My name is Muhammad Salman Javed from Pakistan. I am Software Engineer by Profession but I love to Writing and Public Interaction. I love to meet and work with different people. As My complete Introduction is here

Today i am very excited to attempt my Homework Task # 04, given by Crypto-Professor @yousafharoonkhan. Task is related to BLOCKCHAIN DECENTRALIZATION. During the preparation of this task i have learned many new concepts and new things.

Decentralization is a big term this word have conceptual background and used for the control, management and decisions making in a Structure.

Decentralization is referred as a form of structure without the central control usually which we see in many organization that there is a central body which controls all the resources, they are responsible for decision making and have all the powers.

In the Crypto World Decentralization is defined as the system of block chain without the existence of central control where every member of block chain has power to make their own decisions and he is free to do anything he wants in term of his work. And all these decisions are not controlled and governed by any central body.

We can define it as when delegation of power and decision making in a structure is expanded on a lower level without a central control it is called Decentralization.

Advantages of Decentralized System

There are some Benefits of this system are given below

1. Better Decision Making

In Decentralized system because no central power involved then decision making is quick and without any delay, which throw better impact on performance.

2. Confidence Building

By delegation of decision making power and trust on lower level increase the confidence level of subordinates and they feel more energetic and perform their day to day operations better.

3. Development of Managerial Skills

Lower level staff and subordinates got opportunity to improve their skills by the decision making on time and without the influence of central control. This helps them to improve their management skills.

4. Promote Diversification

Decentralization can increases business efficiency and it can diversify the business by delegation the power to lower level because of new innovative ideas came from lower level mostly.

5. Free Form Central Control

In decentralized system this is very easy to measure the performance on every level, and check the performance of people who are accountable for that, control is not on central level then it is easy to manage all the places of work.
In Crypto Market traders are free from centralized banking system which cost more to them.

5. Effective Communication

Decentralization reduce the gap of communication, it broke the communication barrier between top level and lower level in a structure and everyone is free to share their thoughts and ideas for progress.

Disadvantages of Decentralized System

There are some Disadvantages of this system also which are given below

1. Policies Implementation

In Decentralization system there is difficulty to implement uniform policies in all over the structure because no central body is there to implement the policies.

2. Increase in Expenses

No central body to manage the expenses this can be leads to the increase in expenses and cost of operations in the structure.

3. Co-Ordination Problem

This can be also problem in decentralization system because everyone is working in their own direction to coordination may be a big problem.

5. Imbalance Of Structure

Due to No central body and control there is chance to imbalance the structure which also leads towards the failure of structure.

5. Delays in Operations

Due to no proper control and central authority Delays in day by day operations may be happened which also cause of cost increase and failure.

6. Misuse of Authority

Lower level can use the power in wrong way because of no central body controlling the power and this misuse of power may be harmful for structure and others in market.

Image Source

Blockchain decentralization has changed the world it impacted positively on the Banking and finance sector, in Trading world and other sectors also. We can see the wide implementation of Blockchain Decentralization in Crypto Market where all the traders feel secure to make transactions without the influence of banking sector and without the monopoly of different government policies.

1. For Improvements in Finance Sector

When we talk about the finance sector the first word came into our minds is related to banks, and in many regions there are multiple policies and rules and regulation.

Decentralized Blockcahin system have thrown a very positive impact on this sector and this can be very helpful to merge the banking sector to global level. This system make sure the security and safety of transactions and reversal, and also saves from the user information from stealing and hacking.

By the help of Blockcahin decentralization we can easily monitored and track our past transactions and statuses this gives us most reliable and secure system.

2. For Improvements in Health Sector

Before the covid19 pandemic health sector was facing many issues due to centralization in different regions, but with the help of Blockchain decentralization it’s improved significantly, by better coordination and records keeping and data management of all the patients and analysis on the basis of the patient history helped a lot to medical care takers and by making a data bank and technical analysis this is the hope to increase the effectiveness of disease treatment.

3. For Improvements in Public Sector

Decentralization Blockchain system can also play a vital role in the betterment of the public sector, by sharing good ideas and effective decision making by lower levels can improve the standards of Public sector. People would be free to make their decisions even in the selection of corruption free government.
And by the trust and transparency across the supply of goods, process of supply items creates a good society and prospers public sector.

4. For Improvements in Education Sector

Blockchain technology can also very helpful in education sector by the good coordination and transparency of data. Student’s Record keeping and data maintain is mess and very tough job all the information can be store in Blockcahin wallets, Lessons and programs can be stored on Blockcahin and easily executed automatically. There are many other benefits also of using Blockcahin decentralization in education sector.

This was about my homework task #04, which was related to BLOCKCHAIN DECENTRALIZATION . I came to know about many new concepts and about the working of Crypto Market, and about the benefits of Decentralization. I also came to know many other new things in this homework task which would be really helpful for me in the world of Crypto.

I hope I would get some good remarks from professor on my effort.

Note : All the Images that i have used have been citied and source have given with every image.

Cc :
Professor:
@reminiscence01
@awesononso
@nane15
@dilchamo