Data Gumbo, a Houston-based technology company, that has developed the blockchain-as-a-service (BaaS) platform GumboNet to streamline smart contracts for the oil & gas industry, today announced that Murphy Global Logistics, a freight forwarder for international commodities shipping, has adopted Data Gumbo’s solution.
“We manage the most complex oil & gas shipping transactions in the industry, shuttling massive pieces of equipment to the world’s most remote places. Our cargo passes through multiple partners and treacherous shipping environments — a complex process rife with data coordination issues. We can’t control ocean vessels or cargo planes, but we can control the unparalleled transparency and timeliness with which our clients will now receive shipment information with GumboNet.”
– David Johns, president of Murphy Global Logistics
GumboNet will provide insight to Murphy and its clients around cargo shipments’ journeys along with global pickup and delivery points. Currently, Murphy employs manual processes with spreadsheets, emails, fax, and phone.
With GumboNet, each record of completion along a shipment is recorded accurately in a secure and immutable fashion. For supply chain counterparties, contracts are executed at each point along with automatic invoice payment, a feat for a company that contends with more than 95 invoices a month. The generation and payment of invoices through GumboNet will yield significant cost savings, as the company is freed from manual process reliance and time-wasting contract disputes.
“There is much discontentment in the oil & gas industry with antiquated manual processes for handling complex transactions and business functions, and the opportunity for blockchain to benefit freight forwarding is immense. Reliability and traceability are key attributes to Murphy, and GumboNet will further their mission to clients and partners.”
– Andrew Bruce, CEO of Data Gumbo