Columbia Business School professor Omid Malekan has raised concerns about the risks associated with major financial institutions adopting blockchain technology. As companies like DTCC, Visa, SWIFT, Stripe, and PayPal advance their blockchain initiatives, Malekan warns that they may be overlooking the disruptive potential of tokenization and stablecoins, which could challenge their existing business models. He also highlights the risk of these firms undermining blockchain's open nature through controlled systems and regulatory influence.