Understanding that study, analysis and training must always be continuous, we never finish learning, because every day we will learn something new that will broaden and enrich our knowledge. I want to emphasize that this class by Professor @yousafharoonkhan broadened and increased my knowledge regarding blockchain, decentralization and block explorer, clearly I have done studies and research on the web to understand more these topics.

In this assignment I will focus on question 2, decentralization, I think decentralization implemented in the right way with skilled people will improve the quality of life for all people. A decentralized system is a system that cannot be controlled by a single person or central entity, this system was achieved through blockchain technology.

Through the elaboration of this assignment, I will explain what decentralization is, advantages and disadvantages, and in which areas we can implement it.

(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)

Decentralization

When we talk about a decentralized system or a decentralized exchange (DEX), we are simply referring to a cryptographic platform that works through smart contracts. This means that the management of assets or funds will not be under the responsibility of a central entity, it is the users themselves operating on the platform that have full control of their own assets and allowing them to manage all their funds themselves.

Advantages

These are some of the advantages of a decentralized system:

• Decentralization offers and delegates power of decision making directive to others and this will allow them to participate.

• It offers the possibility of avoiding and eliminating fraudulent and corrupt operations, since this decentralized system is totally transparent and more secure.

• Operations through this system can be executed anywhere in the world.

• Another advantage is that decentralization provides protection and security of the data that is stored in the system storage, this to prevent hacker attacks.

• Each user or citizen can use his funds (money) both to buy and sell, each one can perform the operations of the system.
  operations whenever they want without the intervention of third parties.

• This decentralized system also allows users to make their own decisions and have the freedom to execute their actions.

• Here the central entities cannot dominate over the users or citizens because they will work independently, there would be no dependence on third parties.

• It offers transactions at low cost and is also fast, and this is worldwide.

• It provides transparency because we can see the operations carried out in the system.

• Third parties will not be able to enter to access our data stored in the system.

Disadvantages

• By giving users independence and their own decision making, taking into account that many do not know about finances and do not know how to manage their funds correctly, this results in others coming to deceive them and committing crimes by stealing from others.

• It is necessary that trained people work in this system, this is to avoid transactions to non-validated or incorrect accounts, since it is not possible to recover the transferred funds.

• As I mentioned before, there are people who do not know how to make decisions and for this reason are not trained to perform tasks or operations within a decentralized system, the consequence of this is that they make mistakes bringing with them great losses.

Areas in which we can implement a decentralized system

The decentralized system can be implemented in many areas of our lives for our benefits and improve the quality of life, taking into account that it is very important that those who manage this system must study, learn and train to work in the system to avoid errors or losses.

Here are some of the areas in which it would be of great benefit to implement a decentralized system:

- Payment Systems

If we have studied a little more in depth the subject of cryptocurrencies, in the case of Bitcoin we will know that this is the main idea of this crypto "the implementation of a decentralized system" to avoid the participation of third parties and thus eliminate the high costs of transfers, since through this system, transactions to anywhere in the world are low cost, and in some cases are free, and are fast regardless of the distance.

The big problem with a centralized system is that these entities have total access to all the information of your bank account, the transfers you make, the payments you receive, and even more serious if they get the password to your bank account or worse if they hack the centralized systems, these hackers will have total access to the data of your account and other citizens. Also when the centralized system fails you will not have access to your money.

What a decentralized system seeks is that only you have access to your data, which will be stored in a blockchain, and applying a secure way to store your passwords this will allow that no one can have access to your data, and also that you can use your funds when and how you want to use them because you have full control of your assets.

- Health Sector

In the health sector, implementing a decentralized system would be a great help that would benefit patients, for example if a patient needs to be treated by several doctors in different countries, and this patient cannot move, with this system could be stored in a blockchain all the patient's medical history and the list of drugs supplied, all the patient's medical study, all the necessary patient data, and this will allow doctors in other countries to have access to all this information.

This decentralized system will allow the health sector to expand, achieve more autonomy, so that these patients who need to be seen by specialists in other countries, and these doctors will have access to all the information without having to travel, and there are patients who are not able to travel either because of their health condition or lack of money.

- Governmental Voting

We know that the current electoral voting system of a government can be manipulated or fraudulent, since this system is hackable. What a decentralized system offers goes beyond the electoral system, since this decentralized system provides the security that it is impossible to change, modify or transfer a vote from one candidate to another candidate, and this is because when you make a vote it is stored in a block chain, which will prevent it from being changed, and after this vote is stored in the block chain you can not do anything more with that vote, just wait for the results of the voting results.

- Land Revenues

To avoid document forgery, corruption and theft of land areas, a decentralized system can be implemented that will record the data of the documents of the owners of a land, this is a secure record because it will be stored in a blockchain that will be impossible to forge. This way they will not be able to take away the land from the poor, and the only way to obtain land will be to buy the land that is for sale.

This decentralized system will remove and eliminate corruption and forgery of false land documents. I believe that this system will benefit all landowners.

Conclusion

For the future, it is expected that decentralization will achieve autonomy in different areas, so that the quality of life will improve and not continue to worsen, corruption will decrease, hackers will no longer be able to hack, and many other benefits we expect from a decentralized system.

In my personal opinion, I believe that the implementation of decentralized systems will bring many advantages, but it is important to keep in mind that if we are not trained, for example in the management of our funds (assets) we run the risk of being victims of fraud. So it should be with all areas if we want to be participants in the decision making process we must study and train ourselves.