38 of the 62 companies in a plan from the NYSE's owner to put stocks on a blockchain say no, including Alphabet, Oracle and Microsoft. Here is what that means for investors.
More than half of the companies in a plan to put their stocks on a blockchain say they want no part of it. The plan comes from the owner of the New York Stock Exchange. Of the 62 companies proposed for inclusion, 38 have objected, according to the Financial Times. Alphabet, Oracle and Microsoft are among them.
A tokenised stock is a way of recording who owns a share on a blockchain. A blockchain is a shared digital record book that many computers keep in step with one another. The proposal would bring that approach to the shares of 62 companies, but the objections cover most of them.
For anyone who invests, the way you buy and hold shares may change over time. For now, though, the plan faces open pushback from big names, so it may not move fast.
Until those answers arrive, nothing changes for how you buy or hold stocks today.
Nothing changes for your shares today, and 38 of 62 companies in the plan have objected, so any shift to blockchain stocks may be slow.
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