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Corruption In The Construction Industry Can Be Stopped By The Blockchain Technology According To Andrew Anagnost

Usman Salis



Andrew Anagnost who is popularly known to be the CEO of Autodesk has asserted that the construction industry would stand to benefit a lot from the integration of the BlockChain technology into the construction industry. He believes that right now, the construction industry is overflowing with corruption which is not benefiting the country in anyway whatsoever.

Autodesk which he is currently the CEO of is a company which was founded way back in 1982. This company is said to be one of the major producers of software which is meant to aid the construction industry in most of its endeavours. These would include, construction, media, architecture and so much more. It is believed that earlier this year, the revenue which was being received by this company was just over the $2 billion mark.

He said this while he was speaking at the Autodesk University conference which took place in the city of Las Vegas. Andrew asserted that the corruption which was destabilizing the construction industry is something which can be easily handled through the use of the BlockChain technology. He also explained that using the BlockChain technology would serve the increase the trust levels currently among many officials in the industry. He further explained that the reason why the BlockChain technology is so good is due to the fact that it cannot be altered in any way and by anyone. Therefore, it increases the level of accountability among several persons.  

While Andrew shares this very strong opinion, he admitted that he is yet to start producing any products or software which is run on the BlockChain technology. However, he believes that the BlockChain technology would be part of the corporation’s efforts to move forward and develop accordingly.

It is believed that his corporation Autodesk has been making serious efforts in their quest to an escrow system which would be able to help build the trust amongst persons who are currently in the construction industry. This is due to the fact that they strongly believe that corruption in any industry is due to the lack of accountability and traceability which is being placed in many places. It is important to note that Autodesk is not the first company to realize that the BlockChain technology is a way to ensure that corruption is defeated. Even countries like Spain are making effort to ensure that the BlockChain is involved in their fight through anti-corruption laws

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