• Eric Schmidt, former CEO of Google, has joined Chainlink Labs as an advisor

  • Chainlink Labs, whose eponymous protocol connects data from external sources to a blockchain, announced today that former Google CEO Eric Schmidt has joined the company as a strategic advisor. Schmidt was Google’s CEO and chairman from 2001 to 2011, and a technical advisor to Alphabet, the search engine’s parent company, from 2018 to 2020.

    Schmidt will assess Chainlink’s performance as a strategic advisor, researching and providing guidance to determine what strengths, weaknesses, and opportunities may exist in Chainlink’s operation.

    “Blockchain networks and Chainlink oracles are at a critical juncture in terms of growth and adoption,” Chainlink co-founder Sergey Nazarov stated in a press release. “Eric’s experience and insights into developing global software platforms for next-generation innovation will be invaluable as we assist developers and institutions in ushering in a new era of economic fairness and transparency.”

    Chainlink Labs, based in San Francisco, launched the Chainlink network in June 2017. Chainlink, a decentralized oracle network, provides real-world data to Ethereum and other blockchain networks’ smart contracts. In other words, data sent to Chainlink’s network of nodes can be accessed via smart contracts on other networks.

    Chainlink, which has its own utility token (LINK) for compensating network node operators, is currently the 20th-largest cryptocurrency by market capitalization, with more than $9 billion, according to CoinGecko.

    Schmidt can work with a number of large partnerships at Chainlink Labs. The Associated Press announced in October that it would use Chainlink to help verify that articles were written by its writers. In 2019, Google Cloud and Chainlink collaborated to create an API that allows smart contracts to query the National Oceanic and Atmospheric Administration (NOAA) database, which contains data from over 9,000 weather stations.

    “Chainlink is a key component in unlocking the potential of smart contract platforms and revolutionizing business and society,” Schmidt said. “I am thrilled to be working with the Chainlink Labs team to create a world powered by truth.”

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