The CEO of global design software giant Autodesk has suggested that DLT can make a significant impact on curbing corruption in the construction industry.
CEO Andrew Anagnost, who has a PhD in aerospace and astrospace engineering, was speaking at an Autodesk University event in Las Vegas when he was asked by journalists why his company had not taken the blockchain route as yet.
“Oh, we are,” he replied. “We just don’t have a point of view we have stated publicly.”
Autodesk is the maker of design software for manufacturing, architectural, engineering and construction industries, as well as for the media and entertainment industry. Its architecture, engineering and construction (AEC) software suite now delivers 3D modeling of building designs and also includes building information modeling (BIM), which tracks data on materials used in construction and building fit-outs.
The question by the journalist was certainly a topical one given that the construction industry has been considering the inclusion of blockchain smart contracts for some time. Anagnost was quick to praise blockchain’s traceability and accountability:
“A technology like that in an environment like construction where various people involved in the process don’t trust each other is going to find some kind of application… 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.”
In terms of fighting corruption, Anagnost made the point that people fighting new technology being introduced into the construction industry are more than likely to be those who don’t wish to have their activities tracked. Of these he said:
“They don’t actually want a clear record of who did what, when and how. It’s going to take a lot of us enforcing this and making it not optional to trace who did what and when… one of the big technological problems we’re going to have to solve is making sure it is not optional to provide traceability and accountability.”
Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews
Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.
Image Courtesy: Pixabay
The post Autodesk CEO Says DLT Best Tool to Combat Corruption in Construction Industry appeared first on BitcoinNews.com.