[Decentralization] - Crypto Academy S5 - Homework Post for task 4
Question - 1 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 would be surely mentioned to a particular form of organizational structure where the highest management representative decision-making important responsibilities and daily missions to middle and lower subordinates.
The top management could thus more focus on making major decisions in greater time abundance. Businesses often feel the requirement or various need of decentralization to continue regulation in their mission .
It can be acknowledged as the orderly a piece of work of authority, throughout the many levels of management, in an organisation.
It narrate the various way in which ability to take decisions is allocated among different levels in the organisational grading . In different words, it describe about to the dissemination of powers, responsibility, function away from the main central location.
Examples of Decentralization
Best examples of decentralised profession are supermarket , hotel , Dress showrooms and etc. Because it is next to impossible for one person to focusing on more than 100 branches which have branches spread throughout the world, take an best example of a hotel.
When a specific person holds a branches of hotels as his business, he specifically focuses on using decentralised structures so then local hotel managers and assistants are authorised to make on-the-spot right decisions to handle customers – problems, various complaints and many requirements.
Advantage of Decentralization
1.Efficient during more emergencies - In emergencies, decentralization is having the best-suited choice. For giving an example, if sales are declining, using assets more productively, cutting costs, etc. It takes off the load from the managers, and there is no one person who is truly held in charge for everything.
2.Coordinating will work made easy - With decentralization, work and keeping all the activities on track is very much efficient. Since the right decision-making authority is very much closer to employees, faster decisions will be taken . These decisions are frequently wiser and more exact too.
- Activities are diversified - With
the decentralization, pattern decisions are no much longer burdensome for chief principals as they could be left to middle and supervisory level management. The chief directional can better more focus on most important business goals such as diversification of products, fresh new lines of production, etc.
Disadvantages of Decentralization
Lack of Coordination:
Under going decentralization, each of division or department of the endeavour enjoys the substantial freedom in the expression of policies and action plans. This creates a huge difficult problem of cooperation.Costly:
A very large enterprise can supply the high operating costs of keep going a decentralized set-up. each of the division of the enterprise have to be self-sufficient in each of them respect, e.g.,marketing, accounting, production , personnel, etc. This might not only result in photocopies of functions, but may be also lead to destruction of resources, because frequently one or the other facility remainder under-utilized in each of division.Lack of Able Managers:
A decentralized venture has to depend on divisional managers or supervisor. But it is more difficult to find persons who are insufficiently equipped to run the division independently.
In what areas of life can a decentralized blockchain be helpful? (write in own words)
Health Sector
A decentralized system could make better the health sector. Because at in the present moment a patient is undergoing constant treatment and he have to consult with a doctor from several cities and countries for his important treatment, then it blockchain can reserve complete information of a patient's disease .
land revenue
The secondary very important sector is sales and records. And operating blockchain technology, all the land documentation of any country can be reserve on decentralized blockchain. In such wise , the element of manipulation and fraud in the sector will be completely extraminate.
Politics and elections
Politics is for the encouragement of democracy in each and every country and various people in each and every country take part in the elections but at the time results of the elections are not acknowledge and various proclamation are leveled in opposition the opponents.
Conclusion
Decentralization can make the blockchain world better in various ways. Thank You professor for providing this wonderful lecture.
It was an important lecture about various topics. Decentralization is one of the important topic.