No, this is due to the open nature of the blockchain, not because of centralization or decentralization.
For example imagine you are the US government or a bank. You see that someone has received money from an account owned by al qaeda. They could choose to blacklist this person as someone to do business with, because of the visibility of transactions. This affects fungibility, because someone else might not want to take those coins off your hands either due to the history and association.
No, this is due to the open nature of the blockchain, not because of centralization or decentralization.
For example imagine you are the US government or a bank. You see that someone has received money from an account owned by al qaeda. They could choose to blacklist this person as someone to do business with, because of the visibility of transactions. This affects fungibility, because someone else might not want to take those coins off your hands either due to the history and association.
This makes a lot of sense then, so its one of the cons of Fungibility in real used cases as per Hive.