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.
Murphy Global Logistics Implements Data Gumbo Blockchain Network for Smart Contracts in Commodities Freight Forwarding
“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.”