Impact of Cryptocurrency in Shipping Industry

This article explores the impact of cryptocurrency in the shipping industry. It discusses how the introduction of crypto currency has disrupted traditional processes and improved data management, transaction processing, and decision making. The article also highlights the benefits and challenges of implementing crypto currency in the shipping industry.

Running Head: IMPACT OF CRYPTOCURRENCY IN SHIPPING INDUSTRY
IMPACT OF CRYPTOCURRENCY IN SHIPPING INDUSTRY
Name of the Student
Name of the University
Author Note

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).

3IMPACT OF DATA MINING IN AUTOMATIVE INDUSTRY
 Password maintenance has been one of the major benefit as per the performance of
the shipping process. Hence gaining of a scalable performance is a major aspect that
will provide higher benefits in the shipping industry. With the help of the crypto
currency, the main aspect that considered is that the password that is implicated in the
process gets better understanding of the data sets and hence management of the
project password is performed and hence safety of the data is performed. This ensures
that transaction of the data will get performed in a manner that proper management of
the data transaction will get better.
 Decision making process gets benefitted as the data analysis section of the report gets
performed in a disruptive manner.
Part 3
Market: Crypto currency is new to the industry hence acceptability in market of this
technology has been very high. However data storage has been the major concern. Privacy
issues are present in the section,
Law: A separate set of laws are introduced for the processing of crypto currency. This
separate set of laws will enhance proper management of the shipping processes as per the set
of laws.
Architecture: Presence of Full node, mining form, mining pool and third party wallet
are considered as the main entities of the architecture. Trending exchange process is also
implemented in the architecture.
Norm: storing of data without the permission of the people are the main ethical issue
that is present.

4IMPACT OF DATA MINING IN AUTOMATIVE INDUSTRY
Part 4
Before implementation
Events
In the initial days before the attendance of the crypto currency, the main feature that is
occupied into deliberation includes the fact that proper shipping process was in process and
no tracking of the data could have been made. Hence management of the entire process gets
difficult (Fomin, Burlutsky and Fomina Yu 2015).
Activities
Processing of the shipping industry includes placing of order. After the order is placed
the main issue that is contemporary embraces the fact that data regarding the order is
collected manually and then shipping process starts. This shipping process guarantees the
datum that improper accepting of the location of the shipping process affects the functional
process of the complete project (van der Vegte 2016). This again guarantees that better
dispensation of the data management section of the project gets hampered.
Decision points
Decision points present in the section is unclear. This lack of clarity induces the fact
that decision making process gets hampered and lack of efficiency in the decision making
process harms the shipping processing. Hence it can be stated that the decision points are
inefficient.
Actors
The actors of this project includes the shipping team, the sender of the shipped
product and the receiving stakeholder of the entire process.
Outcomes

5IMPACT OF DATA MINING IN AUTOMATIVE INDUSTRY
Inefficient outcome of the project is received.
After Implementation
Events: After application of the crypto currency the main feature that is performed
includes the fact that better processing of the data tracking process is to be performed. This
ensures the fact that proper data management of the shipped product can be gained (Ge, Ding
and Huang, 2017). This ensures that better decision making can be made and hence
increasing the efficiency of the process.
Activities: collecting of data set, during the shipping period. Analyzing the same.
After performing of the analysis section, the data are tracked and hence real time tracking is
performed and hence proper data generation is made. Storing of password have been a amjor
aspect that provides better understanding of the deliverables that are kept safely with the help
of the passwords. Hence this storing of the password ensures that better transaction process
can be performed.
Decision points: Highly efficient decision making can be performed. As per the aspect
of data analysis feature, decision making process has got better (Vovchenko et al, 2016).
Actors: The actors of this project includes the shipping team, the sender of the
shipped product and the receiving stakeholder of the entire process
Outcome: Efficient outcomes are expected.
Process model diagram
Without crypto currency

6IMPACT OF DATA MINING IN AUTOMATIVE INDUSTRY
Figure 1: Process model diagram
(Created by author)

7IMPACT OF DATA MINING IN AUTOMATIVE INDUSTRY
Data mining implemented
Figure 2: Process model diagram
(Created by author)

8IMPACT OF DATA MINING IN AUTOMATIVE INDUSTRY
Transcription
Hi, the video is created regarding the topic of business management of the shipping
industry. This guarantees that better functional dispensation of the project can be understood.
This has been a major reason that decision making process was projected with higher
efficiency. The digital disruption ensures that the shipping industry decision made by him.
Hence usage of the crypto currency will help in better data handling. With the help of the
implementation of the crypto currency the decision making process also gets benefitted and
hence implementation has been getting the passwords enhanced. This is the main reason that
proper management of the business processing of automotive industry will be getting
beneficial. Manual data handling is also considered as the major aspect of the data analysis
processing. Manual data handling is also considered as a major disadvantage that affects the
functioning of the automotive industry before implementation of the crypto currency. After
the implementation of the crypto currency, real time tracking can be implemented. Proper
decision making is also performed which benefits the functioning of the automotive industry.

9IMPACT OF DATA MINING IN AUTOMATIVE INDUSTRY
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