Impact of Cryptocurrency in Shipping Industry

Running Head: IMPACT OF CRYPTOCURRENCY IN SHIPPING INDUSTRY
IMPACT OF CRYPTOCURRENCY IN SHIPPING INDUSTRY
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1IMPACT OF DATA MINING IN AUTOMATIVE INDUSTRY
Table of Contents
Part 1..........................................................................................................................................2
Part 2..........................................................................................................................................2
Part 3..........................................................................................................................................3
Part 4..........................................................................................................................................3
Process model diagram..............................................................................................................5

2IMPACT OF DATA MINING IN AUTOMATIVE INDUSTRY
Part 1
Introduction of crypto currency have embarked the fact that the usage of paper related
documents have been decreasing. In the shipping process the main feature that is taken into
deliberation in case of the shipping industry is the approval of type contracts and custom
clearance. This aspect ensure proper reducing of the time that might be wasted in the
processing of the custom checkpoint. These are considered as the main reasons that the
acceptance of the crypto currency in the field of the shipping industry has been very high and
huge disruptions are brought into the scene of the shipping industry (Jiang, Liang, J., 2017).
The disruption have had a positive effect in the regular processing of the data management
and transaction period. Shipping password management also has been benefitting the process
of the business management. Another aspect that is needed to be considered in this section is
that the fast rate of the order tracking and authentication has been benefitting the shipping
industry.
Part 2
3 processes of crypto currency introduction disrupts the business management process of the
shipping industry: -
 Authentication of the tracking process ensures the fact that the entire shipping process
gets performed. The scalability of the entire transaction process is considered to be
very high. Crypto currency implementation of the immediate solution has been
performed as per the tracking of the shipping process. With the help of the crypto
currency implementation the main aspect that is taken into consideration is that the
security of the data that is being transacted will stay protected. This has been a major
instance regarding processing of better transaction (Kašćelan, Kašćelan and Novović
Burić 2016).