Australian blockchain-powered peer-to-peer renewable marketplace, Power Ledger, has announced that venture capitalist Bill Tai has joined its board of advisors and will become an Ambassador for the company.

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Tai is a co-creator of the Blockchain Summit which took place last month in Sir Richard Branson’s private retreat, Necker Island.

Power Ledger Co-Founder and Chair, Dr Jemma Green who was invited to the Summit to present on how her company was applying blockchain technology to enable the decentralization of energy systems, met Tai onsite where the announcement was made.

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“Power Ledger is a standout among the companies at our gathering, solving a real problem in an enormous market,” commented Tai. “Jemma and her team have shown the world how blockchain based technology can be applied to create liquidity and efficiency in the renewable energy markets with a solution that can be truly transformative.”

“It’s extremely exciting that Bill is now part of the team,” said Dr Jemma Green, Co-Founder and Chair of Power Ledger. “To have someone of Bill’s calibre as an ambassador within the team, will really help bring about change on a global scale. Having Bill onboard is a big win for us and we’re looking forward to an exciting year ahead.”

“The application of blockchain technology is making itself known in so many different industries now,” added Tai. “Power Ledger’s solution is in the final stages of commercial deployment, and shows massive promise in the future of renewable energy and decentralizing the grid”.

The Silicon Valley-based venture capitalist is an investor and Board Director at Bitcoin mining giant and blockchain transactions processing company, BitFury.