Why does democracy need checks and balances at all if the government is fundamentally accountable? Some portion of the answers to the objection that cryptocurr

Why does democracy need checks and balances at all if the government is fundamentally accountable? Some portion of the answers to the objection that cryptocurrency increases the level of unaccountable power seem to be being met with "but look how unaccountable power is now", which misses the power. Boy, yes, power is pretty unaccountable and those with their hands on the levers of power seem to be the wealthy. Those who benefit from cryptocurrency are also the wealthy, who can use this along with the other levers of power to increase their influence and increase their wealth. There's counter balance to the power of Fed here.