Eric Schmidt, until 2011 CEO of Google and later CEO of the technology company and its parent company Alphabet, joined Oracle solution provider Chainlink Labs as a strategic advisor.
According to an announcement made Tuesday, C.Hainlink said Schmidt will lead the company’s scaling strategy in leveraging Oracle networks to enable smart contracts. Chainlink co-founder Sergey Nazarov cited Schmidt’s expertise “in building global software platforms for next-generation innovations” in the company’s decision 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 turns out that one of the greatest advantages of blockchains, the lack of connection to the outside world, is also its greatest challenge.”said Schmidt.
In addition to his positions at Google and Alphabet, Schmidt served as chairman of the Department of Defense’s Innovation Council and chairman of the National Security Commission on Artificial Intelligence, and served on the boards of Apple, Princeton University, Carnegie Mellon University, and the Mayo Clinic. With an estimated net worth of about $ 23.6 billion, Schmidt is likely to be one of the richest people to serve as an advisor to a crypto firm.
Earlier this year, Chainlink announced its Chain Interoperability Protocol (CCIP), which is able to use the platform’s oracles “to allow users to move digital assets and execute smart contracts on the various strings that run throughout Metaverse can be used.“According to the company, it currently has more than $ 80 billion locked in value in smart contracts and applications based on blockchains.