Implementing blockchain technology for financial sustainability in urban railways: a holistic multidimensional framework for Malaysia's future transportation

The urban railway system plays a critical role in modern transportation, demanding constant operational efficiency and cost-effectiveness improvement. Blockchain technology holds promise for revolutionizing financial transactions and maintenance strategies in urban railway systems. Existing payment systems and maintenance operations often suffer from inefficiencies and lack transparency. Blockchain offers a decentralized and secure platform to address these challenges. This study proposes a model framework leveraging blockchain technology to enhance sustainability practices in Malaysian urban railways. Urban railways face issues with international payment systems, transparency, and operational efficiency. Conventional financial systems lead to high transaction costs and delays for tourists, while maintenance operations suffer from manual processes and lack of collaboration among stakeholders. This study adopts a multidimensional approach to develop a model framework for sustainable urban railways in Malaysia and also to approach to assess different types of blockchain networks. The framework incorporates key dimensions such as environmental impact, social equity, economic viability, and governance effectiveness. Indicators within each dimension are identified to measure performance and guide decision-making. Public permissionless blockchains enable global accessibility and instant settlements for tourists, while public permissioned, private permissioned, and private permissionless blockchains offer transparency, streamlined workflow management, predictive maintenance analytics, and supply chain optimization for maintenance operations in urban railways. Blockchain technology presents opportunities for innovation in urban railways by enhancing financial transactions, governance, and maintenance operations. Implementing the proposed model framework, Malaysian urban railways can achieve greater sustainability by leveraging blockchain technology. The framework provides a comprehensive roadmap for assessing, monitoring, and improving sustainability practices across key dimensions. Through strategic adoption and continuous refinement, stakeholders can work together to build resilient, environmentally friendly, and socially inclusive urban railway systems in Malaysia.