Blockchain Technology Approach for Urban Railway Operation and Maintenance Cost: A Recent Analysis

The urban railway system plays a critical role in modern transportation, demanding constant operational efficiency and cost-effectiveness improvement. The problem statement identifies the existing gaps and challenges in Operation Expenditure (OPEX). Managing operation costs in urban railways is a multifaceted challenge involving intricate interdependencies and considerations. In this context, integrating blockchain technology presents a promising approach to optimise the operation and maintenance processes, potentially reducing costs while enhancing transparency, security and efficiency. The traditional operation and maintenance practices of urban railway systems often suffer from inefficiencies, lack of transparency and high administrative overheads. This results in inflated operational costs, which ultimately burden both operators and passengers. Moreover, conventional methods often struggle to effectively manage the complex network of assets, maintenance schedules and service providers, leading to suboptimal resource allocation and prolonged downtime. These include a variety of approaches, such as simulation techniques, optimisation models, machine learning algorithms and detailed analytical frameworks like the Analytical Hierarchy Process (AHP), which is based on PRISMA. The advanced searching techniques on SCOPUS, Web of Science (WOS) and IEEE Xplore database using the keywords “blockchain technology”, “operating costs”, “maintenance”, “financial” and “urban railway” were applied. The final primary data (n=24) was analysed using the quantitative data method. The themes were decided, which are Theme (1) on railway operations and efficiency, Theme (2) on Deep Learning and Financial Technology and Theme (3) on Financial Risk Management and Evaluation. The integration of blockchain technology into urban railway operations and maintenance holds significant promise, offering improved transparency, efficiency and security. By enhancing trust among stakeholders through increased transparency and auditability as well as fostering collaboration and accountability, blockchain can revolutionise traditional practices. Furthermore, the automation of tasks and optimised resource allocation are expected to yield cost savings and operational efficiencies. Additionally, the decentralised nature of blockchain technology mitigates the risk of data tampering and cyberattacks, ensuring the integrity and security of critical infrastructure systems. Overall, blockchain presents a paradigm shift in managing urban railway operation and maintenance costs, paving the way for more sustainable, reliable and cost-effective transportation systems worldwide.