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8i Enterprises Acquisition Corp. Announces Execution of Share Exchange Agreement with Diginex Limited

Vlad Poptamas

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Photo source: 8icorp.com
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8i Enterprises Acquisition Corp. (NASDAQ: JFK) (“JFK” or “8i”), a special purpose acquisition company, today announced that it has entered into a definitive share exchange agreement with Diginex Limited (“Diginex” or the “Company”), a global blockchain financial services and technology company headquartered in Hong Kong. Upon completion of the transaction, Diginex is anticipated to have an initial enterprise value of approximately $276 million[1].

Headquartered in Hong Kong with a presence in TokyoLondonBostonDubai, Lausanne and Berlin, Diginex provides an ecosystem to enable the broader adoption of digital assets across financial markets through three interlocking pillars: (i) Advisory – capital markets origination and distribution of securities via digital assets; and broader blockchain solutions for corporate and financial industry institutions, as well as governments (ii) Markets – a full infrastructure for digital assets exchange trading and custody, and (iii) Asset Management – providing an accessible and credible on-ramp into digital assets for institutional allocators of capital. In furtherance of its focus on global collaboration, Diginex is developing partnerships with institutional investors, corporations, and governments to improve the efficiency and security of business processes while driving institutional adoption of blockchain technologies and the regulated use of digital assets.

James Tan, Chairman and Chief Executive Officer of JFK, commented, “The execution of the share exchange with Diginex comes as the need for increased regulation, transparency, and traceability around the growing use of digital assets has never been greater. After a thorough review of multiple opportunities in this industry, we have determined Diginex is the trusted operator of choice with the advanced technology infrastructure necessary to meet the standards of institutional investors and partners. With their thoughtful ecosystem approach, we believe Diginex is well-positioned to continue unlocking opportunities and driving institutional adoption of blockchain technologies.”

Richard Byworth, Chief Executive Officer at Diginex, said, “Diginex has been built to provide the financial services infrastructure required to take digital assets and blockchain technology to the next level of adoption by institutional investors and corporations globally. We believe that this exciting transaction will enhance our broader market visibility as we further roll out our global platform including our exchange infrastructure, product offering, licenses and market expansion into key geographies around the world.”

Miles Pelham, Chairman of Diginex, added, “Upon the completion of this transaction, as a publicly-listed Nasdaq company, Diginex will continue to pursue its vision of leveraging blockchain technology for both social good and the disruption of financial intermediaries. Our seasoned and diverse team of financial service professionals, compliance experts, and technologists, are dedicated to regulatory compliance and transparency, standards which are essential to furthering our goal of growing the global propagation of digital assets.”

[1] Assuming no redemption from the trust, excluding earn out shares.

Transaction Details

Under the terms of the agreement, JFK will acquire Diginex, with JFK continuing as the listed company on the Nasdaq Capital Market. Upon closing, JFK will change its name to “Diginex Limited”. At the effective time of the share exchange, Diginex’s shareholders will receive 20 million ordinary shares of JFK, valued at $10.00 per share, of which two million ordinary shares will be held in escrow for 12 months after closing of the transaction to satisfy potential indemnification claims under the terms of the agreement. In addition, Diginex shareholders will be entitled to receive earn-out consideration of an additional five million JFK ordinary shares, subject to Diginex achieving share price thresholds of $15$20, and $30 over the next three years as set forth in the agreement. All options held by Diginex option holders under its current employee share option plan, whether vested or unvested, will automatically be cancelled as of the closing of the transaction and in exchange for the cancelled options and upon payment of the exercise price of the options, the option holders will receive 4.2 million ordinary shares of JFK, in the aggregate, which will be subject to lock-up agreements for a period of fifteen (15) months following closing of the transaction, and shall be released in three (3) equal installments over a period of six (6) months following the expiration of such lock-up period.

The Board of directors of JFK at closing will consist of seven directors, to be designated by the Diginex shareholders.

The closing conditions include, among others, the approval of the transaction as a whole by JFK’s existing shareholders and the aggregate dollar amount of the redemptions does not cause the balance of JFK’s trust account (less any fees and costs relating the transaction) to be an amount less than $5,000,001.

