GumboNet Glossary

GumboNet Dashboard

Find all your day-to-day tasks and get up to speed on GumboNet activity

Left Navigation Pane

GumboChain

Access your smart contracts, disputes, ledgers, and blockchain transactions.

• Dispute Resolutions

• Ledgers

• Smart Contracts

• Blocks

• Invoice Management

Active Tabs

Active Tabs enable the user to quickly access frequently used applications.

Active Tabs in GumboChain:

• Ledgers

• Smart Contracts

• Blocks

• Invoice Management

GumboConnect

Connect with enterprises on the network to create smart contracts

• Connected

• Not Connected

• Connections Requests

GumboNet Apps

• GumboStore
• Contract Builder
• Contract Execution
• Commodity Management
• KPI

GumboStore

Find certified Smart Contract templates to meet your needs

• Smart Contract Templates

• Licensed Smart Contract Templates

Contract Builder

Enables parties to choose a smart contract template, negotiate the configurable values, upload documents and sign off.

• Create a New Template

• Active Contracts

• Templates

• Contracts in Negotiation

Contract Execution

Track milestones and tasks as part of an active contract

• Contracts with Tasks

• Filtered Tasks:

  • Approved Documents

  • Rejected Documents

  • Waiting for Review

  • Approvals Due

  • Upload Due

Commodity Management

View details on your facilities and commodities in movement

KPI Dashboards

KPI (Key Performance Indicators) dashboards display configurable output of smart contract data.

Notifications

System-generated messages to alert the user to take action.

Notifications include:

• Needs attention

• Dispute counts

• Expirations

• Activations

• Smart Contract run time success or failure

• Trigger events 

• Status changes

Company Administration

The Company Administration landing page enables the Admin User to perform specific tasks.

Admin Users have access to manage:

• Entities Hierarchy

• Asset Management

• User Management

• Integration Methods

Smart Contract

In GumboNet, smart contracts are the combination of a natural language contract and code that executes the operational terms of the contract. By combining both a natural language contract and the code into a package that both parties electronically sign off on, the smart contract is both automated and legally enforceable.

Smart Contract Template

In GumboNet, smart contracts are instantiated from templates. The templates include the code and the layout of the smart contract. Users define the “blanks” that will need to be filled out and negotiated between parties in the template as well as associate the code and configurable variables needed to execute the terms of the natural language contract.

One template can be reused many times to create multiple copies of the same smart contract on different ledgers. However, the participants and the values (e.g. price books, dates, dispute resolution mechanisms, etc.) are configured and agreed upon each time.

Reusable templates mean that GumboNet customers rarely start from scratch. Current (1.7) templates include:

• Water Haulage

• Diesel Delivery

• Integrated Well Services

• Drilling Services

• Personnel Charges

• Rental Tools

Ledger

In GumboNet, ledgers are private, permissioned blockchains set up for a specific purpose by GumboNet users to record the outputs of smart contracts.

GumboNet ledgers are true blockchains in the sense that each participant in a ledger has a complete copy of that ledger, even though they may only have access to some of the blocks.

Each Ledger is ‘owned’ by a particular company, who is designated as the host. The host controls which smart contract templates can run on their ledgers. The host can be either a buyer or seller. All parties to a smart contract will have a copy of the ledger that the smart contract ran on. Only parties to a particular smart contract have access to the blocks generated by that smart contract. A host may have access to all the blocks on a particular ledger while counterparties only have access to the blocks generated by smart contracts they participated in.

Block

In GumboNet, blocks are the records generated by smart contracts and added to the ledger. Each block is encrypted and linked to the previous block on the ledger via a cryptographic hash, creating a ‘blockchain.’

There are several types of blocks, which are used for different purposes:

• Contract Block

• Charge Block

• Charge Adjustment Block

• Invoice Block

• Data Block

• Document Block

Smart Contract Criteria

In GumboNet, smart contracts utilize templates that have certain required information identified up front, which is then filled out and negotiated by contract participants. This enables the templates to be highly reusable and configurable.

Criteria vary depending on the template but may include:

• Smart Contract Headers (required data for all contracts)

• Billing Tempo

• Billing Addresses

• Planned spending or planned spending schedule

• Dates

• Pricing and Price Books

• Execution documents (i.e. documents expected and required to be generated during the execution of the contract, such as third-party inspection certificates, bills of lading, goods receipts, etc.)

• Assets Assignments (i.e. what assets from each party will be covered by the contract and potentially serve as data sources)

• Dispute resolution mechanisms

• Executable Tasks and Milestones (i.e. what tasks are expected to be completed as part of the contract which requires either a manual or API driven sign off from one or both parties)

Developer Tools:

Template Builder

The Template Builder module enables users to create a smart contract template either from scratch or from an existing template. This is where the users add actual code and configure variables for the template that will be negotiated in the Contract Builder.

Template Builder:

• Smart Code Editor

• Clause Editor

• Execution Document Editor