On Tuesday
OOC Oil & Gas Blockchain Consortium of oil giants such as Chevron, Shell and Exxon awarded a contract to
Data Gumbo. The project involves a trial of its blockchain for water management in the Bakken shale field in North Dakota. By using the GumboNet blockchain platform, the aim is to lower operational costs and reduce payment disputes and frauds.
There are several parties involved in the oil and gas extraction process providing specialized services. GumboNet will be used to transform the legacy system, which manually processes transactions and payments of these services.
In the Bakken shale field, GumboNet will record data related to waste water disposal.
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