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Table 1 Banks and payment organizations vs. Bitcoin on their forms of organizing

From: Bitcoin and the rise of decentralized autonomous organizations

Goal Provision of a payment system
Banks and payment organizations Bitcoin
Mechanism Centralized hierarchies Mining: competitive bookkeeping
Task division Centralized task division by job descriptions/definitions, divided by formal organizational structure Task division is based on the criterion of computing power dedicated for mining, and is automated by the blockchain software in a decentralized fashion.
Task allocation Assigned by formal hierarchies Miners self-select into the network. However, competitive bookkeeping only allocates ayment validation tasks to the winning miner (essentially chosen at random, though the probability of winning is proportional to computing power committed).
Reward distribution Defined by formal compensation/incentive programs. In general, reward schemes are not publicly available. Automated, randomized, transparent. Linked with task allocation through competitive bookkeeping.
Information flow Centrally controlled by organizational rules. Inconsistencies can persist across teams, divisions, or subsidiaries. Transaction history is recorded in the blockchain, which is publicly auditable and immutable. Information is distributed among network nodes and machine consensus ensures all nodes have the same record.