Did you know India can be declared the world’s most populated country anytime now? In such an overcrowded country, locomotion plays an important role. Millions of people travel every day using different modes of transportation. Among them, the railway is one of the most convenient and affordable transportation types.
Gladly, our Indian Railways is constantly focusing on modernization to meet the transportation needs of a mass user base. For that, the railway industry is experimenting with Artificial Intelligence and Quantum Computing Technology.
The Indian Government is now quite clear about its objective for revamping the railway sector with concentrated focus, flexibility, and open-mindedness. For example, the Centre for Railway Information System (CRIS) has teamed up with Indian Space Research Organisation (ISRO) to develop a real-time train tracking system called “Real Time Train Information System (RTIS).” This project aids both transporters and passengers in discovering the exact location of trains via the signals from Satcom and Satnav-based IoT devices.
Another technology that will help railways is “Data Analytics.” Using this, railways can predict and pre-plan sufficient resources based on demand. Thus, we can reduce operational costs, congestion, and delays. With this, the passengers can acquire better services seamlessly.
Yes, apart from the technologies we have said earlier, the Indian Railways is recently planning to introduce a new one into its system. This time, the government is trying to boost operational efficiency by employing a new-generation technology, Blockchain.
Blockchain is widely known for its unbreakable security characteristics, which can actually help railways to foster secure operations and improve accountability. Let us state a few shortcomings of our existing railway system that can be corrected using blockchain technology.
- Signal & Device Failure:
In railways, device and signal failure are a big concern as they both can lead to accidents and delays, resulting in poor customer experience. In such circumstances, we can employ technologies like AI, IoT, and blockchain to predict and evade such failures even before they develop intensely.
- Smart Tracking:
Blockchain will allow tracking of locos, wagons, and coaches anytime with the help of programmable contracts developed with the best smart contract development services. Thus, this automated approach will let the railway industry streamline scheduled and on-demand maintenance requirements.
- Digitized Ticketing:
Already, ticket booking has come to our smartphones, allowing passengers to book trains easily from their homes. By Incorporating blockchain, the railway industry can enhance the ticket management system by curbing corruption and encouraging fair and live ticket pricing.
- Vendor Management:
This is the area where blockchain can add more value by ensuring transparency. Smart contracts help to develop an automated vendor rating system where passengers can rate and voice their feedback. Thus, it allows the railway sector to increase customer satisfaction.
- Spare Parts Management:
As blockchain can offer end-to-end traceability, the officers can observe the stock inventory and get faulty spare parts replacements directly from the manufacturer.
Lately, the National Academy of Indian Railways (NAIR) has educated railway administrators about the benefits of blockchain and other technologies. During the workshop, they distributed “Phygital NFT certificates” to railway officers affirming their skills and accreditation. These certificates are tamper-proof, reliable, safe, immutable, and inimitable.
The framework proposed by the railway industry includes digital identification, IoT, AI, dynamic NFTs, Smart contracts, and blockchain. The Indian railways can achieve a transparent and flexible system that can be deployed, embraced, and scaled for the masses.
Metaverse is going to scrutinize the railway sector to create a platform for Research and Development (R&D), technical training, and trainee experiences. Overall, this will improve and upgrade the knowledge management system efficiently.
In the queue, the Indian government also aims to reduce carbon emissions. A solar-powered project at Bina Railway Station strives to provide 25 kV OverHead Electrical Equipment to move trains directly. This step of the Indian Railways shows its willingness to achieve sustainability. As the government drives toward 100 percent electrification, the railways have set a target to reduce the carbon footprint. For this purpose, the railways may also go for sustainable blockchain solutions like ReFi.
If you aren’t familiar, Regenerative Finance (ReFi) is an emerging technology that keeps our environment as a primary concern. At the heart of ReFi, we can see the “Carbon Credits System,” which will be the best problem-solver for reducing carbon footprints. For more information about Refi, you can visit our dedicated webpage for ReFi on our website.
Finally, blockchain technology integration in the Indian Railways indicates the beginning of a new digitized ERA we must be proud of.
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