Chardan is acting as a financial advisor to JFK, and Loeb and Loeb LLP is acting as legal counsel to JFK. Winston & Strawn LLP is acting as legal counsel to Diginex.

The description of the transaction contained herein is only a summary and is qualified in its entirety by reference to the definitive agreement relating to the transaction, a copy of which will be filed by JFK with the SEC as an exhibit to a Current Report on Form 8-K.

 

SOURCE 8i Enterprises Acquisition Corp.

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MaGIC with MBA has launched Blockchain Researcher Lab program in Malaysia

Alexandru Marginean

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10th Oct Cyberjaya: MaGIC in collaboration with Malaysia Blockchain Association has launched a new program for Blockchain enthusiasts who wants to learn the component of the technology from basic layer to the application layer. The objective of the program is to spread awareness and knowledge on applying blockchain technology into business component.

Dato Rayson Wong, Chairman of the Malaysian Blockchain Association , delivered a speech at the launching ceremony of the Blockchain Researcher Lab. He said that the development of the blockchain  requires the government’s strong support and promotion to succeed, so he is especially grateful to the Malaysian Entrepreneur Development Minister (MED). ) YB Datuk Seri Mohd Yusof Md Redzuan  traction, contributed to the MaGIC Malaysian global innovation and creativity Center jointly launched the scheme, so that Malaysia played a key role in the block chain economy, promote the development of industry 4.0.

 

The highlight of this program is its Exploration Lab, where participants or researchers are allowed to play around with different cryptography algorithm, consensus mechanism and even run their blockchain solution.

TriveAcademy founder Tan Ji-Sheng   explained the main purpose of the blockchain researcher lab program, hoping to cultivate more blockchain professionals, while also allowing more small and medium-sized enterprises and innovation teams to better understand the blockchain and embrace the blockchain. And the blockchain technology will be incorporated into the application and create more value gains.

Companies are taking notice of these business benefits and embracing blockchain technology for its wide-reaching possibilities. From manufacturing to healthcare to supply chain and beyond, blockchain has much to offer. Therefore, they encouraged many industries to come and have the hands-on of the technology which will be exposed by expert only.

 

ABOUT MALAYSIAN GLOBAL INNOVATION & CREATIVITY CENTRE (MaGIC)

MaGIC bridges together startups, corporates, investors, academics, and the government to create a vibrant and collaborative entrepreneurship ecosystem that will build sustainable industries, able to navigate challenges of tomorrow and stay competitive in economies of the future. MaGIC propels the nation’s economic transformation by moulding Malaysia’s next generation of entrepreneurs to generate future-ready solutions. As one of the building blocks, MaGIC works to create and equip these exponential entrepreneurs with the necessary tools, skills and capabilities to succeed; creating an open and collaborative environment with key ecosystem players to build sustainable future industries; and connecting new ideas to capital and markets more effectively. MaGIC is also committed to propel the aspiration of Malaysia’s Social Enterprise Blueprint, drive the need for systemic change, create an enabling ecosystem as well as cultivate and champion impact-driven entrepreneurship regionally. For more information on MaGIC, visit: http://mymagic.my.

 

About Malaysia Blockchain Association

Malaysian Blockchain Association [MBA] is an international Non-Profit social enterprise established with a global vision to build a sustainable blockchain community through Malaysia cooperation

 

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B2B Press Releases

Why NOT to attend ChainPoint 19!

Alexandru Marginean

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Networking is boring and meeting the industry leaders seems not cool.

Who wants to travel to a city in the middle of nowhere, get to the venue of the conference in a traffic jam, meet these new people, try all that armenian unknown dishes? And there will definitely be need to reprint the business cards. Yeah, this is reasonable enough not to join the conference.

But listen, nobody wants to miss the chance to rub shoulders with the thought-leaders and experts of blockchain space for more than 20 hours, and have the unique opportunity to listen to so many  insightful and inspirational speeches from the top-notch experts and visionaries from the space.

