"In 1998, the world's largest telecom, AT&T, cut a series of deals with a popular startup called Excite. By distributing Excite's content and search tools over its giant cable network, the company believed it could extend its dominance into the emerging Internet era. Google, of course, had other plans and today its market cap is 20 times larger than AT&T."
"In fact, there are good reasons to doubt this will be the case-starting with the tone of the NYSE's announcement, which is chockful of hype and buzzwords but contains very little in the way of details. If the exchange wanted to show it is serious about being a major player in the blockchain era of finance, it would address some obvious questions."
In 1998 AT&T partnered with Excite to extend cable dominance into the Internet era, but Google later eclipsed AT&T in market value. The New York Stock Exchange announced a platform for tokenized securities, and its parent ICE operates exchanges and clearing systems worldwide, signaling mainstream adoption of blockchain. Congressional action to integrate crypto services could lead to tokenized equities and regulated blockchain-based issuance and trading. However, NYSE's announcement is filled with hype and few technical details. Key unanswered questions include which blockchains and stablecoins will be supported and which programming languages, virtual machines, and token standards will be adopted.
Read at Fortune
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