Homework Task:4

(2) Define decentralization. Describe the advantages and disadvantages of a decentralized system. In what areas of life can a decentralized blockchain be helpful? (write in own words)

Question 1

Decentralization

The word decentralization came from power amd authority which is the conceptual material to understand it. When authority and power are scalable to every individual and every individual has the power to perform the work in their own mean and elimination of central authority is observed.

Likewise the cryptocurrency bases and fundamental essence is based on decentralization where every individual is free from tri party concerns though trading are just encrypted and decrypted between traders. The best example for decentralized system is crypto where every trader are free from central authority and are in ostensible authority every trader can buy or sell without means of banks.

Centralization:
Lets talk about some centralization which is opposite of decentralization where order are derived from top to bottom and a pure bureaucratic approach are observed. The best example is organization where unity of command and centralization are applied system are perform by the individual in a systematic and scientific manner thus every individual are bound with each manager and accountability and authority lie between top apex.

Some world wide examples:

These examples are mostly termed as the best decentralized systems whilst the other are contingent toward centralized system.

European union
Steemit
Cryptocurrency

Advantages and Disadvantages:

Advantages:

✓ Decentralized system enhances delegation of authority and reduces the work for top managers.

✓ Where the decentralization occurs flexibility also arises where the decision and planning are more efficient every one is contributing in work with authority.

✓ Individual attempting work can increases efficiency and experience boost becuase of authority.

✓ Decentralization can promote diversification because the business need authority and power to remain stable in different locations thus decentralization can increases such business efficiency.

✓ Barrier of communication is reduced because every individual shares the means and ideas with each and evey one also they have power to justify their and implement their ideas.

✓ Reduced cost as cryptocurrency is decentralized no tri party is engaged thus cost lessen can observed.

✓ In trading traders are free from centralized banking system which seems costly to them.

Disadvantages:

✓ Jack of all and master of none phrase might fixed in decentralization because no Division of labour is seen and people are doing things in their own means.

✓ No bureaucratic approach is observed here every one is doing thing in their own means thus it will create monoply.

✓ Hence authority is dispersed and no correlation between person are seems thus might create bug problems in organizations or in trading too.

✓ People are free from tax and other governmental rights are neglect.

✓ Different managers have different approach or traders having different approach thus imbalance the market and organizations thus leads to conflict.

✓ Traders would drift the market in their own means proper mentorship and central authority might control such things.

Although i believe in balance approach, where some centralization and decentralization both plays parralel role attempting each system where it required might increase the efficiency and effectiveness of trading organising leading and controling.

Areas where decentralization means

The blockchain decentralization had change the world completely just like japan had done with technological tools and parralel to it artificial intelligence which are new technology in modern world, hence blockhain has also the vital roles in many aspects of life education healthcare and banking every where the potential of blockchain had induced its waves and improves the Scalability traceability and security issues. The wide range of blockhain decentralization might be seen in crptocurrency where the traders feel secured from their transactions and multiple trading process as you all known. Some of the core areas where the blockhain had furnished and improves the building blocks of systems are under as;

Lets make some bullet points where the use of blokchain is wide;

Banking and finance: Blockhain technology eliminates the banking system totally and captured the financial markets quickly. All the trouble and monopoly of banks are come to end by this everlasting technology. Just like emails did, thus using blockchain financial assistance people are cost effective and its fees are also appropriate that every one are satisfied and encourage blockchain becuase of less time consuming secured and better working in safe environment thus ease of work by just on click your transactions are done. Although banks hold your money and limits issue also arise healthy transaction took lots of time due to verification and other immaterial facts verification though using blockchain you are free and decentralized to do any transaction by your means.

Organizational Decentralized blockchain structure: The organisation are now moving towards smooth and balance structure where the team work effort and negotiations are mostly implemented to done work. The structure of bureaucratic and rigid rules are demolish by the modern concept, although working is based on decentralized structure every individual is working by negotiations bargaining with managers and attempting the work as a whole team. The decentralized structure helps to empower creative ideas and maneuver them in organization which pull the organisation towards success, since creativity means alot and this would be possible only if employees have authority to think and their opinion must be prior towards organization, so in centralised structure this won't happen but decentralization provides you the platform to admire your opinions

Although blokchain activities are also implemented in organization they adapting the modern techniques of blokchain by using financial activities and other blockhain tools do done the work.

Government and decentralization Blockchain: The decentralized structure in government seems to be good Implementation because every citizen having thier own mental approaches and feelings. Selecting the government in their own means and wish are their right thus decentralization blockchain concept are same every individual is free to do what he wants but their should be governing body where the imbalance activity are controlled, though in many countries this would acted and supportive feedbacks are also redeemed it also reduces the coercive act by governmental bodies.

Education and blockchain decentralization: Blockchain technology can be effective in education also by holding the Transparency data captured and reduces the lacking which might be seen in educational sectors very much. Though by implementing blokchain will creates the traceability scalability and flexibility in educating the students there are lots of thing in educational sector where blokchain decentralized structure can easily capture and turn their false hospitality in to constructive approach. Like conducting results in traceable manner, funding the staffs and rewards scalable way without third party involvement and approval of delegation authority in decentralized manner and with proper apex can change the educational system easily and reduce corruption.