Why the New York Stock Exchange's major blockchain initiative might be just a castle in the air?

According to CoinWorld, Omid Malekan, a professor at Columbia Business School, criticized the New York Stock Exchange's recently announced blockchain project, arguing that it is overhyped and lacks technical details, such as which blockchain will be used. He warned that the exchange's plan to include all existing partners contradicts the potential of blockchain to eliminate financial intermediaries. Malekan compared the situation to ATT's failed early internet strategy, suggesting that emerging companies like Securitize and Robinhood may lead the way in stock tokenization, while the New York Stock Exchange, constrained by its traditional business, may struggle to keep up.