Data Gumbo Blog2020-05-06T00:10:12+00:00

All Posts

Good Applications for Smart Contracts in Capital Projects

No industry is perfect.  Each is plagued by its own unique set of circumstances — or incentives for tech opportunists. In the capital project industry, a broad term enveloping building and infrastructure projects and investments, there are three major areas of informational and transactional friction that severely hamper progress. These inefficiencies include administrative drag, [...]

By |May 27th, 2020|

Poor Change Management is the Enemy of Blockchain Adoption

You can’t design the future — but you can design for the future you want. Merrill “Pete” Miller, ex-CEO and chairman of National Oilwell Varco, has said that when redesigning or changing company processes, you should imagine the future you want, then build a bridge back to where you are. In today’s world, one of those [...]

By |May 21st, 2020|

Data Gumbo Honored as Gold Stevie® Award Winner

Data Gumbo, the trusted transactional blockchain network for tomorrow’s industrial leaders, was named the winner of a Gold Stevie® Award in the Blockchain Solution category in the 18th Annual American Business Awards® today. “We are pleased to take top honors for our blockchain network GumboNet™, and appreciate the judges’ comments regarding the strong demand [...]

By |May 18th, 2020|

The Future of Oil and Gas is on the Blocks

With anything blockchain, there’s a hedging for adoption and the oil & gas industry is no different. Companies often skirt the first position and instead search for safety in numbers when it comes to taking up innovative technologies. Like a school of fish in need of camouflage, straying ahead to lead the charge comes [...]

By |May 11th, 2020|

Blockchain’s Year Ahead: A Brighter Future

Industry has long been easily excited about concepts from virtual and augmented reality (VR/AR) to autonomous vehicles, wearable technology to chatbots and drones, the list goes on. After innovations emerge, the pattern after much debut hype, is to go underground into pilot programs until the market achieves tangible validation. If 2019 was the year [...]

By |April 28th, 2020|

Exploring Blockchain in Energy with the Atlantic Council

With major oil & gas players revealing programs to cut emissions — like BP publicly pledging to eliminate or offset all emissions by 2050 or other big producers pledging drastically new emission targets — there is little to no information about how these companies intend to achieve these goals.   To reduce the carbon footprint [...]

By |April 23rd, 2020|

Oil & Gas Beyond the ‘Corona Crisis’: Predicting Industry Outcomes 

The American oil market crashed below $0 a barrel this week; an unprecedented historical low.  The “stage set for a ‘most uncertain’ future,” was already indicated by early earnings. With a precipitous 60% price drop since January, flatlining this week and even dipping into negatives, oil & gas companies across the board are cutting [...]

By |April 21st, 2020|

GumboNet™ Wins 2020 Hart Energy’s Meritorious Award for Engineering Innovation

Data Gumbo’s blockchain-based network, GumboNet™, has been named as an “Intelligent Systems” winner by E&P magazine in their 2020 Meritorious Awards for Engineering Innovation (MEAs). Hosted annually by Hart Energy, producer of award-winning monthly magazines including Oil and Gas Investor and E&P, the awards honor engineering excellence and achievement in the upstream petroleum industry. [...]

By |April 16th, 2020|

Houston Innovation Map Talks Growing Houston Company

After expanding into the Asian market last month, a Houston blockchain startup has grown its C-suite with the addition of a chief commercial officer to lead its sales team. Data Gumbo Corp. has brought Bill Arend onto its team. Arend brings over 20 years of experience in software sales from the likes of Workday, Oracle. and Microsoft. [...]

By |April 15th, 2020|

Data Gumbo Hires Enterprise Software Veteran as Chief Commercial Officer

Data Gumbo announced today that it has hired Bill Arend as Chief Commercial Officer to lead its growing sales team. With over two decades of experience in enterprise software sales at Workday, Oracle and Microsoft, Arend joins Data Gumbo at a critical juncture to assist companies, customers, vendors and suppliers across the industrial spectrum [...]

By |April 14th, 2020|

Why You Can’t Afford Not to Use Blockchain in Commodity Transportation

Commodities production and transportation is a complex chain of events that involves multiple parties, volume measurements and transactions for each unit moved. In oil & gas, crude oil and its derivatives, water and other natural resources like sand and natural gas, are critical components to the production of energy. Each resource must be moved [...]

By |April 8th, 2020|

Know and Crush OPEX Using Blockchain

More companies today are implementing blockchain technology to apply smart contracts across commodities transport to capture efficiencies and cost savings. By automating payments between the network of intermediaries necessary to move a commodity end-to-end from production, participants can increase access to free cash flow, a must in today’s market climate.  But beyond providing visibility, [...]

