Steem is decentralized, which means no one "is in control". Steemit is only a company and they hold 43 Million Steam Power.
Which is a lot of the current supply, but all they can do is tank the price with that much steem. It is supposed to be used to develop the platform, but it seems they are not really doing much these days.
Other than that they don't have much influence on the blockchain. As @ned said: "Steem will be fine even when steemit is gone."
The witnesses are only as good as their reputation. Once a witness wants to be a bad actor. They will simply lose votes and the next witness in line will be very happy to take their place and the steem reward. So the witnesses are very dispensable. Not an issue!
@dan has put @ned in charge of the business.. Dan is a creator and does not tend to stay long after the projects are up and running. Known to move on quickly.
@dan is more focused on EOS and making steem 2.0 to be an issue.
If there was a point of failure it would defeat the purpose of this thing. We have only seen the strength of the platforms decentralization.
And I am sure it will continue to be successful into the future.
First, Steem is different from steemit.
Steem is a Blockchain that depends on witnesses to keep running smoothly.
Steemit is private company that owns a lot of Steem and is headed by @ned
For Steem, the bigger your steempower, the more influence you have on the blockchain. So in a way, the large stakeholders are in charge (with steemit at the fore)
But then, what gives Steem it's value is it's users. So even the large stake holders need everyone for their stake to have value.
So in another way, everyone owns Steem (to some degree)
@Jesmin30, In my opinion, when it comes to implementation of changes in Blockchain is done by Witnesses and the majority of influence hold by the top 20 witnesses, but the biggest role is played by all Steemians and their witness votes because witness votes can boost the Witness Rank, Witness votes can bring the changes in positions of Top 20 Witnesses. Stay blessed. 🙂