In its simplest form, the quantizer can be realized with a comparator referenced to 0 (two levels quantizer), whose output is 1 or 0 if the input signal is positive or negative. It is also a bit-quantizer as it quantizes only a bit at a time. The demodulator is simply an integrator (like the one in the feedback loop) whose output rises or falls with each 1 or 0 received.