Hive just like other decentralised platforms are systems where no one(individual, group or organization) controls the actions and inactions in terms of decision-making. As the name denotes, the system is a shift from a centralized system where users have the power to take decisions without any restrictions. In a decentralized system, no central authority has the right to pull you down or dictate to you because they do not have oversight responsibility over you. This is more like localised confinement where individuals are entitled to their opinions without being censored or muzzled.
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Areas Decentralize Blockchain can be Helpful
Due to the robust nature of the system, it'll be good if Nations and States adopt it as a tool for elections since the system is impossible to tamper with, it would be good if it is adopted in other to stop rigging during electioneering.
The economies of various States can be diversified through the adoption of decentralization. This would do away with the oversight responsibility of the Central Bank and allow localised transactions where users are the bosses on their own without any restrictions.
One key area that should see the light of decentralization is the public sector where everything is either centralized or bureaucratic. Government documentation and access to basic services cannot be accessed without bribery and corruption thus, bringing in decentralization would help curtail such nuisance.
In a centralised system, all users' data is transferred and stored in a centralised database where third parties have the right to restrict, block or allow access to your own personal information. In a decentralised system, there's nothing like a central server where users' information is stored. Rather, several computers served as the servers that store users' information which no third party can have access to.
Importance of Decentralize Blockchain
It leads to efficiency and flexibility where users work independently thus, maximizing outputs and gains. In effect, users are able to innovate and come up with strategies that best suit their working environment and conditions since there is no central authority serving as a bottleneck.
The system is robust and difficult to be taken down by hackers since data and information are not stored in one central database. Because the system is localised, it is almost impossible to hack and steal users' information.
Thy system is democratic and does away with monopolization where few people own and have access to data and resources. The decentralize system de-monopolises wealth and re-distributes it among users instead of a few people in the centralised system.
The decentralised system also allows users to express their will without the fear of reprisal attacks from authorities. This in effect, helps the marginalized to express their opinion on issues affecting them be it finance, politics, environment etc.
The system is designed to be transparent where corruption secrecy is eliminated or minimized because it can trace and narrow down into specifics where money is spent or disbursed.
Let's continue to learn as newbies and contribute to the development of the platform.
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