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Decentralization

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This is such a system. Before we know this system, we know about Centralization. If we understand this, then we will have no difficulty in understanding Decentralization. Centralization is a system in which all major decisions are made by the central authority. No servant can change it at his own will and no decision can be made at his own will.
For example, we take the example of a company that has a CEO and he make all the major decisions of that company and the other employees working in that company support those decisions, which the CEO. These employees cannot make any decisions on their own. All decisions regarding company are made by the owner and CEO of the company.

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Now we have to understand Decentralization. This is a system that is opposite in behavior to the centralization system. There is no central authority in this system. In this system, every servant can make his own decision. Not everyone is bound to make decision. In this system, everyone is independent. In this system, everyone can speak freely. In Decentralization System Everyone has the right to decide. In Decentralization system, everyone has the right to decide. For example, we take the example of a journalist. A journalist can speak freely, he is not bound by anyone's opinion. Other than that, Steemit is a social media platform where we give you freedom of expression. On this platform we can express our views as we wish. We have no restrictions. But on the contrary, if we upload something irrelevant on social media platforms like Facebook and YouTube, we are afraid of closing our account. Because we did not upload our content in accordance with the YouTube Facebook policy, our account may be closed.

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Advantages

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• The security of the data stored on the system is very high and no one can easily steal and change it.
• There is no possibility of any fraud in this system as it is a system in which all kinds of activities are kept transparent.
• Decentralization system has made it easy for us to transfer our data from one place to another.
• The faster all types of transactions are executed in a Decentralization system, the better its performance.
• In this system, every servant is independent, he does not need anyone to make any decision.
• The Decentralization system gives equal power to all people then everyone can use it according to their ability by highlighting themselves according to their ability.
• We don't have to wait for a specific time to do any work, we can do our work at any time.

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Disadvantages

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• If a person misuses the Decentralization system, it can cause a lot of damage.
• If a person expresses his wrong ideas and beliefs in terms of freedom of expression, it can lead to confusion.
• The Decentralization system requires a lot of capital to run, as well as intelligent people who can make good and profitable decisions.
• If our remitted money is sent to any other account besides the desired account, it becomes impossible to return it.

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In what areas of life can a decentralized blockchain be helpful?

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Online patient record

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As we know that most of us suffer from some kind of disease, big or small, and we have to deal with medicines and different doctors on a daily basis. When we go to another doctor, the doctor does not know which medicine the patient has taken before and has not recovered. The doctor starts the treatment from the beginning.
So using Decentralization system to solve this problem can be very beneficial if we store all the information of patients about any disease and medicine on this system and all this information will be transferred to all the doctors. Will be detected automatically. This way the doctor will prescribe some new medicine in addition to the one already given. And so doctors will be able to easily diagnose the disease.

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Land Registry

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Decentralization system can be useful in land registry as we all know that due to lack of transparent data of registry many powerful people claim to transfer land in their name by making fake land registry papers. To solve this problem, everyone on the Decentralization system will have a data transfer that everyone can see. In this way, it will be clear to everyone who owns this land and, in whose name, it is registered. In this way, we will be able to prevent illegal land registry incidents.

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Banking Sector

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Decentralization Blockchain system proved to helpful when we applied Decentralization system in Banking sector. It reduces the corruption cases and other issues in Banking sector.

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Save Money Transfer Taxes

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When we transfer our funds through Decentralized Blockchain network. This system charge few amount of tax which is negligible. This system is helpful for saving the transferring tax.