Blockchain Startup Data Gumbo Teams With Atlas RFID To Automate Industrial Construction Supply Chain Contracts
Industrial blockchain network Data Gumbo is teaming up with Atlas RFID Solutions to digitize the construction supply chain.
Headquartered in Houston, Texas, Data Gumbo provides industry with a trusted transactional network to automate contract execution for tomorrow’s leaders through GumboNet, a massively interconnected blockchain network. With integrated real-time capabilities that power smart contracts, GumboNet reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with “unprecedented speed, accuracy, visibility and transparency.”
Atlas RFID Solutions develops, sells, integrates and supports Jovix, a software solution that leverages RFID and mobile technology to track the location and status of materials on international mega-projects to digitize the construction supply chain. Since 2009, Jovix has been used to track 3.5 billion pieces of material and over 250 million material transactions.
Together, the two companies are driving automated, touchless transactions and unparalleled visibility into the heavy industrial construction sector for commercial contracts, furthering the digital revolution within construction and capital projects. Notably, the partners are working on two joint implementations with a national oil company (NOC): tracking hundreds-of-millions of dollars in chemicals and establishing provenance to curb counterfeits, losses and expirations; and also establishing provenance and life cycle management of the company’s steel pipe orders and assets.
“Data Gumbo will utilize Jovix’s validation data, a combination of web-based server software, mobile devices, and smart RFID tags and barcode labels, on GumboNet, the company’s massively interconnected industrial blockchain network,” the report stated. “GumboNet digests terms from natural language contracts including payment terms, rates, modifiers, penalties and more, and translates real-world agreements into automated smart contracts thus eliminating administrative drag, contract fraud and operational inefficiencies.”
Andrew Bruce, CEO, Data Gumbo, said that the partnership marks a big step forward in the digital automation and visibility of the industrial construction supply chain.
“Right from the start, we are delivering massive value to a NOC who expects to significantly reduce material losses with a transparent, single source of truth on GumboNet with data supplied by Jovix,” Bruce said. “The savings will exceed millions per year for the NOC, and we look forward to furthering the digital revolution within construction and capital projects with the team at Atlas RFID.”
Jon Chesser, Chief Revenue Officer, Atlas RFID Solutions, said that as their first blockchain partner, Data Gumbo opens up the world of smart contracts to Atlas’ customer base and, subsequently, enables the company to offer the vast benefits of commercial transaction automation to them.
“This partnership brings to market integrated technologies that enable truly touchless transactions across the construction supply chain,” Chesser said.
