true democracy? you mean true capitalism.
democracy is where every vote has the same value, it's like totally the opposite here.. ;-)
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true democracy? you mean true capitalism.
democracy is where every vote has the same value, it's like totally the opposite here.. ;-)
Technically democracy and capitalism are not comparable to one another, one is a form of government and ruling style, the other is a type of economic system.
The Steem brand is owned by Steemit Inc, but the Steem blockchain itself is decentralised and run by the witnesses. Steemit inc couldn't shut down the blockchain nor do they control it, the steemit.com website could be shut down, but you could just use busy or the trove of other UI's.
Capitalism is based on the concept of privatisation and and a free market. Given that witnesses are elected by anyone with a Steem account who casts a vote, that's democracy. Those in charge of maintaining the Steem blockchain are elected by everyone.
Make no mistake, this is a democracy in terms of how things are run governance wise. If you're talking economically, well that's a different story for sure.
Nicely put.