At the 2018 Autodesk University event in Las Vegas, Andrew Anagnost, CEO of Auto desk said Blockchain will help to fight corruption in the construction industry. It will also improve the level of trust between people in this working environment. This is because its stored content cannot be changed.
Data Stored On Blockchain Cannot Be Altered Easily
The CEO pointed to the fact that the data stored on Blockchain cannot be altered easily. This is data that is traceable and can be accounted for and as such, brings about transparency when businesses are conducted. That being so, employing a technology of this nature in construction where there is a level of distrust among people will have an immense impact.
In his remarks;
When people are paying hundreds of millions of dollars on large projects, something is always happening somewhere that isn’t quite right. There’s always someone bleeding off resources or money in some inappropriate way.
According to the CEO, there are people in this industry who don’t want to be tracked as per who did a particular thing, when and how. This makes it difficult to know who is responsible and should be held accountable. That being the case, it ends up affecting the level of traceability and accountability in the industry.
Corruption, One of The Biggest Problems in the Construction Industry
Andrew stated that corruption was one of the biggest technological problems of this Industry. Therefore, a way to combat it is to ensure record keeping is not optional. This can be made possible with the use of Blockchain. The CEO gave instances of his work while on construction sites where the data was omitted on purpose.
Here, vital information could be eliminated when records are to be stored. This was mostly attributed to the personal relationship a co-worker has with another. In this case, a quality checker may choose to omit some issues depending on how well they know a subcontractor.
Autodesk May Employ Blockchain Technology In Future
Although Andrew’s Company is not currently using the Blockchain, he made mention that in the near future, it will. According to him, Autodesk has been trying to develop a digital escrow which is not based on the blockchain. But then, the purpose of this escrow is to improve the level of trust in the construction industry.
Generally, the construction industry has been considering ways of how to use blockchain technology such as smart contracts. Nevertheless, Andrew’s opinion is that there should be a way of ensuring that there is a greater level of trust and accountability among people in this environment.