By |April 6th, 2020|

Prescient Taps Data Gumbo to Transform Insurance Underwriting in Marine & Energy

Today Data Gumbo announced that Prescient Underwriting Management & Associates (PUMA), a marine and energy risk management and insurance underwriting operation, is utilizing Data Gumbo’s blockchain-based network, GumboNet™, to power its risk transfer platform. With GumboNet, Prescient will enhance its insurance offerings with the cost savings and truth immutability inherent in blockchain transactions. Additionally, [...]

By |April 2nd, 2020|

Increase Free Cash Flow in Production Operations

Right now, it’s imperative for oil & gas companies to reduce operating expenses (OPEX) and save cash. With recent oil prices in a four-week free fall, down 60% since the start of the year, further job losses, bankruptcies and consolidations are unfolding. When oil prices decline, operators buckle down and focus on operational efficiencies [...]

By |March 27th, 2020|

How Smart Contracts are Changing Legal Contracts

While a world free of lawyers will most likely never come to fruition (to many parties’ chagrin), new technology in the form of smart contracts is changing how legal matters are drafted. Evidenced by increased adoption for major industrial applications with the OOC Oil & Gas Blockchain Consortium, a powerful network of 10 major oil [...]

By |March 17th, 2020|

Data Gumbo Enters Indonesian Energy Market with Air Drilling Associates’ Adoption of GumboNet™, First Use of Blockchain in Geothermal Energy Drilling

Data Gumbo Corp., the trusted transactional blockchain network for tomorrow’s industrial leaders, today announced Air Drilling Associates (ADA), a leading provider of specialized drilling and project management services to the petroleum and geothermal drilling industry, has adopted GumboNet™, the company’s massively interconnected blockchain network. ADA will tap GumboNet to automate execution and invoice payments of [...]

By |March 11th, 2020|

Exploring the Future of Industrial Blockchain

Now that we are almost a quarter of the way into the new year, numerous articles have ventured guesses at blockchain’s future. By the looks of it, the months ahead are chock full of hype, hope and hard facts demonstrating blockchain’s power as a tool for radical industry transformation. Recent Perspectives The World Economic [...]

By |March 10th, 2020|

Blockchain ‘Genie’ Spreading Offshore

Offshore oil and gas players are increasingly adopting blockchain-based 'smart contracts,' according to a Houston-based tech entrepreneur. “A blockchain is an immutable data record – called ‘blocks’ – that are linked together as entries in a distributed ledger,” Andrew Bruce, CEO and founder of DataGumbo Corp., whose “GumboNet” blockchain platform enables operating companies, service [...]

By |March 6th, 2020|

Data Gumbo Joins Blockchain in Transport Alliance

Data Gumbo Corp., the trusted transactional blockchain network for tomorrow’s industrial leaders, announced today on FreightWaves that it has joined the Blockchain in Transport Alliance (BiTA), an organization dedicated to determining best practices and standards for blockchain in the transportation industry. BiTA members include Descartes, Daimler, FedEx, SAP and Uber Freight, among dozens of other global [...]

By |March 5th, 2020|

Data Gumbo CEO Talks Power of Blockchain for Energy Industry at CERAWeek 2020 

Update: Due to growing concerns about COVID-19 coronavirus, IHB Markit has decided to cancel CERAWeek. Please read full announcement here. - Today Data Gumbo announced that Founder and CEO Andrew Bruce will be speaking at CERAWeek by IHS Markit, one of the world’s premier energy events, the week of March 9-13 in Houston.  Topic: [...]

By |February 26th, 2020|

Data Gumbo Among Houston Innovation Map’s Innovators To Know

For so many Houston innovators, 2020 will be a year of growth, execution, proof of concept, piloting, pivoting, fundraising, and more. It's hard to narrow down the list of movers and shakers in Houston, but a few have stood out for making waves in the new year. From M&A action to the development of [...]

By |January 22nd, 2020|

Data Gumbo CEO Named a 2020 Energy Innovator by E&P Magazine

Exploratory & Production Magazine (E&P) recently named Data Gumbo CEO Andrew Bruce a 2020 Energy Innovator in its January issue.  This annual program spotlights industry thought leaders nominated by a circle of peers and colleagues invested in advancing oil & gas.  As a serial entrepreneur with more than two decades of experience in [...]

