Decentralization

Decentralization refers to the distribution of authority, power, or functions away from a central authority to various smaller or local entities. This concept can apply to various contexts, including governance, organizational structures, and technology.

Decentralization has been a major talking point in the last decade as more and more businesses are moving away from centralized powers. The shift towards decentralization comes with many benefits. Some of these benefits include and are not limited to:

-Increased responsiveness, Enhanced innovation, Reduced risk of corruption, Improved efficiency, Empowers the individuals, Scalability and more.

Although decentralization has many benefits, it may also present a few challenges such as coordination and consistency. The effective management of a decentralized entity is crucial to its success.