NYSE’s Tokenization Plan Draws ‘Vaporware’ Criticism From Columbia Professor

[encrypted]

A Columbia Business School professor has raised concerns over the lack of detail in the New York Stock Exchange’s proposed blockchain platform for tokenizing real-world assets.

In a post on X, Omid Malekan described the announcement as resembling “vaporware,” arguing that key elements remain unclear. He pointed to unanswered questions around which blockchain would be used, whether the system would be permissioned or permissionless, and how fees and token economics would work.

The NYSE and its parent company, Intercontinental Exchange, said the platform would enable 24/7 trading and instant settlement of stocks and ETFs using a blockchain-based post-trade system.

Malekan warned that without clearer technical and governance details, it is difficult to assess whether the project aligns with core crypto principles.

[johnblockbuster]

not everything needs to be permissionless to be useful. 24/7 trading + instant settlement would still be a massive upgrade over current market plumbing.