We're not really represented either. The ratios of Congress-critters to citizens are so high most people don't know their representatives, and the representatives certainly don't know those they supposedly represent. So it's essentially taxation without representation as well.

It cant be like anything we have imagined before, must preserve human freedom, happiness, and common defense, be incorruptable, etc, etc. We might already have it with bitcoin and just can't imagine the implications of hyperbitcoinization.