Data Gumbo, a leader in blockchain for the oil and gas sectors, is moving into the construction sector and has hired Michael Matthews (above) as industry principal to bring his expertise in streamlining capital projects to maximise performance and efficiency.
Data Gumbo believes its blockchain system of “smart contracts” can help eliminate construction’s historic problems with productivity and cost overruns.
The company claims its GumboNet platform enables the automation of contracts by capturing data from existing systems, then using the data to independently validate performance against terms and conditions, and posting the results on an immutable, distributed ledger for approval by the contractual parties. It says: “GumboNet directly addresses the industry’s ‘pain points’ by fostering trust among project stakeholders, establishing a single source of truth and delivering visibility into productivity, cost, schedule and safety performance.”
Register for free and continue reading
This is not a paywall. Registration allows us to enhance your experience across Construction Management and ensure we deliver you quality editorial content.
Registering also means you can manage your own CPDs, comments, newsletter sign-ups and privacy settings.
