Columbia Professor Questions NYSE Tokenization Plan: More Like "Vaporware," Severe Lack of Details

By: theblockbeats.news|2026/01/22 11:02:49
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BlockBeats News, January 22nd - Columbia Business School professor Omid Malekan publicly questioned the New York Stock Exchange's (NYSE) latest proposed blockchain tokenization scheme, stating that the plan reads more like "vaporware," with crucial implementation details almost blank.


Malekan pointed out that NYSE did not specify which blockchain the platform would be based on, whether it would adopt a permissioned or permissionless chain architecture, whether it would support a hybrid model, and how the tokenomics and fee mechanism would be designed. He believes that in the absence of this core information, the related vision tends to lean more towards conceptual propaganda.


The NYSE and its parent company Intercontinental Exchange (ICE) previously stated that the blockchain platform aims to achieve 24/7 trading of stocks and ETFs, instant settlement, and provide multi-chain support and custody functions. However, Malekan emphasized that the NYSE's business model is fundamentally a highly centralized, oligopolistic market structure, and it will be difficult to change this reality solely relying on cryptographic technology unless it actively abandons its existing partnership system.


Despite skepticism in academia, some participants in the crypto industry believe that the plan is significant. Securitize CEO Carlos Domingo stated that "on-chain trading of native tokenized stocks is a major positive development," and Alexander Spiegelman, research lead at Aptos Labs, also stated that the introduction of blockchain technology to traditional markets is "timely."

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