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Cardiff, 6 July 2023: Blockchain will now be used to improve rail possession planning for the first time in the UK. The news comes following a unique partnership between infrastructure consultancy Amey Consulting and tech firm Finboot. The technology will be pioneered by Amey alongside Transport for Wales on its transformation of the Core Valley Line rail network.
Blockchain, an immutable ledger which digitally records transactions, will be used to agree access times for engineers to safely access rail tracks for maintenance, renewals and enhancements.
Blockchain’s ability to securely and independently record decisions provides a marked improvement on traditional planning systems, which can be open to duplication and inconsistency. While improving accountability and security, Blockchain will also lead to greater automation of possession planning.
The impact will reduce costs, improve planning and operational efficiencies, while also improving safety.
Speaking on the announcement, Tom Kinnear, Partner, Amey Consulting said: “Safe, effective, and predictable possession planning is essential in keeping our engineers safe and our rail network running. Through partnering with Finboot, we will provide the rail industry a UK first, in using Blockchain to radically improve this process. Opening the rail industry to new technologies from other industries is essential if we are to innovate, and build a forward thinking, digital-first railway we can all be proud of.”
Juan Miguel Perez, CEO & Co-Founder, Finboot says: “At Finboot we've been thinking about how blockchain can provide a digital solution for the complex requirements of railway maintenance. To have this further opportunity to explore and develop this with Amey, a leader in the railway industry, it's a great. Blockchain is a key piece of industrial tech that will bring added transparency and real-time visibility to such an important process within the rail sector.”
Today’s news follows a Railway Industry Association (RIA) report launched in March 2023, outlining the challenges and opportunities facing the rail industry on data and digital technologies. Among its recommendations was the need for the industry ‘to open itself up to different ideas from new and experienced innovators in its own and other industries’.
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This PR coverage:
7 July 2023: https://www.wales247.co.uk/uk-first-use-of-blockchain-in-rail-to-be-used-in-wales
7 July 2023: https://www.transportinfo.org.uk/?filter=1&fd_date=2023-07-07 This link is a link to an index type platform that hotlinks to Wales247 piece
11 July 2023: https://futuretransport-news.com/uk-amey-and-finboot-to-trial-blockchain-technology-in-rail/
13 July 2023, https://www.consultancy.uk/news/34789/amey-consulting-and-finboot-leverage-blockchain-for-rail-maintenance
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Notes to Editors
For more information, please contact nicola@impactandinfluence.global or chris@impactandinfluence.global
About Finboot
Finboot is a technology company simplifying enterprise blockchain. We facilitate the core priorities of industry leaders to enable fast and easy adoption of digital ecosystems powered by blockchain.
Finboot created the first No-code / Low-code platform and ecosystem, MARCO, to enable Web3: Bringing the future of the internet to business. MARCO greatly improves management of value chains and drives forward digitalisation, sustainability and ESG agendas. MARCO connects blockchain technologies securely under one roof, turning data into trusted digital assets and accelerating the road towards interoperability.
Our purpose at Finboot is to enable Web3 and unlock its full value. Finboot is making blockchain accessible and understandable to business and delivering the leading No-code / Low-code platform and ecosystem for a decentralised world.
About Amey
Amey is a leading infrastructure services and engineering company.
Amey is at the heart of modern Britain, helping the economy to grow by designing, maintaining and transforming the nation’s strategic assets. Amey’s 11,000 people are behind the critical services the country relies on every day and Amey takes personal pride in our public service. Amey’s unique engineering and operations experience, together with data driven insight from our consulting business, delivers better results for our clients.
Amey is a trusted partner of Government – both national and local – managing assets and complex projects that are vital to the sustainable growth of the country.
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