Former Google CEO Eric Schmidt joins Chainlink Labs as a consultant

Former Google CEO Eric Schmidt joined Chainlink Labs as a strategy consultant, according to an announcement on Tuesday.

Schmidt led Google for more than a decade, first as CEO from 2001 to 2011, then as President from 2011 to 2015. He was also a technical advisor to Alphabet Inc. – the parent company of Google – from 2018 to 2020.

Eric Schmidt – former CEO of Google

As a strategic advisor, Schmidt will evaluate Chainlink’s performance and research and provide guidance to identify what strengths, weaknesses and opportunities may exist in Chainlink’s business operations.

“Chainlink’s blockchain network and oracles are at an important turning point in terms of growth and adoption. Schmidt’s experience and insight into building a global software platform for next-generation innovations will be invaluable as we help developers and organizations usher in a new era of public economy fairly and transparently, “said Chainlink co-founder Sergey Nazarov.

Chainlink Labs, based in San Francisco, launched the Chainlink network in June 2017. The network provides real data for the smart contracts of Ethereum and other blockchain networks via a decentralized oracle. In other words, data sent to the Chainlink node network can be viewed on other networks via smart contracts.

Chainlink has its own utility token (LINK) to compensate the network’s node operators, who are currently in the top 20 by market capitalization, with a capitalization of over $ 9 billion.

LINK price table | Source: Tradingview

Chainlink Labs has several large partnerships for Schmidt to demonstrate his leadership role. In October, the Associated Press announced it would be using Chainlink to review articles made by authors. In 2019, Google Cloud began working with Chainlink to develop an API that would enable smart contracts to query the National Oceanic and Atmospheric Administration (NOAA) database and combine information from more than 9,000 weather stations.

“Chainlink is a secret ingredient in unlocking the potential of smart contract platforms and revolutionizing the economy and society. I am excited to help the Chainlink Labs team build a world that is powered by truth, “said Schmidt.

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