NYSE unveiled a plan on Monday to enable blockchain-based 24/7 trading and instant settlement of stocks and ETFs, in addition to custody features.
A Columbia Business School professor is raising concerns about the scant details in the New York Stock Exchange’s plan to build a blockchain for real-world asset tokenization, amid fears it could run against the ethos of crypto.
In an X post on Tuesday, Omid Malekan said NYSE’s announcement read like “vaporware” and that many questions remain unanswered, including which chain it would be built on, whether tokens would be permissioned, permissionless, or a combination of both and what the tokenomics and fee set-up would look like.
Vaporware refers to a product that has been announced and hyped but does not exist in a functional form, often lacking concrete details on how the product will be implemented.
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