The founder and chief executive of a Bermudian-based blockchain incubator has been appointed to the advisory board of US-based CPAI, the artificial intelligence powered crypto tax reconciliation, preparation and filing platform.

Michael Terpin is founder and chief executive of Transform Ventures, a blockchain advisory firm and venture studio, and Transform Studios, the island-based incubator.

Transform Studios Ltd, an exempted company limited by shares, was registered in Bermuda in November 2019.

During the previous month, Mr Terpin appeared as a panellist at the Tech Beach Retreat conference, which was part of the inaugural Tech Week on the island.

CPAI said Mr Terpin also founded and remained chairman of the largest advisory/marketing firm in the cryptocurrency sector, Transform Group, representing more than half the market capitalisation of the cryptocurrency sector, excluding Bitcoin.

He recently released the book Bitcoin Supercycle: How the Crypto Calendar Can Make You Rich.

CPAI said it addressed critical shortcomings in traditional tax software, which had struggled to keep up with the rapid evolution of the crypto landscape.

The company said the addition of Mr Terpin to its advisory board represented a strong seal of approval for the platform’s category-leading solution from one of the crypto industry’s most respected investors and advisers.

CPAI added: “Having supported the high-profile launches of early cryptocurrencies such as Ethereum, Augur, Bancor, Gnosis, Neo and Tether, Michael Terpin has a demonstrable track record in backing industry disrupters with long-term viability.”

The appointment comes only weeks after the launch of the $CPAI token, which grants holders access to CPAI’s crypto transaction reconciliation services powered by AI.