Murphy Global Logistics Implements Data Gumbo Blockchain for Smart Contracts in Commodities Freight
• Data Gumbo’s blockchain network GumboNet™ automates contract executions and payments, freeing the international shipping chain from reliance on outmoded spreadsheets, email and fax• Murphy’s 180 global clients gain real-time transparency into global shipment tracking; supply chain counterparties experience reduced disputes, and faster invoices and payments
• Commodities shipping company gains cost-savings and efficiency improvements across its logistics services with blockchain smart contracts
• Data Gumbo moves into its next sector of oil & gas industry, freight forwarding
HOUSTON, Texas — September 5, 2019 — Data Gumbo Corp., 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 leading freight forwarder for international commodities shipping, has adopted Data Gumbo’s blockchain network GumboNet™.
“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,” said David Johns, president of Murphy Global Logistics. “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.”
“Data Gumbo is on the cutting edge of oil & gas innovation. We are proud to be a strategic partner and customer, helping to bring value to the industry’s ecosystem, while enriching the GumboNet network,” added Johns.
GumboNet will provide insight to Murphy and its clients around cargo shipments’ journeys along 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 an 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,” said Andrew Bruce, CEO of Data Gumbo. “Reliability and traceability are key attributes to Murphy, and GumboNet will further their mission to clients and partners.”
About Data Gumbo
Data Gumbo is the blockchain-as-a-service (BaaS) company creating the massively interconnected blockchain network GumboNet™ for industrial companies, including oil & gas. Company executives have more than 200 years of oil & gas industry experience across midstream, drilling and completions operations. Data Gumbo is headquartered in Houston, Texas, and Data Gumbo AS is a subsidiary with offices in Stavanger, Norway. In May 2019, Data Gumbo received a $6M Series A equity funding round co-led by Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. For more information, visit www.datagumbo.com, and follow on LinkedIn, Twitter @DataGumbo, and Facebook.
About Murphy Global Logistics
Murphy Global Logistics is a freight forwarding business based in Houston, TX, that strives to serve clients as a valued service partner.The company has a nearly 50 year history of delivering and serving on time and on budget in the world’s hardest to reach areas. Murphy’s has vast experience with oil & gas exploration and completion equipment, and has worked directly in the most remote international oil fields. For more information, visit www.murphyship.com.