Absolutely yes, this is because democracy has to do with representation of a group of people which often times, leaders wouldn't be able to represent the true need's, interest or will of the people,

Whereas, decentralization in the blockchain technology, the act of standing as a middle man is totally abrogated. This is because the  blockchain;  stipulates a decentralized ledger that deals with the inflow and outflow of transactions, devoid intermediaries.

Therefore, this is the advantage of a decentralised system over democracy.