• Decentralization

To define the term decentralization, we must first understand what it means to be centralized, which means that a central entity directs and governs processes in which all information must pass through the hands of this central so that they are the ones who make the decisions with which everyone must comply. In a centralized system, you are a participant without the rigors.

In contrast to a centralized system, in a decentralized system, all members of the system have the ability to make decisions about the processes that they intend to carry out; in a decentralized system, everyone has a voice and a vote; people say what they think, and their opinions are taken into consideration. Each user has independence, security, and speed in their processes thanks to the decentralized system.

When it comes to finances, banks are ruled by centralized systems, in which a central axis manages your finances and chooses when you can utilize your assets, rather than when you really need them. Furthermore, it charges commissions for each transaction carried out, which can be quite significant in some situations. On the other hand, your finances managed by decentralized systems allow you to use it whenever you need it and in real time, because you are the one who decides on your assets.

Now, if we talk about social networks a little bit, we can say that centralized social networks like Facebook guide your publications according to their owners' interests, and if anybody publishes on a topic that their owners don't agree with, your publication may be blocked. Now, with decentralized social networks like steemit, publications are tailored to your specific interests and needs, and your work is valued so highly that it can even be rewarded if it is 100 percent original, which I think is fantastic.

Source

Advantages of a decentralized system

• It gives each member the ability to make decisions about the processes to be carried out.

• The decentralized system's processes provide security, speed, and confidence to its users.

• You can use your resources in real time.

• The central server cannot change or block the data that is sent to the system.

• The system is based on the blockchain technology.

• The content found in decentralized systems is almost entirely unique.

• Distance barriers vanish as a result of the decentralized system, which allows people to send money to one another in real time and without the use of intermediaries.

Disadvantages of a decentralized system

• The information provided cannot be changed, and if a transaction is completed incorrectly, it cannot be reversed.

• Due to a lack of awareness, many people continue to reject decentralized systems.

• Because there is no centralized axis to lead them, it can be difficult for them to agree on certain decisions at times.

• Users who are unaware of the system may engage in activities that jeopardise their financially.

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

Our daily lives have become more technological in recent years, and we must all adjust to all the changes and developments that exist. If we used to have to go to a bank to find out about our finances, we no longer have to, and if voting in a country used to be done manually, it is no longer the case thanks to technology.

Health sector ​

According to the professor, decentralized systems provide the health sector with significant opportunities to improve the quality of its processes. For example, consider a patient who has misplaced his medical records; by implementing a data with a decentralized system, where medical records of patients across a country are registered, specialized doctors can conduct a patient examination. This seemed to me to be an excellent technique.

Economic level

According to the professor, decentralized systems provide the health sector with significant opportunities to improve the quality of its processes. For example, consider a patient who has misplaced his medical records; by implementing a data with a decentralized system, where medical records of patients across a country are registered, specialized doctors can conduct a patient examination. This seemed to me to be an excellent technique.

Political level ​

When it comes to political levels, it would be fantastic if they were governed by decentralized systems, because this would increase transparency and reduce corruption. At the same time, the government could use the decentralized system to promote programmers and social services aimed at citizens, which would greatly facilitate and provide transparence.

Education level ​

At an educational level, I believe that platforms can be created through decentralized systems that allow students to acquire knowledge based on their interests and needs, similar to steemit in the Crypto academic community, where participants take courses or assignments that they choose and are evaluated based on the content created, and each participant receives a reward after being evaluated.

Conclusion

After today's activity, we can conclude that decentralized systems provide us with many new opportunities in our lives, and it is up to each of us to inquire about new processes. While this issue may be a little complicated for some of us, it is also simple to understand that the centralized systems that have provided us with the best throughout our lives and have actually benefited from us, ma I'd like to thank professor @yousafharoonkhan for his outstanding explanation of today's topic, which made it much easier for me to grasp.

Thank-You

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