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Data Gumbo CEO Talks Power of Blockchain for Energy Industry at CERAWeek 2020 

Feb 26, 2020 8:30:14 AM / by Data Gumbo Team

Andrew Bruce to discuss industrial blockchain's role at CERAWeek 2020

Update: Due to growing concerns about COVID-19 coronavirus, IHB Markit has decided to cancel CERAWeek. Please read full announcement here.

Today Data Gumbo announced that Founder and CEO Andrew Bruce will be speaking at CERAWeek by IHS Markit, one of the world’s premier energy events, the week of March 9-13 in Houston. 

Session information: A former executive at National Oilwell Varco and MHWirth turned tech entrepreneur, Bruce founded Data Gumbo in 2016 after spotting an opportunity to eliminate sizable inefficiencies in energy with blockchain-based smart contracts. Data Gumbo provides a trusted transactional blockchain network called GumboNet, that automates smart contract execution for industry leaders.

To date, Data Gumbo has been adopted by the Offshore Operators Committee (OOC) Oil & Gas Blockchain Consortium (consisting of 10 oil & gas member companies: Chevron, ConocoPhillips, Equinor, ExxonMobil, Hess, Marathon, Noble Energy, Pioneer Natural Resources, Repsol and Shell) and Diamond Offshore Drilling International, among other drilling and well completion services, midstream commodity haulage and insurance use cases, with additional deployments planned in 2020. With integrated real-time capabilities, GumboNet reduces contract leakages, frees up working capital, enables real-time cash and financial management, and delivers provenance with unprecedented speed, accuracy, visibility and transparency solving critical pain points impacting the energy industry.

Session information: Since the downturn in prices, energy companies have looked to digitalization to reduce costs and improve margins. As companies begin to understand the power of blockchain technology, its use is increasing in multiple industries, including energy. How is the energy industry working with external partners to use blockchain to transform itself? What are some examples of its use for drilling, trucking, and the supply chain?

For details on CERAWeek by IHS Markit, please visit www.ceraweek.com, and follow on @CERAWeek, Facebook, LinkedIn, and YouTube.

Topics: Blog

Data Gumbo Team

Written by Data Gumbo Team