If we look at the pillars of Democracy then parts can be seen in Holacracy
- the right for initiative: everybody can make proposals
- the right to speak: everybody has equal opportunity to speak
- equality: all roles have the same weight
- but..... in Holacracy we do not use that the majority vote rules. We use the consent model. If you see no objection then you agree.
Hope this shine some light on the subject.