The Houston-based technology company, Data Gumbo, announced on 15th August about the development of a blockchain as a service (BaaS) platform for a sustainable water solutions provider, Antelope Water Management.
Antelope, an Austin-based water management company caters to extractive industries in the oil and gas sector. With the adoption of blockchain through Data Gumbo, Antelope aims to provide customers and vendors across its water infrastructure, treatment, sourcing and disposal services with real-time data transparency, and automation of contract executions and transactions.
The blog post stated that residing on Data Gumbo’s blockchain called GumboNet, this system establishes an unchangeable database of records that creates a secure network and gives all stakeholders the same level of transparency. GumboNet aims to generate fully automated payment methods to enable savings and efficiencies.
Antelope’s customers can benefit from the self-driven contracts on the blockchain; customers can now cater to complex, day-long operations without any manual supervision. Dwelling on GumboNet brings transparency and security to the transactions, the blog post stated.
Dustin Brownlow, CEO Antelope with regards to the development, said –
“Data Gumbo is a game-changer enabling us to provide customers, vendors, and regulators the best experience that smart contracts can offer. We are excited to add transparency to our operations while removing needless expenses and duplications of efforts to eliminate incorrect data and DSOs through Data Gumbo’s blockchain for all stakeholders.”
As per the blog post, Antelope is keen on deploying Data Gumbo to the Permian Basin, which is the largest producing oil field in the world and “into another sector of oil & gas — total water management.”
With this aforementioned blockchain-backed structure, Antelope can also greatly benefit by cutting down the cost and time of operations and provide a secure and transparent system through a trusted source.
Earlier this month, Data Gumbo received the Frost & Sullivan 2019 North America Technology Innovation Award in Smart Contracts for the Oil & Gas industry. The global industry research firm, “Frost and Sullivan” recognized Data Gumbo’s contribution to blockchain-backed operation in the oil and gas sector and commended the technology company’s efforts.