Data Gumbo Blog

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

Apr 8, 2020 8:30:57 AM / by Data Gumbo Team posted in Blockchain, Blog, Transportation, Supply Chain

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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 to and from the site of production, typically in poor conditions over risky or remote roads. In U.S. operations alone, the produced water market is worth an estimated $33.6 billion

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Know and Crush OPEX Using Blockchain

Apr 6, 2020 12:51:35 PM / by Data Gumbo Team posted in Blockchain, Blog, Oil & Gas, Opex

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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. 

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Increase Free Cash Flow in Production Operations

Mar 27, 2020 5:27:28 PM / by Data Gumbo Team posted in Blog

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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.

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How Smart Contracts are Changing Legal Contracts

Mar 17, 2020 8:45:00 AM / by Data Gumbo Team posted in Blog

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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. 

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Exploring the Future of Industrial Blockchain

Mar 10, 2020 8:30:29 AM / by Data Gumbo Team posted in Blog

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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.

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Data Gumbo: Year In Review

Dec 24, 2019 2:40:00 PM / by Data Gumbo Team posted in Data Gumbo, Blog

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As 2019 comes to a close, Data Gumbo is proud to reflect on all that unfolded this past year. We witnessed significant traction over the last 12 months including a $6 million series A funding round in May, adoption by major oil & gas companies and expansion into the construction vertical.
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Capital Projects Streamlined with Smart Contracts

Dec 19, 2019 2:51:00 PM / by Data Gumbo Team posted in construction, Project Management, Capital Projects

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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 where the automation and tracking capabilities of blockchain and smart contracts can begin to shine, and save owners millions of dollars on their capital projects.

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How Smart Contracts are Reducing Inefficiencies in Construction

Dec 12, 2019 3:08:00 PM / by Data Gumbo Team posted in construction, Smart Contracts, Capital Projects

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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 face of technology advances adopted by other industries.

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When Databases Aren't The Right Tool For The Job

Nov 12, 2019 6:00:00 AM / by Data Gumbo Team posted in big data, Blockchain

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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.
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Is Your Upstream Process Ready to Automate?

Nov 7, 2019 4:13:00 PM / by Data Gumbo Team posted in Blockchain, Oil & Gas

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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?
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