Kognitwin is a world leading digital twin Software-as-a-Service platform that enables industrial operators to integrate and contextualize data from their IT and OT systems, for advanced analytics and simulation that drive higher degrees of asset performance and collaboration. Kognitwin changes the nature of working with industrial data, allowing data streams to change enterprise workflows. When deployed with automated smart contracts on GumboNet, customers, vendors and suppliers can integrate specific transactional data resulting in comprehensive real-time and predictive digital replicas of industrial heavy assets.
“Digital twins and portfolios thereof are becoming prioritized enablers for operator transformation. We are increasingly observing a growing number of operators intending to centralize sensor and transactional data, including critical supply chain information, on their digital twins. In the past, unlocking value through smart contracts have largely been challenging because of access to complex source data. Now, with digital twins that include representations for real-time sensors, virtual sensors and integrated transactional data, we find an unprecedented opportunity to meaningfully catalyze utilization of smart contracts and distributed ledger technologies. Through our partnership with Data Gumbo we can enable customers to make meaningful progress toward real-time supply chain management, fundamentally changing how this business process operates today” said Shane McArdle, SVP Digital Energy, Kongsberg Digital.
Kognitwin will integrate with GumboNet to codify the triggering of supply chain transactions on smart contracts and automated payments. End-users will experience real-time updates to contractual transactions based on current data sets, viewable in a digital twin context.
The partnership addresses global operators’ needs to improve supply chain management by empowering operators to reduce processing times, access real-time data to increase confidence in processing and aid in strategic business decision making throughout their supply chains. The solution has further potential to take advantage of Kongsberg Digital’s own supply chain tracking solutions.
“This integration of digital twin technology with blockchain-backed smart contracts signals a huge opportunity for supply chain cost reduction and transparency,”
“In deploying GumboNet, Kongsberg Digital is able to offer a control tower to its customers with the ability to provide 4-5 way matching, cross-referencing and triggering of supply chain data and events. By automating real-time transactions with certainty, we are making supply chain management intuitive, easy and transparent allowing parties to capitalize on savings and value.” concludes Andrew Bruce.
“In the future we expect that digital twins, by means of their workflow enablement, information accuracy and data richness, will serve as the main triggers for supply chain activities. We are pleased to partner with Data Gumbo on paving the path for innovation in this domain,”
Webinar: Drive supply chain efficiencies by combining the power of blockchain smart contracts and digital twins
Join industry experts from Data Gumbo and Kongsberg Digital as they discuss the benefits of combining blockchain smart contracts and digital twins in heavy asset industries.SIGN UP FOR THE WEBINAR
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ABOUT Data Gumbo
Data Gumbo is a Houston-headquartered technology company that provides GumboNet™ — a massively interconnected industrial smart contract network secured and powered by blockchain. With integrated real-time capabilities that automate and execute smart contracts, GumboNet reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Data Gumbo also provides GumboNet™ ESG, the automated and accurate sustainability measurement solution that ties a company’s operational data to environmental, social and governance (ESG) standards reporting for industrial supply chains.
To date, Data Gumbo has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco; Equinor Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator; and with L37, a hybrid venture capital and private equity company. With offices in Stavanger, Norway, and London, UK, the growing company was recognized as the Disruptive Innovator in the Forbes Energy Awards 2020 and named to CB Insights Blockchain 50, among other awards last year. For more information, visit www.datagumbo.com or follow the company on LinkedIn, Twitter and Facebook.