Many platforms and blockchains have a transparent transaction system, where if someone has your address they can look up your wallet and all your recent transactions. This allows users to make sure they aren't getting scammed by the developer, or by a potential trader. Having a public transaction system solves more problems then it creates, such as allowing users to verify what they're told someone has, prove they sent transactions, and just general browsing.
Steemit is a platform where this is mandatory, and you have to have a public transactions wallet to be a part of the platform. But Steem itself is also optional. If you don't like how it works, you can leave.
Nice question. Account balance and our trancation are not private for steemit users because steem blockchain bas keep this data to public and we are able to know the upvotes and wallets balance and steem power of others and we can contact them for upvotes and we may know the reputation and power of other people.
we can also check the trancation and power of other people through steemd.com which keeps all our data and it is publicly because if we exchange our upvote then we may see the percentage og upvotes other people do and we may try to make new friends with this feature also.
In my opinion, because steemit is based on blockchain, so all transactions that occur will be more transparent and also avoid money laundry.
Welcome to an Open Public Blockchain. The idea behind an Open Blockchain is that all transaction are readable. Thus making it a more secure and robust as compared to private databases that are prone to secrecy and abuse of power. If every node in the network knows what everyone else is doing, the system becomes trustless. Trust is one of the most vulnerable attack vector, a system without trust makes it more robust. The Bitcoin Blockchain has proven that, while Banks gets hacked and glitched all the time, for almost 10 years now the Blockchain stood strong, chugging along as it's being attacked daily.
The Steem Blockchain is an iteration of such a Blockchain. It learns the lessons of Bitcoin and many other blockchains after it, and created a blockchain dedicated to disrupt the content industry. So you should know that the token part of the Steem (the coins and SMT) blockchain is as robust as Bitcoin (but faster) and yet retains the original edge of Bitcoin agaisnt regular financial systems.
One thing about Bitcoin is that every account and transactions are also visible there. It is just in a computer language that most people find it hard to understand. Go to a Bitcoin Explorer ( https://www.blockchain.com/explorer ) and you can search any address and transaction hashes to see the records.
As for ""anonymity", You should understant that Bitcoin is pseudo-anonymous, much like Steem. Since all transactions are traceable, people have the choice to not reveal their identity by not publicly announce their address, all "anonymity" bets are off if you go "Please donate BTC to me here at .....", which in itself isnt such a bad thing. Some people dont mind the lack of anonymity. You dont need an anonymous account to pay bitcoin for coffee right?
Steem works in the same way. Anyone can create an account "@ncrilbzskdb" and not associate any identity to it. The only difference is that there is more incentive to go public, or at least build a reputation. Which is literally baked into the system.