What is Decentralized System ?

A decentralized system is a interdisciplinary system of study, i.e. cohesive group of interrelated, inter-dependent parts that can be natural or human-made, is a system in lower level component work on local information to get accomplish global goals.

The global pattern of behavior is when an entity is observed to have properties or behaviors which emerge only when the parts interact in a wider whole which is called an emergent property of dynamical mechanism that act upon local components such as indirect communication, rather than the result of a central ordering influence of a centralized system.

For system like decentralization to exist, first there has to be centralized system, The system is existing for long period of time and has been adopted by every bank in this current world like World bank, Bank of America, Reserve bank of India, Bank of England, etc.

The word "centralisation" came into use in France in 1794 as the post-Revolution French Directory leadership created a new government structure. The word "décentralisation" came into usage in the 1820s."Centralization" entered written English in the first third of the 1800s; mentions of decentralization also first appear during those years. In the mid-1800s Tocqueville would write that the French Revolution began with "a push towards decentralization...[but became,] in the end, an extension of centralization."

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