Chainlink Labs Recruits Former Google CEO Eric Schmidt

Chainlink Labs is considered one of the best crypto projects in the industry. The network aims to connect data from the outside world to the blockchain. However, Chainlink Labs is looking to broaden its horizons and most recently announced a new hiring in this regard. Crypto Protocol has announced former Google CEO Eric Schmidt as the company’s new strategic advisor.

Eric Schmidt is a worthy name in the digital world as he is respected for his vast experience in the field. He has served Google for over ten years. He initially served as CEO from 2001 to 2011, and for the next four years until 2015, Schmidt served as executive chairman of the search engine giant.

Not only that, but he was also the executive chairman of Google’s parent company, Alphabet Inc. , from 2015 to 2017. Later, from 2018 to 2020, Schmidt worked at Alphabet as a technical advisor. During his days as CEO of Google, he was considered a major force as he launched new and popular services such as Google Maps, Gmail, and Chrome. In the meantime, he also acquired YouTube and Android.

Eric Schmidt’s Role at Chainlink Labs

As a strategic advisor, Eric Schmidt is expected to analyze and oversee the Chainlink network . He can observe the process of research taking place on the network and help the network understand its strengths and weaknesses. Schmidt can also help the organization point out any operational loopholes or improvement opportunities to further improve the network.

The newly hired Eric Schmidt is also expected to help Chainlink Labs achieve their multi-chain interoperability goals. Chainlink Labs is the developer behind blockchain oracle solution provider, Chainlink. In the world of decentralized finance, these oracles provide information about the price of an asset. But they can also be used to manipulate real data and information using smart contracts built on blockchains.

Chainlink Labs Takes Former Google CEO Eric Schmidt On Board 1
Source: Chainlink Twitter

According to a press release from Chainlink co-founder Sergei Nazarov, “Chainlink’s blockchain networks and oracles are at a critical tipping point in terms of growth and adoption.” Nazarov also added that “Eric’s experience and insights in creating global software platforms for next-generation innovation will be invaluable as we help developers and organizations enter a new era of economic fairness and transparency.”

What is Chainlink Labs and how does it work?

Chainlink Labs is a San Francisco-based organization that launched Chainlink back in June 2017. It works across Oracle’s decentralized network and helps manage data so that it can be seen on other networks using smart contracts.

The network also has a LINK utility token that rewards node operators throughout the ecosystem. LINK has earned a solid reputation in the cryptocurrency market with an ever-increasing trading volume and market capitalization.

Chainlink Labs has a lot of growth potential and has also acquired several major partnerships in recent years. These partnerships can help Schmidt plan and strategize for the future of the network. Large companies such as the Associated Press and Google Cloud are currently working with the Chainlink network, mainly in the sorting and data management sector.

Upon hiring, Schmidt expressed his gratitude in a statement. He said that “Chainlink is the secret ingredient unlocking the potential of smart contract platforms and revolutionizing business and society. I am delighted to help the Chainlink Labs team build a world based on truth. “