Former Google CEO and co-founder of Schmidt Futures, Eric Emerson Schmidt, has joined Chainlink Labs as a strategic advisor. The global business leader will lead the team in creating a ‘truth-powered world.’
Schmidt feels that the introduction of blockchains and smart contracts shows significant promise for the development of new business models. However, the walled nature of blockchain technology prevents its widespread use.
“Chainlink is a key component in unleashing the promise of smart contract platforms and transforming business and society.” “I am thrilled to be working with the Chainlink Labs team to create a world powered by truth,” he says. Schmidt mentioned the idea earlier this month during a webcast on ‘The Age of A.I. and Our Human Future.’ From 2001 until 2011, he was the CEO of Google.
Blockchain systems are supposed to be isolated from the outside world. While this increases security and integrity, it also limits the amount of data entered. Chainlink became an oracle solution for hybrid smart contracts on any blockchain—the link to external APIs and access safe off-chain calculations, allowing efficient programs to be equipped.
As blockchain networks and Chainlink oracles approach a tipping point in growth and adoption, the team is certain that Schmidt’s experience establishing global software platforms for futuristic ideas will help the project expand. Chainlink is now the 21st most valuable cryptocurrency in terms of market capitalization.