By |January 16th, 2020|

Capital Projects Streamlined with Smart Contracts

By Scott Greer, Michael Matthews and Gregg Jacobson Thousands of cubic yards of concrete, miles of wiring and pipe, and tons of steel: All of it has to be procured, tracked, delivered, installed, inspected and commissioned pursuant to the terms of the  contract. This is when the costs begin to rapidly accumulate. And this is [...]

By |December 19th, 2019|

Data Gumbo Partners with Cobbs Allen to Insure Blockchain-Based Smart Contracts

Yesterday Data Gumbo announced a partnership with Cobbs Allen, a national independent agency focused on risk management in niche practice groups. Though the partnership, Cobbs Allen will represent Data Gumbo in the insurance market, creating a safeguard for error and omission occurrences in the data or operations of any blockchain-based smart contract. “Partnering with Cobbs [...]

By |December 18th, 2019|

How Smart Contracts are Reducing Inefficiencies in Construction

By Michael Matthews, Industry Principal, Data Gumbo   The construction industry notoriously lags in productivity improvements and technology adoption. Its sluggish pace results in billions of dollars in lost value – approximately $40 billion a year. One underlying cause of this lagging performance is the way the industry develops complex physical assets, a process that has essentially remained unchanged in the [...]

By |December 12th, 2019|

Data Gumbo Receives Frost & Sullivan 2019 Technology Innovation Award

This week Frost & Sullivan, a business consulting firm involved in market research and analysis, and growth strategy consulting, held its annual Growth, Innovation & Leadership Gala. The event was held in San Antonio, Texas, at the JW Marriott Hill Country Resort & Spa. Data Gumbo’s CEO Andrew Bruce attended, along with Chief Product [...]

By |December 5th, 2019|

Data Gumbo Adds Murphy Oil Alumna as Financial Controller

We are excited to announce that experienced finance professional Meghan McGee has joined the Data Gumbo as Financial Controller to manage financial reporting, planning and analysis. “Meghan’s extensive knowledge in oil & gas lends a unique perspective and deep understanding to our customers,” said Andrew Bruce, CEO of Data Gumbo. “We are thrilled to [...]

By |November 26th, 2019|

Houston is Key Blockchain Player

Last week, Innovation Map doubled-down that Houston's well-positioned for all things blockchain. In conjunction with Deloitte’s 2019 Global Blockchain Survey, Innovation Map once again named Data Gumbo as a company to watch creating innovative business models.  Deloitte’s report surveyed 1,386 senior executives at mid-size businesses and 31 companies that currently facilitate blockchain implementation and [...]

By |November 21st, 2019|Tags: , , |

Data Gumbo Appoints Capital Projects Expert for Expansion into the Construction Industry

Construction industry veteran Michael Matthews hired as Industry Principal to bring world-class expertise in streamlining capital projects to maximize performance and efficiency GumboNet™ blockchain network directly takes on the construction industry’s lagging productivity through automating contracts, accelerating payments, reducing financing charges and providing a single source of truth across project participants Michael Matthews [...]

By |November 14th, 2019|Tags: , , |

When Databases Aren’t The Right Tool For The Job

News of massive data breaches have become commonplace as behemoths — like Facebook and Capital One amid other household names — continue to experience attacks. The truth of the matter is that data breaches won’t likely become a symptom of the past, even with new forms of technology emerging. Aggregating data and making it [...]

By |November 12th, 2019|Tags: , , , |

Is Your Upstream Process Ready to Automate?

So, you’ve derisked blockchain in upstream oil & gas and decided the technology can provide benefits for your operation. Now what do you do? Is your upstream process ready to automate? Can you implement a blockchain solution for the most contentious, time-consuming well drilling and delivery processes to garner benefits? 1. Find your upstream [...]

By |November 7th, 2019|Tags: , , |

How Much Profit is Your Back Office Leaving on the Table?

Where Invoices Go To Die Many business managers quietly admit that they are under continuous pressure to cut administrative expenses. Their admonitions often remind me of one of my early employment experiences. Years ago, I worked for a large media company and in my role, I dealt with many of our vendors and subcontractors. [...]

By |October 31st, 2019|

Don’t Fall for These 7 Common Blockchain Myths

There's plenty of bad information around the application of B2B blockchain. Several of the most common myths perpetuated in the blockchain environment include: Myth 1: All blockchains are public and vulnerable Myth: Bitcoin or Ethereum-based blockchains are public and susceptible to attacks. This vulnerability is based on blockchain's unrestricted access to anonymous actors. Truth: [...]

