Amey Consulting, in partnership with Finboot, have won £30k funding to develop an innovative solution to remove costs associated with conflict in the rail industry.
The impact of the solution is potentially huge, with conflicts currently costing the industry billions each year. It also has the potential to improve safety and operational efficiency, with anticipated environmental benefits from improved railway reliability – which also comes with improved customer satisfaction. There is also the potential to use the technology in many other areas of work.
The funding comes from Technology Connected, a Welsh Government funded organisation which unifies, champions and promotes Welsh technology across the world, building a better future for the industry in Wales.
Blockchain Connected, who ran the “Demonstrating the Potential of Blockchain” research and development scheme, invited companies across Europe to submit a problem they had around the themes of the circular economy, decarbonisation, supply chain and digital identity and trust. Amey Consulting were one of only nine successful collaborative projects from over one hundred ideas submitted.
The solution has been tested and verified with subject matter experts, with the next stage being the live test of a minimum viable product on Wales’ railways.
Tom Kinnear, Partner for Digital Strategy Realisation, said: "Block chain has the potential to unlock collaboration across our industry, something which is really needed in our sector. The work we have done with Finboot has enabled us to explore the benefits and also demonstrated the safety and efficiency case behind the technology. We’re excited about the value it can provide in the future."
Juan Miguel Perez, Finboot CEO, said: "At Finboot we've been looking at how blockchain can act as the backbone of a digital solution for some complex industry needs. This opportunity allows us to explore and develop with Amey Consulting - a leader in digital interventions in the railway industry. Together, there is huge potential to bring added transparency and real-time visibility to important processes within the sector. We are excited about realising the full potential of our partnership and improving railway travel for everyone."