Not a very good argument. The thing about a blockchain based system is that it literally cannot be shut down. That means I can send shares to whoever I want, whenever I want, without anyones permission.
What a retard.
I'm talking about the
issuer. You can trade shares of a business that doesn't exist anymore because it has been shut down, how does that fix anything?
But the rest of us are talking about the exchanges. You are looking for the answer to a separate question which indeed will not be fixed by decentralized exchanges.
You cant ignore all the benefits simply because it doesn't solve a problem it wasn't meant to.
We just want to move our damn shares from place a to place b without having to ask guy a and exchange b for permission.
The argument you are using is akin to saying bitcoin cannot work because it doesn't solve the problem that scammers will use it.