There is a need to prevent spam, which has been undertaken to destabilize the network for some time. Blacklists have enabled the network to continue to function despite such attacks. However, blacklists are presently only optional at the point of front ends, and users themselves do not have any control over what is filtered from their feeds, other than by choosing which front end to use (and I believe all popular front ends provide the same filtering at present).
Enabling users to choose from available blacklists would distribute that choice of filtering, while maintaining the ability of the network to prevent destabilization. Your feed is filtered by blacklists now. This idea will allow you to choose the conditions of the blacklist that filters your feed, which is currently not available to you.
I got the point and thus I know blacklist is operational as I can see in Hive.blog, my only concern is its misuse, yeah I know its beneficial but if its getting misuse.
Presently blacklists are global. The same blacklist that filters your feed filters mine, and neither of us chose to apply it. @blocktrades proposes that we choose whether our feeds are filtered by blacklists, and which filters apply. One user would no longer force every Hive account to be filtered by the blacklist they make, as happens now.
Your choice of filters on your feed does not now affect my feed, and would not after this proposal is adopted. Right now both of us have filters on our feeds we did not choose and cannot change. Right now abuse could happen.
After we can choose what filters our feeds, abuse can no longer happen.