Fortune Magazine: The tokenization plan of the New York Stock Exchange is an empty promise disguised as innovation Golden Finance Report, Omid Malekan, analyst at Fortune magazine The article states that the large-scale tokenization plan of the New York Stock Exchange is just an empty promise disguised as innovation. The 24/7 trading and instant settlement emphasized by the New York Stock Exchange are not unique to blockchain, and the existing centralized system can also be achieved technically. The real resistance comes from the interest structure of the existing intermediary system and business partners, and the lack of disclosure of which blockchains and stablecoins the plan supports, as well as programming languages, virtual machines, and token standards. Considering that the grand plan of the New York Stock Exchange is "yet to be approved by regulatory authorities", this lack of detail is puzzling. The core advantage of public chains is not database efficiency, but the permissionless global access and financial architecture similar to anonymous assets, which is precisely in line with the New York Stock Exchange's clear retention of "only qualified brokers participating". There is a fundamental conflict in the market structure.