Data Gumbo Corp., a Houston-based know-how firm that has developed a blockchain-as-a-service (BaaS) platform to streamline good contracts for oil & fuel, is now working with Antelope Water Administration, the Austin-based firm offering sustainable water options for the extractive industries in oil & fuel, who has adopted Data Gumbo’s blockchain community GumboNet.
“As an built-in water administration firm within the Permian Basin offering tailor-made administration companies for water infrastructure, we stay up for incorporating Data Gumbo into every of our enterprise models,” stated Dustin Brownlow, CEO of Antelope. “Data Gumbo is a game-changer enabling us to supply prospects, distributors and regulators with the perfect expertise that good contracts can provide. We’re excited so as to add transparency to our operations whereas eradicating pointless bills and duplications of efforts to eradicate incorrect information and DSOs by Data Gumbo’s blockchain for all stakeholders.”
That is the business’s first use of a blockchain platform for whole water administration companies in US shale performs. Antelope will faucet the ability of GumboNet to supply prospects and distributors throughout its water infrastructure, remedy, sourcing and disposal companies with real-time information transparency, and automation of contract executions and funds.
“Data Gumbo was the primary blockchain in offshore drilling and now we’re the primary in oil & fuel water administration. We anticipate persevering with to interrupt floor throughout the business as corporations understand the huge advantages we afford them equivalent to safety, the understanding of information and, most of all, financial savings to the underside line,” stated Andrew Bruce, CEO of Data Gumbo.
GumboNet insights permit all of Antelope’s prospects and distributors in a transaction to make certain of immutable information and measurement accuracy for assured and safe transactions. Antelope’s stakeholders and native regulators will profit from the info certainty to decrease overhead prices, scale back excellent funds between events, and guarantee information certainty for all enterprise transactions.
Antelope’s deployment strikes Data Gumbo into the Permian Basin, the most important producing oil subject on the planet and into one other sector of oil & fuel — whole water administration. Antelope’s prospects will for the primary time be capable to derive profit from self-executing contracts on a safe blockchain platform catering to advanced, 24-hr operations with out the necessity for handbook oversight.
Data Gumbo’s executives have greater than 200 years of oil & fuel business expertise throughout midstream, drilling and completions operations. Constructed initially for oil & fuel however relevant to a mess of business purposes, GumboNet is obtainable by subscription, and uniquely frees corporations from constructing and sustaining stand-alone, in-house blockchain options. With an immutable and auditable document that allows counterparties to belief transactions, no occasion can unilaterally change particulars, all stakeholders have the identical stage of transparency and outcomes, and funds can lastly be automated for financial savings and efficiencies.
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