Bitcoin is a distributed peer-to-peer network system. So there is no "central" server and no central issuer. Bitcoins are created through "mining," which involves verifying bitcoin transactions while participating in a competition to solve a mathematical problem. Any participant (such as someone running an entire protocol stack) can be a miner, using their computer power to verify and record transactions. On average, every 10 minutes someone verifies a transaction that has taken place in the past 10 minutes, and he will receive a new dollar in return for his work. In essence, mining distributes central bank money issuance and settlement functions, replacing the need for a central issuer with global competition for computing power. 

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