The most stupid part of this idea is that is requires a list of banned sites to be served to every user.
Even if they would use hashing to obfuscate the banned domains, you can download a list of all registered domains and just test every one of them.
So the average internet user will lose freedom while a cheese pizza enjoyer with some computer knowledge will gain a list of every banned CP site.
No, I thought "Cheese Pizza" ist just an acronym for inappropriate pictures and videos of children. Tell me if I'm mistaken (English is not my first language).