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The Hidden Value of Smart Contracts: Measurability

Nov 2, 2020 1:27:40 PM / by Data Gumbo Team posted in Data Gumbo, Blockchain, Smart Contracts, Thought Leadership

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Most common flaws existing in natural language contracts are remnants of either older contracts that have since evolved or as contrary clauses in contracts that cover interrelated activities. When it comes to smart contracts, coding language requires events, rules and other business logic to be absolutely clear — and this requirement forces many companies to revisit their current contracts with fresh eyes for simplification and clarification.

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Thriving in a Lower Forever Oil & Gas Environment

Oct 8, 2020 10:52:38 AM / by Data Gumbo Team posted in Data Gumbo, Blockchain, Oil & Gas, Smart Contracts

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Oil and gas companies are looking to implement technology to shore up core business processes and accommodate a multitude of consequences currently facing that the industry.

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Blockchain Supports Transparent Execution of Performance Contracts

Jul 14, 2020 9:30:00 AM / by Andrew Bruce posted in Data Gumbo, IADC, Blockchain, Drilling

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Drilling contractors often face an uphill battle when it comes to getting paid based on their daily drilling activities and reimbursable expenses. The average service delivery-to-payment process currently runs 60 days or more, leaving drilling contractors with elongated days sales outstanding (DSO).

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Blockchain Oilfield Pilot Delivers Huge Results to Impact Commodity Transport Performance

Jun 3, 2020 9:50:00 AM / by Data Gumbo Team posted in Data Gumbo, Blockchain, OOC

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Today, the Offshore Operators Committee (OOC) Oil & Gas Blockchain Consortium announced the results of its first blockchain oilfield pilot, which focused on water haulage in the Bakken field. 
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Good Applications for Smart Contracts in Capital Projects

May 27, 2020 10:01:00 AM / by Data Gumbo Team posted in Data Gumbo, Construction, Smart Contracts, Capital Projects

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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.
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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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