The Minister of Economy of Armenia, Tigran Khachatryan, will present the main principles of the attractive crypto regulation law to be put in force soon, the CEO of Bitcoin.com Stefan Rust will give a keynote speech on the recent developments of the platform, Henri Arslanian, the Global Crypto and FinTech Leader at PwC and the Chairman of Fintech Association of Hong Kong will uncover exclusive insights about the fintech and crypto industry, Toufi Saliba, the CEO of TODA.network will tell about the new protocol, Marc Taverner, the Global Ambassador of Bitfury will show how governments are utilizing the DLT technology, we will go deep into use cases of digital transformation with Dr. Ramadan AlBlooshi, and will spread light on the hottest topics on the agenda of digital economies and much more.

We are hosting more than 25 blockchain communities with the presence of most active players who will be showcasing their products and services, proving us that this industry is going to disrupt the perception of the future we are all looking into.

ChainPoint 19 has the vision of bringing light to the most significant initiatives that are taking place in the space and providing a platform for all the players to grab as much value as possible.

 

Who cares about all that startup competitions?!

If your startup doesn’t need funding, or if you are not thrilled to discover the next big thing in its early stage, you can miss the CP19 Startup Battle.

Startups are the ones who fuel the development of the technology by proposing more and more real world use cases. This teams and ideas have to be noticed and ChainPoint 19 is the exact platform to bring all this fascinating projects onstage. Meet VCs, investors, experts, the ones who have built the startup ecosystem from scratch and they are here to share their experiences and maybe fund some of the lucky projects.

Why ChainPoint 19 Startup Battle?

  • Build strategic partnerships
  • Gain valuable and targeted media exposure
  • Get invaluable expert feedback
  • $350k prize fund, benefits and perks

The Startup Battle is supported by InnMind, aeternity ventures, CV labs and SmartGateVC, who have contributed to form the prize fund. They provided the opportunity to join the top incubation and acceleration programs, take the development of the project to the next level and close a funding round at the end.

 

Your workload is way too busy for you to take two days off and visit the next blockchain hub

Nice point, you can stay at your comfort zone, but here we have lots of stuff happening, that you definitely do not want to miss.

The Nooor Blockchain Armenia has introduced a draft law on crypto regulation and you can find out why the country is another option during ChainPoint 19. We talk about Malta, Switzerland as the jurisdictions with the most favorable conditions to operate a blockchain company, we go to Estonia for better opportunities and address service-providers from Singapore, etc. Each and every state is in hustle to put themselves on a map and attract as much international players as possible. And here we are, stating that we can count as one of the best options to choose. This is not only about the jurisdiction and fast growing tech industry, it is the creativity and the innovative approach we got and ChainPoint is one of the platforms to showcase all the opportunities that we have in our country.

We have taken the road of becoming one of the countries which will be advocating the development of the technology and the ecosystem as a whole.

Putting aside the blockchain, are you sure you want to miss your chance to touch the thousands-year-old history, see the outstanding cultural sights and taste the unique cuisine? Consult with your travel agent, she will show you the right way!

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Blockchain

The power of cryptocurrency education

Alexandru Marginean

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Source: Pexels.com
Reading Time: 5 minutes

If mass adoption of cryptocurrency is ever going to happen, we need widely-available cryptocurrency education to happen first.

People won’t use what they don’t understand. We saw this with initial resistance to the internet, social media, and smartphones. In the case of these three technologies, there wasn’t a lot of education needed to get people to eventually get on board: the tech just had to become more accessible, more useful, or cool enough that suddenly everybody wanted it.

Cryptocurrency is more complicated than a smartphone, however. Just as we educate children about fiat money in age-appropriate ways, through allowances and budgeting and savings accounts, we must also teach the mainstream audience about how to use and interact with cryptocurrency, to protect them from making foolish decisions.

A child who has not been educated about money might blow their allowance on candy rather than saving up for a new video. An adult who has not been educated about cryptocurrency, on the other hand, might share their private keys with a scammer or invest in a KaratBars-style scam.

 

Knowledge is power

When we teach people about cryptocurrency, we empower them to make smart decisions. A person who understands the importance of their private keys will keep them in a safe place and not share them with scammers. A person who has learned how to perform due diligence won’t invest in the first get-rich-quick scheme that lands in their inbox. A person who has learned how the blockchain works will understand whether or not blockchain implementation will improve their business’s operations.

