Smart contracts could let small teams offer financial products at lower cost, Backpack CEO Armani Ferrante said, while developer APIs could widen access to the infrastructure needed to compete.
Ferrante said a five-person team could use open APIs to build a company that competes with Robinhood. He said wider developer access could also give small teams more room to experiment with financial products.
He pointed to an on-chain S&P 500 tracker as an example of a product that could charge fees close to zero.
