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What is decentralization exactly mean?

Posted: Wed Jul 12, 2017 11:24 am
by kevinmax
Is it a process of redistributing the functions of all the sectors? And making one as authority or taking everything from a central location?

Re: What is decentralization exactly mean?

Posted: Wed Jul 12, 2017 8:12 pm
by buzz
Decentralization is the process of redistributing or dispersing functions, powers, people or things away from a central location or authority. While centralization, especially in the governmental sphere, is widely studied and practiced, there is no common definition or understanding of decentralization.

The meaning of decentralization may vary in part because of the different ways it is applied. Concepts of decentralization have been applied to group dynamics and management science in private businesses and organizations, political science, law and public administration, economics and technology.

Decentralization examples:

Bitcoin: It is used the blockchain encrypt technology that able the global buyers to buy the Bitcoin currency online without any government and central bank interfere. The digital currency based on a chain of security key stored in your computer or offline paper, you can use Bitcoin to buy and trade online to the merchants who are willing to accept the digital currency. OpenBazaar costs nothing to download and use. There are no fees to list items, and no fees when an item is sold. Because the trade is p2p (peer to peer), it’s happening directly between buyers and sellers with no middleman to take a cut from each sale. It’s completely free e-commerce, the currency is based by Bitcoin now.


Hope that help!

:ugeek: :geek: