The Houston-based startup Data Gumbo has been named the “Disruptive Innovator” by the editors of Forbes in the inaugural Forbes Energy Awards, posted on Forbes.com in December 2020.
The “Forbes Energy Awards 2020: NextEra Energy, Bigger Than Exxon, Greener Than Tesla” reviewed people and companies that defined the energy sector in a year of disasters, distractions and sub-zero oil prices.
Johan Sverdrup
Forbes designates Data Gumbo as “putting the energy industry on the block chain,” and used the 750,000-barrel-per-day North Sea megafield Johan Sverdrup, owned by the Norwegian oil giant Equinor, as an example. Thousands of sensors feed into the block chain-based data platform operated by Data Gumbo. The platform manages dozens of “smart contracts” and uses data from the field to determine contract completion, eliminating mountains of paperwork and potentially saving billions of dollars.
According to Data Gumbo CEO Andrew Bruce, the system uses data from the field to confirm transactions, and stores that data in the chain. “No party can change any part of the transaction that provides the trust; there’s not two versions of the truth.” Data Gumbo’s investors include Equinor, and the venture arm of Saudi Aramco.
Click here to read the complete story on the Forbes Energy Awards 2020.
