Columbia professor calls NYSE tokenization plan vague and superficial

The New York Stock Exchange's (NYSE) plan to build a blockchain for real-world asset (RWA) tokenization has been criticized as being superficial and lacking substance. According to Cointelegraph, Omid Malekan, a professor at Columbia Business School, pointed out that the NYSE's announcement failed to specify which blockchain would be used or whether the tokens would be permissioned. He also noted the absence of crucial information such as tokenomics and fee structures. Malekan argued that the NYSE's model is based on a highly centralized structure and that even the most sophisticated technology cannot alter this framework unless the exchange is willing to forgo its numerous existing partnerships and relationships.