The title is non starter. The problem is that skin ain't in the game, so why vote?
RE: Can Democracy Work If Votes Have No Stake?
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Can Democracy Work If Votes Have No Stake?
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In national elections people vote without skin in the game, although they perceive that they do have skin in the game. To your point, a lot more would vote if there were actual skin in the game.
In blockchain and other smaller, more accountable environments, people have a better understanding of their stake.
So, you are right. The question should begin with whether the stake exists.
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