LEXIT at the Blockchain Future Conference, Japan

Still impassioned from the encouraging feedback at Web Summit, Lisbon, the LEXIT team, operating under a tight development schedule,  had to split.  Amir, Majia, and Nikita headed back to LEXIT headquarters in Tallinn, while Deniss and Jason represented us at the Blockchain Future Conference in Tokyo, Japan.

Addressing an attentive audience of supporters and local entrepreneurs, Deniss began his presentation by sharing the story of how the LEXIT idea was first conceived:

Deniss recalled the LEXIT co-founders, back then the EnvyMe team, ready to bring a fully developed social networking application to the market. With more than 2000 downloads in less than two months on Appstore, things appeared to go exactly as planned. Except one thing - EnvyMe ran out of money. In an attempt to self-fund further user acquisition, Amir, Majia, and Deniss decided to sell another company in their possession, reinvesting profits in EnvyMe’s marketing campaign.

As true children of the Internet, the LEXIT team was convinced that in this day and age selling a company shouldn’t be more complicated than selling a car, house, or any other kind of property. After intense market research however, our co-founders were surprised to learn that things couldn’t be further from the truth. Despite prevalent network technologies and online marketplaces for anything one’s heart desires, the Mergers and Acquisitions sector still operates pretty much as it used to when Michael Jackson was the King of Pop.      

The EnvyMe team’s liquidation efforts eventually bore fruit, but Amir, Deniss and Majia - known today as the LEXIT co-founders - remained with the understanding that in the age of network communication and blockchain technology, the M&A industry can and should be revolutionized.

At this point Jason shared his experience as an attorney, specialising in Bankruptcy & Insolvency Law and Corporate Restructuring.

‍Chief Product Officer Dennis Raider (left) and Chief Strategy Officer Dr. Jason Corbett (right) presenting Lexit at the Blockchain Future Conference, Tokyo.   

Jason elaborated on the difficulties companies, especially tech startups, encounter while trying to liquidate contemporary forms of assets, such as algorithms, big data, and trademarks. Commenting on Deniss’ experience, he explained that discontinued projects often have a hard time to find buyers - not because of lack of demand, but because of a slow and inefficient market environment.

Both, Deniss and Jason continued to explain how LEXIT seeks to change this once and for all, by allowing buyers and sellers to explore the market without middlemen, assisted by a network of independent appraisers and matchmakers.

Enabling this disintermediated relationship between buyers, sellers, and a distributed network of industry-specific assessors, patent lawyers, and matchmakers, is the unique LXT token-economy. Using a token as a vehicle of value allows LEXIT to turn all involved parties into stakeholders of the entire process: the better the deals, the better off the entire service chain is and, of course, LEXIT’s clients.

If you want to learn more about LXT token dynamics and LEXIT in general, stay tuned here on our blog, subscribe to our newsletter, and join the conversation on Telegram.  The LEXIT team will be glad to answer all your questions.

See you around,
The LEXIT Team.

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