If centralised organisations can blacklist wallets and shut down chains then they are no different than banks and should not be celebrated .

Multiple times you must have seen a news about some hack followed by info about hacker's wallet has been blacklisted or how the chain has been shut down, at that moment it feels like the right thing to do but it's a short sighted approach.

If stablecoin issuers can just blacklist wallets or binance can call the validators and shut down the chain then where is the decentralisation?

​

We want to change the financial world but these organisations are basically banks in a new bottle, they can freeze your money, blacklist your accounts just like banks do.

Also if these wallets can be blacklisted during hacks then they can also be shut down by governments especially authoritarian governments.

The idea of crypto was to make money free from control of a few people but it seems like the control still remains just the hands have changed.