping industry. However, until now, only a single sender has signed up to use the platform, and it is my opinion that few others will join. Although the concept is natural to the blockchain, the business model threatens to destroy the project.
Maersk and IBM have created the joint venture that owns TradeLens (including the intellectual property of the platform), and there is the problem: since Maersk is the owner of the joint venture, it will benefit from an advantage not shared by the other participants on the blockchain platform. That is, Maersk will be enriched by the growth of the actual platform of TradeLens, while the other participants in the network will not.
Why Maersks competitors want to use a technological platform (and novice!) Which would enrich its biggest competitor? & Nbsp;
There are fantastic benefits from a blockchain enabled shipping platform: cost savings, reduced errors, increased profits, etc. However, these benefits can not exceed the undeniable reality of Maersk's competitors: joining the TradeLens network means making Maersk more profitable.
Another obvious problem is that Maersk owns the intellectual property on which the TradeLens platform is built. Even supposing that security measures are put in place (to ensure that Maersk or his agents do not take advantage of the advantage unduly), the optics are terrible.
It has been argued that a rising wave raises all container ships. Here, Maersk has the opportunity to raise all container ships on the sea. But it will require Maersk to put itself on an equal footing with the alleged participants of the TradeLens platform. In other words, Maersk will have to disengage from the intellectual property of TradeLens, as well as the profit motive associated with the growth of the TradeLens platform. This would address the objections of Maersks' competitors on the exclusive competitive advantage of Maersk as the owner of the TradeLens platform and, in doing so, improve the chances of success of TradeLens.
This same problem will continue to be repeated in other contexts involving companies, until and unless the question of control and ownership of the platform (and of the underlying intellectual property) is dealt with satisfactorily. Blockchain technology for companies requires new business models. In this case, Maersk should develop a model to share the profit among the network participants (after recovering his investment), rather than taking advantage of his first operator advantage. Obviously, understanding how the new business model should be will be complicated. But it must be done.
And who will win as a result?& Nbsp; Certainly Maersk, its competitors and all the others in the ecosystem of the expedition, besides all of us, the company. We will benefit from a smarter, safer and more efficient shipping industry. We hope that Maersk understands it and is quick.
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Maersk, the largest shipping container company in the world, has made the bold step towards creating a blockchain-enabled platform called TradeLens to transform the shipping industry. However, until now, only a single sender has signed up to use the platform, and it is my opinion that few others will join. Although the concept is natural to the blockchain, the business model threatens to destroy the project.
Maersk and IBM have created the joint venture that owns TradeLens (including the intellectual property of the platform), and there is the problem: since Maersk is the owner of the joint venture, it will benefit from an advantage not shared by the other participants on the blockchain platform. That is, Maersk will be enriched by the growth of the actual platform of TradeLens, while the other participants in the network will not.
Why Maersks competitors want to use a technological platform (and novice!) Which would enrich its biggest competitor?
There are fantastic benefits from a blockchain enabled shipping platform: cost savings, reduced errors, increased profits, etc. However, these benefits can not exceed the undeniable reality of Maersk's competitors: joining the TradeLens network means making Maersk more profitable.
Another obvious problem is that Maersk owns the intellectual property on which the TradeLens platform is built. Even supposing that security measures are put in place (to ensure that Maersk or his agents do not take advantage of the advantage unduly), the optics are terrible.
It has been argued that a rising wave raises all container ships. Here, Maersk has the opportunity to raise all container ships on the sea. But it will require Maersk to put itself on an equal footing with the alleged participants of the TradeLens platform. In other words, Maersk will have to disengage from the intellectual property of TradeLens, as well as the profit motive associated with the growth of the TradeLens platform. This would address the objections of Maersks' competitors on the exclusive competitive advantage of Maersk as the owner of the TradeLens platform and, in doing so, improve the chances of success of TradeLens.
This same problem will continue to be repeated in other contexts involving companies, until and unless the question of control and ownership of the platform (and of the underlying intellectual property) is dealt with satisfactorily. Blockchain technology for companies requires new business models. In this case, Maersk should develop a model to share the profit among the network participants (after recovering his investment), rather than taking advantage of his first operator advantage. Obviously, understanding how the new business model should be will be complicated. But it must be done.
And who will win as a result? Certainly Maersk, its competitors and all the others in the ecosystem of the expedition, besides all of us, the company. We will benefit from a smarter, safer and more efficient shipping industry. We hope that Maersk understands it and is quick.
