Bitcoin is a decentralized digital currency introduced in 2009, often utilized as a medium of exchange and a store of value. Unlike traditional currencies, it is not backed by any government or financial institution and can be 'mined' using specialized software. Transactions are recorded in a public ledger with anonymized identities, leading to debates over its potential use in illegal activities.
The delegation of decision-making responsibilities to the subunits of an organization. The advantages claimed for decentralization are that local managers are more aware of immediate problems, are better motivated, and have greater control over local circumstances. The disadvantages are the possibility of wasteful competition between subunits, duplication of services, and the loss of central control and access to information.
