Chainlink Labs has announced that the former Google CEO, Eric Schmidt, has joined the organization as a strategic advisor. Schmidt will take on the role to guide the team with its scaling strategy, with Chainlink emerging as a global standard when it comes to connecting blockchains with off-chain data and real-world systems.
Connecting Blockchains With Real-World Data
Chainlink addresses a fundamental problem faced by blockchains and smart contracts, which is that they are unable to connect with off-chain data. Chainlink’s solution involves using Oracles and Oracle networks that can pull data from the real world, providing them to the blockchain and smart contracts.
The Chainlink Network is made up of independent node operators such as Swisscom, Deutsche Telekom’s T-Systems, and more and is responsible for securing over $80 billion worth of value locked in smart contracts on several blockchains.
Bringing Significant Experience To Chainlink
Schmidt brings years of experience to Chainlink, having previously worked with Google as their Chief Executive Officer for a decade (2001-2001). Under his watch, we saw Google grow from another Silicon Valley Startup to the tech behemoth that we know today and possibly one of the most important technology companies in the world.
Speaking about Eric Schmidt coming on board, Chainlink co-founder Sergey Nazarov stated,
“Blockchain networks and Chainlink oracles are at a crucial inflection point in terms of growth and adoption. Eric’s experience and insights around building global software platforms for next-generation innovation will be invaluable as we help developers and institutions usher in a new age of economic fairness and transparency.”
Overseeing Important Milestones
Schmidt oversaw a dramatic scaling of Google’s infrastructure, and it was during his tenure that Google conducted its hugely successful IPO. Google also significantly expanded its product portfolio under Schmidt, launching new products such as Gmail, Google Maps, Chrome, Adsense, and Fiber which have become a critical feature in everyday life.
An Impressive Resume
Schmidt also oversaw the acquisition of YouTube and Android. Apart from this, Schmidt has also served as the Chairman of Google, a position he held until 2015. He has also been the Chairman of the Department Of Defense’s innovation board and the National Security Commission on Artificial Intelligence. He has also been on the board of several organizations, including Apple, Alphabet, Carnegie Mellon University, Mayo Clinic, and Princeton University.
Schmidt is also the co-founder of Schmidt Futures and is currently the Chairman of the Broad Institute of MIT and Harvard. He has also co-authored a book, “The Age of AI And Our Human Future,” along with computer scientist Daniel Huttenlocher and former US Secretary of State Henry A. Kissinger.
Schmidt was quite excited to begin working with Chainlink Labs, stating,
“The launch of blockchains and smart contracts has demonstrated tremendous potential for the building of new business models, but it has become clear that one of blockchain’s greatest advantages — a lack of connection to the world outside itself — is also its biggest challenge. Chainlink is a secret ingredient to unlocking the potential of smart contract platforms and revolutionizing business and society. I am excited to be helping the Chainlink Labs team build a world powered by truth.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.