Hello to the Hive Learners Publish0x Community! Welcome to my blog. It is a nice weather here so I can enjoy the clouds with fresh air. I hope, you are also enjoying the weather and happy days of your life.
Anyway, today I decided to participate in HL Weekly Featured Content Decentralized or Centralized. It is nice topic regarding the present era when people are facing so many troubles due to Centralization in Banking.
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What is Centralization?
Centralization included centralized authority that make decision for whole organization. The whole power is originated by specific banks. The privacy of the customers is always on risk. The decisions taking by centralized authorities can be biased and in the favor of specific groups. Final decision speed is slow and time consuming.
Centralized Bank, Kolar
What is Decentralization?
Decentralization included authority in which each customer did his best for the organization. There is no role of third party. Hence, privacy of the customers is protected. There are less chances of biasness. The Final decision has full control of its customers. There is no need of banking system because it supports person to person (P-2-P) transactions.
Decentralization with Crypto, Traxer
Story that changed my Centralized mind into Decentralized one:
Last month, I made transaction through Bank Al Habib Likited. My withdraw amount was 50K. When I processed my transaction with my ATM Card on ATM machine. It provided me the option, "Sorry, your transaction is failed". I called to BAH Limited help line. They guided me to visit nearest branch for the Solution.
Way to ATM Bank, Aviv
It was new headache for me. I 'm unable to use my balance of 51K Rupees. Anyway, I had the worst need of money hence I visited nearest branch. I came to know there that they required my KYC and thumb verification again for ATM card according to new government policies. Moreover, when I completed the KYC, they utilized my thumb for final verification. After completing verification process, I was expecting that I would be able to withdraw my required amount because it was needed to me urgently. The bank representative informed me, your verification process will complete 24 hours and after that you will be able to withdraw it. I was disappointed because my whole day wasted and I had no control on my money. Here, I was feeling that how one authority that has control on a centralized platform can have control on our assets. Moreover, this authority also shares our verification with government bodies. After this whole panicked situation, I withdraw my whole amount and saved it into my pocket. I 'm waiting for legal decentralized bank system because Crypto is ban in Pakistan where I shall deposit my whole savings.
Crypto Or Bank for Money Saving Method:
Crypto is the best thing for me to save my money. I don't believe in corrupt banking system. It had been seen many times in Pakistan when a bank default in assets the whole saving of its customers got freezed. In crypto, I like the decentralized authority. Moreover, I have full control on my money. Anytime when I needed money, I can withdraw it through P2P transactions.
Leofinance is my first priority where I can invest my money:
After joining hive platform, my most favorite hive frontend is Leofinance. I like its decentralized authority. It can be next thing for me where I can get rid of corrupt banking system that made burden of extra taxes on my saving. Leofinance is transparent finance for investment. It can be next big thing in the Crypto Industry. Moreover, I 'm happy to share my thoughts and ideas freely on Leofinance which is decentralized. The rewards earned from blogging are utilized in further investment by me.
Finally, I 'm happy with decentralization instead of Centralization. Moreover, I 'm more happy with Crypto than corrupt centralized banking system. These both statements centralized my mind across Leofinance. Yeah, Leofinance is the best decentralized platform and leo$ token is the best one for my money saving method.
The sever biasness and high tax system are making bank system useless with the passage of time. Many people like me are accepting decentralized platform for money saving not only in Pakistan but also in the whole world. People want P2P transaction without any thrid party. People want to get rid of high taxes on their money. Moreover, many people are afraid of high profile investigation on their assets by Governments.
This post is my entry in HL Weekly Featured Content. I hope, you have enjoyed my post. Thanks!
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