Crypto Academy Season 3 Beginners’ Course-Homework Post for Task 2:By @yousafharoonkh:Blockchain,Decentralization,Block explorer

INTRODUCTION
hello everyone hope you are doing great.
I would like to take this opportunity
to thank @yousafharoonkhan for
giving us this opportunity to
participate in the contest because
these contents that we keep
participating in help us to know more
and how to use the various tools on
the steemit platform

Today I will be taking you through
my own understanding of the term decentralization and it’s various
advantages and disadvantages

HOMEWORK TASK;
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)

• DECENTRALIZATION
  Decentralization is the pushing down of authority and power of decision making
  to lower levels of the organization

source

In decentralization there is delegation
which plays a role of a pace maker.

• Delegation refers to the process
  of giving out some of your powers to
  another person also known as the
  subordinate

  Delegation makes the subordinate
  feel that he or she is important in the
  company or organization.
  Under decentralization, the central
  unit of a company or an organization
  distributes responsibility and
  accountability authority to the
  regional and local units that are
  away from it.

Decentralization involves in delegating
powers to subordinate and these
subordinates get full power and
responsibilities from the delegator ,
and they must be empowered to
take decisions connected to the
various fields of activities and must
be responsible for there fields.

The arrangement of delegating some
powers to the subordinate is known as
decentralization of authorityand
these powers are delegated by the top management to the subordinates in other
words, decentralization is the opposite to
centralization that’s to say, where there
is no concentration of authority instead
diffusion is planned and executed.

In decentralized organization, there
is dispersal of decision making authority
which means greater powers to places
and persons away from the centre while
in Centralization, decision making
authority is vested in a few hands at the top

Disadvantages if a decentralized system

• Difficult to control
  Decentralization is difficult to control since different units work independently therefore
  it becomes difficult to control the various activities running

• Lack of Co-ordination
  Under decentralization each department or sections has substantial powers that’s to say they have powers to formulate
  there own policies and tasks therefore
  it becomes hard to co-ordinate all the various policies and segments.

• Costly
  Decentralization system is very costly
  and involves heavy expenses.This system is only suitable for large scale enterprises therefore small scale business units can’t afford the system because it’s very costly to handle.

• lack of qualified managers
  The system may fail if qualified managers are not available to run the various activities in the different fields. The system will only succeed if only qualified persons are employed to manage or handle the various jobs in the different departments

• Decentralization is very slow during transaction time forexample transactions occur per second and this is because all codes need to be validated and approved during the transaction process before the transactions are confirmed hence leading to slow transaction time.

• Conflict
  These conflicts arise due to independent decision making hence creating a bad experience or environment for other persons.

Advantages of a decentralized system

• Management development
  In a decentralized system, when powers and duties are decentralized the lower managers have opportunities to develop their skills and talents in the departments they are well versed with.

• Profit centers
  Dispersion of location of various departments will help a lot for operating units hence making them profit centers. The organization divides various departments on a product basis and each division is given the management tools and facilities that the department may require or need to operate as an inter grated and self contained unit

• Decentralization system helps in decision making for example subordinates learn the best art of management as they exercise decision making authority thus facilitating the development of potential managers

• Decentralization system reduces the burden of top managers or board for example the top managers delegate work to there subordinates and therefore the executives devote more time and attention to policy co ordination, control and other vital issues

• Decentralization system facilitated diversification
  for example it facilitates the growth and diversification of product lines which consist of a variety of products , decentralization brings in best results in the company or organization

*Higher motivation
Participation, communication and delegation leads to willingness to take responsibility in the various departments by the subordinates

• Minimizes risks of a business
  A decentralized system minimizes risks of the business by separating them over a number of units

• Decentralization system promotes effective control thereby judging performance of each unit, profitability and the rate of return on investments

• Controls fraud
  Decentralization helps in making data readily available for all users to protect sensitive transactions hence controlling fraud

• Security
  Since it’s impossible to change the information displayed on a decentralized system, this makes the data safe from manipulation

• Efficient communication
  information is readily available and there is no limitation on interactions therefore you can interact at any time that you wish .
  You can also negotiate because on the decentralized platform a trader has a better negotiation for trade with out an argent or third party

• Decentralization system is always on time and speedy for example transactions are done in an efficient manner which saves the users from transporting money since it’s quick

In what areas of life can a decentralized
blockchain be helpful?
The decentralized blockchain can be helpful in the following areas

• Health sector
  There can be transparency in health sectors when the decentralized system is applied forexample a doctor treating a patient that has been visiting various hospitals in the city or worldwide will have access to the data of the patient and the medicine that the patient has been taking while sick this is done through the decentralized system because the information will been displayed in the platform and this will quicken the doctors time as well at the patients
  Health system also makes it easier for health workers to provide information or access information from other health departments from different countries forexample a doctor can put information on the platform and other doctors can read it and also apply some ideas that they might not have known before

source

*Banking
Banking involves transactions where by people take there money to various banks to keep it safe and for future use
There are various banking strategies that make it easier for the bank and it’s clients thereby easing on the monetary transaction process

• It helps in limiting fraud
• It’s convenient to the clients
• It quickens banking transactions

source

• Voting
  Decentralization system helps in voting or electoral process fore example rigging of votes will be hard during the electoral process if decentralized system is applied that’s to say the votes that are cast can be seen or viewed by everyone therefore votes can’t be transferred to a different person that was not voted for that’s to say in Uganda 🇺🇬 in January this year we voted for the president and the votes were being displayed on various platforms so there was no rigging of votes because a decentralized system was employed or applied.

source

• Taxation
  Taxation becomes easier to handle with the decentralized system since most transactions can easily be accessed

source

• Robbery of land
  This is very common in my country as rich people tend to grasp land from the poor people because they have a lot of privileges compared to the poor and the rich people are confident enough that even if the case is being filed in courts of law they will still win the case
  Most people print fake land documents and it’s mostly done by the rich people but the decentralized blockchain system will make every transaction involved in land to be transparent to everyone that’s to say it can be seen by everybody there by eliminating fraud

source

In conclusion,decentralization is a process by which the activities of an organization especially those regarding planning and decision making are delegated away from a central location or group