Challenges In Railway Industry
Though the railway is a transportation industry, it plays a dual role, one as a revenue generator and another one as economy influencer.
Since rail networks are the gateway for passengers from other countries and other states, the entire system has to ben more secure to avoid the terrorist entry, and to prevent the export of illegal goods.
Train Schedule & Accidents.
Improvement Cost, Revenues and Staff Wages Related Problems.
Passenger Facilities & Insecurity.
Political Influence.
Now it’s time to see how blockchain will influence the railway industry
Use Cases of Blockchain in Railway
Here is the list of blockchain use cases in railway
Can Implement Loyalty Schemes / Reward Points
If blockchain is implemented in railway networks, then the passenger can collect reward points each time they purchase a ticket. The redemption of these reward points will be written under some defined policies. The claimed rewards points can be used for acquiring other services like cab facilities after train travel.
Can Improve Identity Management
As blockchain brings more data transparency inside the system, it brings easy management of passenger identities, hence the passenger doesn’t need to carry any proof during travel, as everything recorded online with blockchain.
Predictive Maintenance
Since every train is connected with thousands of technical and electrical parts, Train maintenance is very important for a safe journey, but it is a highly complicated one. Every train has to maintained properly after reaching a particular mileage or if any deterioration occurs on a particular part. Finding the damages and inefficiencies of trains parts with the manual audit will be more complicated. So, blockchain with IoT connected sensors and devices will bring modern maintenance, whereas every individual part of a train is registered under blockchain.
Decentralization on Train Operations
The current signal processing inside railway networks are handled by centralized systems. So, there may rise unexpected challenges like system failures, Communication loss, Manual error, driver’s death, ad-hoc traffic diversion, collisions, and derailments. To prevent these railway networks deploy some safety frameworks but they have some disadvantages like cost, manpower and interoperability issues. But with blockchain, we can overcome all the issues and can bring a modular railway transportation system by entirely decentralizing the whole rail networks.
This integrated decentralized system can perform below things,
Wayfinding
Booking
Switch setting to correct position
Interaction with other nearby trains or vehicle through sensors
Algorithm-based speed control
Automated brake system
Decentralized GPS Tracking
Automated Billing
With blockchain, the allocation of railway infrastructure rights and its payments would happen instantly. Every interaction like ticket booking to subcontractor payment will be driven replicated in a trusted ledger.
Source Published : Blockchain In Railway
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