The former CEO of Google is now a strategic advisor to Chainlink Labs

The former CEO of Google is now a strategic advisor to Chainlink Labs

Eric Schmidt, until 2011 Chief Executive Officer of Google and later CEO of the technology company and its parent company Alphabet, joined Oracle solution provider Chainlink Labs as a strategic advisor.

Chainlink said Schmidt would lead the company’s scaling strategy in leveraging Oracle networks to trigger smart contracts, according to an announcement made Tuesday. Chainlink co-founder Sergey Nazarov quoted Schmidt’s experience in “building global software platforms for next-generation innovations” when the company decided to bring the former Google manager on board.

“The introduction of blockchains and smart contracts has shown enormous potential for building new business models, but it has been shown that one of the greatest advantages of blockchain – the lack of connection to the world outside of itself – is also its greatest challenge,” said Schmidt.

In addition to his tenure at Google and Alphabet, Schmidt served on the Department of Defense’s innovation committee, chaired the National Artificial Intelligence Security Commission, and served on the boards of Apple, Princeton University, Carnegie Mellon University, and the Mayo Clinic. With an estimated net worth of around $ 23.6 billion, Schmidt is likely to be one of the wealthiest people to act as an advisor to a crypto firm.

Related: Chainlink’s total secured value surpasses $ 75 billion as DeFi continues to climb

Earlier this year, Chainlink announced its Cross-Chain Interoperability Protocol (CCIP), which is able to leverage the platform’s oracles “to allow users to move digital assets and execute smart contracts across chains, which are used throughout the metaverse “. According to the company, the company is currently valued at more than $ 80 billion locked in smart contracts and blockchain-based applications.