Chainlink announced on Tuesday that Eric Schmidt (Google former CEO) will direct the firm’s scaling strategy, particularly in its use of Oracle networks for smart contracts.
The man who once called Bitcoin “a remarkable cryptographic achievement” and whose net worth is estimated to be $23.6 billion is likely to be one of the wealthiest advisors to Chainlink. Schmidt who served as Google’s chief executive officer (CEO) until 2011 and then as executive chair at Alphabet and Google’s parent company. He now serves as a strategic advisor to Oracle solutions provider Chainlink Labs.
Chainlink announced on Tuesday that Eric Schmidt will direct the firm’s scaling strategy, particularly in its use of Oracle networks for smart contracts. Among the reasons the company decided to bring former Google executive Schmidt on board was Schmidt’s experience “building global software platforms for next-generation innovation”.
“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,” – Schmidt stated.
Besides his time at Google and Alphabet, Schmidt served on the boards of Apple, Princeton University, Carnegie Mellon University, the Defense Department’s Innovation Board, and the National Security’s Commission on Artificial Intelligence and the Mayo Clinic. Considering Schmidt’s roughly estimated net worth of $23.6 billion, he’s likely to be one of the wealthiest advisors to a crypto firm.
As of earlier this year, Chainlink announced the Cross-Chain Interoperability Protocol, or CCIP, for connecting platforms’ oracles and enabling users to move assets and execute smart contracts across chains from every corner of the blockchain universe. It has currently locked up more than $80 billion worth of value in smart contracts and blockchain-based applications.