The key promise of blockchain is simple: to create a decentralised and democratic system that would empower the masses. Yet, as the technology matures, it has become increasingly possible that it could lead to the creation of a new elite. If left uncontrolled, the rise of plutocracy in the blockchain industry can become quite a concern as it threatens to undermine the original ideals of the technology. Blockchain-based systems promise to create trust, transparency, and security. However, the ...