We can’t just hand the world blockchain and cryptocurrency and expect them to know what to do with it. If mass adoption of cryptocurrency is ever going to happen, we need widely-available cryptocurrency education to happen first.

If you’re reading this, chances are you’re already a member of the crypto community and you have some understanding of the underlying technology and tokenomics. But if you’re relatively new yourself, you may have trouble properly explaining these concepts to the people in your life. It’s a frustrating experience, having just enough knowledge about something to be excited about it, but not enough to get other people to understand and be excited, too.

 

Invite people to learn alongside you

You are in the perfect position to serve as an ambassador for cryptocurrency and the blockchain. Your passion and excitement is probably contagious, and your curiosity is likely driving you to learn more. Harness that! Now is the time to ask your friends and family to join you on this exciting journey into the new frontier of cryptocurrency.

One good way to do this is to get people to join you for a class. You may be able to find an in-person workshop that’s open to the public. But another good option is to join an online class together — this offers a lot more flexibility, and also allows you to invite people to join you regardless of the geographical distance between you.

The great thing about learning alongside someone is that there’s a lot of opportunity for discussion. When you’re attending the same class, you’re on the same ground. You know what your friend has already learned, because you learned it alongside them. And because you have a little more experience than they do, you’ll be in a good position to help them, by clearing up something they didn’t quite understand in class, or pointing them to good resources for further learning.

 

Top tips for getting a good crypto education

  1. Whether you decide to sign up for an on-line course or educate yourself by reading articles and watching videos, make sure you’re learning from a reliable, up-to-date source.
  2. Learn how to do your own due diligence. Whether you’re considering a workshop, an exchange, or an investment opportunity, you should know how to perform the proper research.
  3. Be wary of anyone offering fast profits or guaranteed returns. If it seems too good to be true, it probably is.
  4. Never transfer your crypto funds to a teaching platform without being 100% confident that they are trustworthy. Actually, never transfer your crypto funds to anyone unless you’re confident in who you’re dealing with.
  5. Stay on top of news and developments in the industry by getting your news from trusted, crypto-centric sources.
  6. Look for high-quality subreddits, Telegram chats, and forums where people actually discuss cryptocurrency rather than hyping the next get-rich-quick scheme.

Mass adoption doesn’t just happen. It happens because people find something great, and they want to share it with others. You’ve learned how exciting cryptocurrency can be. How will you share that with the people in your life?

 

Online platforms for a crypto education

You have several options available if you’d like to pursue an online education in cryptocurrency and the blockchain:

  • Cointelligence Academy – If you’re looking for an online class suitable for everyone from crypto enthusiasts to total beginners, we’d like to invite you to Cointelligence Academy, a course series designed to cover everything from the basics of bitcoin and blockchain to how to perform due diligence on crypto projects. These classes are presented by Cointelligence staff who have years of experience in cryptocurrency and a passion for crypto education. 
  • Introduction to Digital Currencies at UNIC – Get a taste of the University of Nicosia experience by enrolling in the world’s first free MOOC (massive open online course) on cryptocurrencies and blockchain technology. This introductory course is taught by the CEO of UNIC and a Bitcoin entrepreneur, so students are sure to get an expert education.
  • BlockGeeks – Considered by many to be the leading crypto academy, this platform offers unlimited access to a variety of courses at a monthly fee. They also offer a “Blockdegree” in ETH. Much of their education is geared towards Ethereum, so those looking to get a job on an ERC-based project may do well to look into this platform for their professional development.

There’s an option out there for every student. Consider what your goals are, how much time and money you have to invest in your education, and how you like to learn, and get started on getting a great crypto education today. Every step you take to learn more is another step towards mass adoption.

 

About the author: On Yavin is the founder and CEO at Cointelligence, a company that conducts data research and analysis for the crypto economy. On has extensive experience as a serial entrepreneur and angel investor, as well as more than 20 years of experience in the tech industry. On uses his deep, hands-on experience and knowledge of online marketing to create winning strategies for crypto, and blockchain companies. Having earned the reputation of “crypto expert”, On continues to contribute to this industry in ways that advance cryptocurrencies and blockchain technologies. On has a law degree (LLB) and is also a certified Advocate by the Israeli Bar Association.

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