TradeLens, the Maersk- IBM blockchain platform, was launched in 2018 to help digitize container shipping on a secure global tracking platform. Had it worked, it would have been a game-changer, cutting down on paperwork to clear customs and offering cargo owners more visibility of their boxes during transit.

In 2018, Walmart partnered with IBM to start tracking its produce items through blockchain. The effort began with leafy greens, and in the four years since has added just one more item: green bell peppers. Walmart said it took time to get buy-in from suppliers who found the onboarding process daunting. Many didn’t have digital record-keeping systems and had to make large upfront investments before they could start using blockchain.

“There used to be a time, 4 years ago, every interview that I would get into, the question was about blockchain and how’s UPS going to use blockchain. Are you guys going to solve all the problems in the world with blockchain?” says a former UPS exec. “It’s been a long time since anyone has asked me about blockchain,” he added. “It never really took off in my world.”