With electromagnet and iron rail the same effect is used for almost an century on streetcars under the name "electrodynamic brake". Idea is that single assembly

With electromagnet and iron rail the same effect is used for almost an century on streetcars under the name "electrodynamic brake". Idea is that single assembly combines this for small braking strengths and friction braking for complete stop (the electromagnet is on springs and can come into complete contact with rail, which is used as equivalent of parking brake).