The decentralization part comes from the blockchain i'm assuming. Same as every other coin. It's in the fact that everyone has a copy of the ledger and not one single person is in control of the money. I don't think they really meant that the coin is a democracy that people can vote on to make changes.
I myself would like to tell the OP that every token as of today is decentralized even other were back up by banks it doesn't mean it is already centralize since even the bank can't control the flow of the token's price.