It's Time to Change
Heavy industries are capital and resource-intensive and highly fragmented with complex assets and divergent technologies. These factors create significant challenges that result in transactional friction and cost inefficiencies.
It’s time to fundamentally change how companies, vendors and suppliers within these sectors transact and shift away from low trust, paper-based and manual processes to streamlined digitized ones.
That's where GumboNetTM comes in. As a smart contract network for industry, we are changing the way the world does business.
Oil and Gas
A number of sizable inefficiencies in oil & gas can be solved with smart contracts. As more companies adopt this automated approach to commercial transactions, the future points to broad implementation and benefits.
With integrated real-time capabilities, GumboNet transforms transactions, solving critical trust-based pain points across midstream, upstream and downstream operations resulting in multimillion dollar savings. Our network allows companies to share relevant field data with counterparties who need it, resulting in automated confirmation of services and the execution of agreed payments as the service occurs.
The construction sector is notorious for its sluggish adoption of technology, an issue tied to the complex physical asset management of buildings, infrastructure, utilities and processes. Prevailing contracting models and a lack of digital information sharing further slows productivity and execution in addition to incurring hidden project costs. From OEMs to owner/operators, each stakeholder adds a layer of administrative drag that increases the cost of capital.
GumboNet solves industry pain points and delivers visibility into productivity, schedule and safety performance resulting in streamlined workflows and significant costs savings. By developing and deploying smart contracts across asset life cycles, Data Gumbo is facilitating the transformation from paper-based processes to a digital operating model.
Extractive industries are frequently executed in remote locations while involving numerous vendors. The lack of a single source of truth between these parties has long delayed efficiencies. Factors are further intensified under compressed schedules that demand operational excellence, efficient use of time and cost productivity.
Industrial smart contracts powered by blockchain are uniquely suited to bring efficiencies to extractive industries to track material production and movements, equipment history, haulage of goods and payments, and to automate invoicing based on operating data.
Whether heavy equipment, chemicals, pipe fabrication or other, manufacturing involves complex supply chains and processes accompanied by significant transactional and informational friction.
With siloed technology systems in play between suppliers, customers and even competitors, smart contracts offer new opportunities for equipment life cycle traceability, raw material and finished goods provenance, unparalleled transparency into quality documentation, performance-based contracts for equipment and advantageous joint venture billing payments for large facilities.
Ready to take the next step?
Get in touch to streamline operations and reduce your expenses.