By |October 28th, 2019|

Blockchain Consortium Awards Data Gumbo First Contract to Implement a Blockchain Pilot

HOUSTON, Texas — September 12, 2019 — Data Gumbo Corp., a Houston-based technology company that has developed the blockchain-as-a-service (BaaS) platform GumboNet™ to streamline smart contracts for oil & gas, today announced that the Offshore Operators Committee (OOC) Oil & Gas Blockchain Consortium has awarded the company its first contract to implement a pilot [...]

By |September 11th, 2019|

Murphy Global Logistics Implements Data Gumbo Blockchain for Smart Contracts in Commodities Freight

• Data Gumbo’s blockchain network GumboNet™ automates contract executions and payments, freeing the international shipping chain from reliance on outmoded spreadsheets, email and fax • Murphy’s 180 global clients gain real-time transparency into global shipment tracking; supply chain counterparties experience reduced disputes, and faster invoices and payments • Commodities shipping company gains cost-savings and [...]

By |September 5th, 2019|

Data Gumbo Hires New Vice President of Product Delivery

Maria Onufrow, Experienced Professional in Software Development for the Energy Industry, Joins the Growing Blockchain-as-a-Service, Oil & Gas Smart Contracts Company Houston, TX -- August 20, 2019 -- Data Gumbo Corp., a Houston-based technology company that has developed a Blockchain-as-a-Service (BaaS) platform to streamline smart contracts management for industrial customers, today announced the hiring [...]

By |August 21st, 2019|

Antelope Water Management Taps Data Gumbo’s Blockchain Network for Oil & Gas Smart Contracts

Data Gumbo Corp., a Houston-based technology company that has developed a blockchain-as-a-service (BaaS) platform to streamline smart contracts for oil & gas, today announced Antelope Water Management, the Austin-based company providing sustainable water solutions for the extractive industries in oil & gas, has adopted Data Gumbo’s blockchain network GumboNet™. This is the industry’s first [...]

By |August 15th, 2019|

Data Gumbo Honored by Frost & Sullivan with Technology Innovation Award for Smart Contracts

Read the full report on the Frost & Sullivan Award Here Global industry research firm Frost & Sullivan recognizes Data Gumbo for its advancements in bringing unparalleled levels of accuracy and efficiency to the oil and gas industry supply chain based on its blockchain technology for smart contracts, generating trust among parties and accurately [...]

By |August 7th, 2019|

SOC 1 Type 1 Audit for Platform Security

Data Gumbo emphasizes commitment to customers to provide secure blockchain-as-a-service platform with completion of SOC 1 Type 1 audit. HOUSTON--(BUSINESS WIRE)--Data Gumbo Corp., a Houston-based technology company that has developed a Blockchain-as-a-Service (BaaS) platform to streamline smart contracts management for industrial customers, today announced successful completion of the SOC 1 Type1 audit examination of [...]

By |July 22nd, 2019|Tags: , |

Data Gumbo on Bloomberg TV

Our CEO @AndrewBruce talks with @AlixSteele about automating contract execution in the oil industry with the Data Gumbo blockchain. Synchronizing the contract, IoT sources of truth and payments with a distributed ledger is such a compelling utility for companies that the speed of adoption has surprised even #DataGumbo. Contact us about using Data Gumbo to automate [...]

By |July 19th, 2019|

Series A Funding: $6M Secured from Oil & Gas Firm

Houston, TX -- May 7, 2019 -- Data Gumbo Corp., a Houston-based technology company that has developed a Blockchain-as-a-Service (BaaS) platform to streamline smart contracts management for industrial customers, announced today completing a $6M Series A equity funding round co-led by Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology [...]

By |May 7th, 2019|

D2 Review: Not Just a Random Walk…

We received great feedback on our D2 conference last week. Objectively, we performed well - ~400 people showed up to occupy the halls of the Hilton Americas (+70% from last year), all the speakers were present and articulate, and we finished on-time (a rarity in the conference world).  But what separates a good conference [...]

By |October 18th, 2018|

Data Gumbo Named Most Promising Energy & Clean Technology Company

Data Gumbo was named Most Promising Energy and Clean Technology Company at the 16th Annual Rice Alliance Energy & Clean Technology Venture Forum in Houston this week. The Rice Alliance for Technology and Entrepreneurship hosted the event and more than 90 companies showcased their new offerings at the largest energy venture capital conference in [...]

