Blockchains have a feature called censorship resistance that guarantees a transaction will be approved as long as all the prerequisites are satisfied. This ensures that no government or organization may affect or change transactions on a blockchain regardless of their level of influence.
Blockchain censorship resistance is quite different from how conventional banks operate, where everything is tracked, and governments can force banks to freeze specific assets and accounts or even halt transactions. In a society where everything is based on money, every organization or government that controls it results in an imbalance of power.
The irreversible record of transactions on the blockchain is another example of censorship resistance. Distributed ledgers are essentially what blockchains are. Each node in the system maintains and updates its copy of the ledger, which contains information on all transactions ever made. Therefore, neither a government nor a power can censor or change transaction information.
The benefit of censorship resistance is that it allows people to hold property without official approval. Good governments can quickly become corrupt, turn against a minority, or become dictatorships. But there is a limit to the government’s authority if transactions are made through blockchains.
