Blockchain has become a household name in Africa and does not need any introduction. Everyone in the technology industry knows Blockchain as a decentralized ledger technology that carries more than just economic transaction and ensures sharing of immutable data that has value. Moreover, Blockchain network does not hold any central authority to secure data and thus offers a transparent network to everyone. With this Blockchain features, it has become apparently clear that Blockchain is not just for bitcoin applications. There exist several use cases of Blockchain in various fields including government, health care, media, banking, the supply chain that are surprising peoples every day.
Blockchain role in railways is one such application that is significantly disrupting the traditional approaches of the industry. Today many railway companies and their infrastructure managers are investigating the use of Blockchain in railways operations globally.
Simplifying the infrastructure:
Railway infrastructure includes the number of vehicles that need to continually coordinate with one another through a central authority, to work in a planned manner. With Blockchain the process of coordination can be made simpler, Blockchain allows vehicles to communicate through the use of the smart contract. Meanwhile, the technology also helps them to track signals, points or level crossing, reducing the issues of prolonged waiting delays during crossing and accidents. The system can also be used for authentication purpose to check driver’s license and billing of infrastructure.
Predicative maintenance: a strong and reliable predictive maintenance is must for every process that includes high risk during failure and Here trains we use to supply valuable goods as well as transportation includes the number of complex systems that works collaboratively. This makes the periodic maintenance important for trains.
The Synergy of IoT and Blockchain had also helped people offering the best predictive maintenance that correctly forecast the failure of equipment.
Decentralization of system: the centralized system that is widely used today for signalling encounters various serious issues. Some of the biggest issues faced by railways are system failure, disruption of communication, data theft, human havoc, technical hazards etc. during all such issues that effects operations of trains and risk peoples live, there is need of safety framework that can offer a transparent and secure platform to handle ad hoc traffic, deviations, equipment failures, and other emergencies.
Blockchain that offers a decentralized network can make this possible. The decentralized system will allow the railway industry to drive out more reliability, transparency, traceability and security.
Beyond the endless application of Blockchain that could disrupt the railway’s system in Africa for good. There exists some downside to the system. these are uncertainties of regulations, lack of scalability, lack of privacy, scalability, identity protection on public blockchain etc, which are needed to be taken into consideration.
Now as you all information about Blockchain role in railways, learn about other application of Blockchain. Our Blockchain guide, on Blockchain Africa network, will help you understand everything about Bitcoin, Blockchain and cryptocurrency.