By |September 18th, 2018|

Data Gumbo Corporation has raised $1.35MM for its Seed round

The Seed garnered significant investor interest and was oversubscribed by $300k. The Houston-based Blockchain as a Service company is led by its CEO, Andrew Bruce. Andrew was a former executive at National Oilwell Varco and MHWirth and is a serial entrepreneur. Andrew says his vision for Data Gumbo is to create transparent and automated [...]

By |August 25th, 2018|

Drilling Contractor Magazine: Data Gumbo Featured Jul-Aug Issue

Data Gumbo is mentioned in the July-Aug issue of Drilling Contractor Magazine. "Blockchain, on the other hand, refers to the architecture that lies underneath Bitcoin; in essence, there is no Bitcoin without blockchain, but blockchain can exist without Bitcoin. This fact is important, said Andrew Bruce, President and CEO of Data Gumbo, because he [...]

By |August 1st, 2018|

TPH Company Spotlight: Data Gumbo and Diamond Offshore

This week, Tudor, Pickering, Holt & Co (TPH) is featuring Data Gumbo in TPH Energy Tech Research Company Spotlight On June 25, 2018, Diamond Offshore and Data Gumbo announced the launch of their Blockchain Drilling Service, a software that will be layered on Diamond Offshore's existing rigs to monitor rig activities and accompanying critical [...]

By |July 18th, 2018|

Diamond Offshore Launches Blockchain Drilling™ Service

· First-of-its-kind cloud-based solution facilitating 24/7 access to well construction activities and progress · Applying industrial blockchain technology to offshore drilling that reduces the total cost of ownership (TCO) · Scalable and adaptive, enabling the deployment of customized modules for the comprehensive planning, tracking and reporting of the well construction value chain HOUSTON, June [...]

By |June 25th, 2018|

Application of Industrial Blockchain in the Completions Segment of Oil & Gas

Data Gumbo, a Houston based Blockchain as a Service (BaaS) startup, announces its entrance into the completions segment of upstream oil & gas. “With several strategic hires and use cases in progress we are really excited to be forging ahead in this space” said Andrew Bruce, Data Gumbo’s Founder and CEO. “We believe the [...]

By |April 6th, 2018|

Blockchain Smart Contracts are Creating the Commercial Internet

I was recently asked whether I think blockchain will be revolutionary for industry. My answer is an overwhelming yes! I’m referring, in particular, to the smart contracts portion of blockchain. They change everything. TCP/IP is a simple network protocol, but it is the basis for the internet. Blockchain smart contracts are simple design concepts [...]

By |February 8th, 2018|

Ove Sandve joins Data Gumbo as Chief Technology Officer

Ove Sandve joined Data Gumbo as Chief Technology Officer, this month. His move in to the new office space in Stavanger, Norway, on a crisp, sunny morning, is sign of great things to come for Data Gumbo AS. Ove will lead up development of Data Gumbo products. He will grow and strengthen Data Gumbo [...]

By |February 6th, 2018|

Discussion on Cyber Security and Blockchain

IADC hosted a discussion on Cyber Security and Blockchain - tune in at 21:44 to hear from Andrew Bruce about how and why we chose blockchain smart contracts to solve the trust issue around performance contracts in our industry. "When you've finished laughing, let's have a discussion".

By |January 11th, 2018|

William Fox Joins Data Gumbo as COO

William is based in Data Gumbo's Houston office and is responsible for delivering on customer commitments. "Given Data Gumbo's recent successes, it makes sense to hire a COO. William is an experienced executive and will make an excellent addition to our team," said Andrew Bruce, CEO of Data Gumbo. Data Gumbo has recently signed [...]

By |November 2nd, 2017|

Blockchain technology may contribute to drilling data sharing

Andrew Bruce, Data Gumbo CEO and Robin MacMillan, Chairman at IADC ART Committee, at IADC’s conference last week in Holland. Improving the industry, one step at a time. In the video, Andrew describes how blockchain technology may contribute to evolution of drilling data sharing. Read the Drilling Contractor article here. Also, read Mr Bruce’s [...]

By |October 31st, 2017|

Data Gumbo announces new Smart Contract for Independent O&G

Operators and contractors alike are referring to Data Gumbo as the 'Honest Broker'. By providing a trusted Smart Contract platform, Data Gumbo removes the manual processes and litigation from transactions. Operator and Contractor agree on a set of performance metrics with incentives for improvement, calculated daily. Data Gumbo consumes the relevant data, calculates the [...]

By |October 4th, 2017|