Decentralized governance refers to a system where decision-making authority is distributed among various participants rather than being concentrated in a single central authority. This approach allows for more local control and participation, enabling communities to have a greater say in the rules and policies that affect them. It often utilizes technology, such as blockchain, to facilitate transparency and accountability. In decentralized governance, stakeholders can collaborate and vote on issues, leading to more democratic processes. Examples include blockchain projects and cooperatives, where members collectively manage resources and make decisions. This model aims to reduce corruption and increase responsiveness to community needs.