Joint Implementation of GumboNet™ and Jovix® Underway with One of World’s Largest National Oil Companies on Provenance of Materials
HOUSTON & BIRMINGHAM, Ala.--(BUSINESS WIRE)--#JEF2020--JOVIX EXECUTIVE FORUM — Data Gumbo, the trusted industrial blockchain network, today announced a partnership with Atlas RFID, provider of the Jovix® Material Readiness® software solution. The collaboration brings automated, touchless transactions and unparalleled visibility to the heavy industrial construction sector for commercial contracts. Two joint implementations are currently underway 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.
“This partnership marks a big step forward in the digital automation and visibility of the industrial construction supply chain,” said Andrew Bruce, CEO, Data Gumbo. “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. 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.”
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. 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.
“As our first blockchain partner, Data Gumbo opens up the world of smart contracts to our customer base and, subsequently, enables us to offer the vast benefits of commercial transaction automation to them,” said Jon Chesser, Chief Revenue Officer, Atlas RFID Solutions. “This partnership brings to market integrated technologies that enable truly touchless transactions across the construction supply chain.”
Data Gumbo will be participating in the Jovix Executive Forum October 19-21, 2020, in the Tech Zone of the virtual booth. For more information, please visit www.jef.jovix.com.
About Atlas RFID Solutions
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. The biggest engineering, procurement, and construction (EPC) contractors, owner/operators, and suppliers in the world use Jovix because it is one of the only firms that can offer a complete end-to-end customized solution for Material Readiness. Since 2009, Jovix has been used to track 3.5 billion pieces of material and over 250 million material transactions. For more information, please visit www.jovix.com.
About Data Gumbo
Data Gumbo provides transactional certainty for tomorrow’s industrial leaders through GumboNet™, a massively interconnected industrial blockchain network. With integrated real-time capabilities that power, automate and execute smart contracts, our network reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Headquartered in Houston, Texas, Data Gumbo has a subsidiary office in Stavanger, Norway. To date, the company has received equity funding with 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 or follow on LinkedIn, @DataGumbo and Facebook.