A conversation with Armani Ferrante, the co-founder of Backpack Exchange and MadLads.

Full show notes: solfate.com/podcast/41
Watch this episode on YouTube: youtu.be/aSSnPs0vcck

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Notes from the show

Armani discusses the genesis of Backpack Exchange and the challenges of building an exchange. He highlights the importance of compliance and the operational aspects of running an exchange. Armani also shares the vision for Backpack and how it aims to bridge the gap between traditional finance and the crypto economy.

He emphasizes the transparency and auditability of the exchange, as well as the focus on corporate governance and accountability. As well as the need for a circle of trusted individuals to share the burden of decision-making and responsibility. Finally, Armani highlights the role of regulators in ensuring the integrity of any exchange, crypto or otherwise.

We discuss the importance of exchanges as bridges between the traditional financial system and the new crypto ecosystem. He explains the challenges of operating in the US and the potential partnerships with licensed companies.

Our conversation touches on the capital requirements and fundraising efforts of Backpack. Armani shares the company's approach to source availability and open source. He also reveals the timeline for the launch of Backpack Exchange and expresses his focused mindset during this crucial moment. The conversation concludes with a call to action for listeners to try out the exchange beta and provide feedback.