Not really, if it were US dollars for example then you either have to exchange suitcases full of cash or send transaction through banks which due to regulations can be required to freeze your money. Cryptocurrencies works more like cash but without having to physically exchange actual coins/bills.
If a physical commodity is backing the currency, then there has to be some official body (similar to a bank) to make sure the commodity matches the digital balance, and how would they enforce that rule other than censoring transactions (a.k.a. freezing money)?
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