Chainlink announced on Tuesday the recruitment of the former Google boss in a statement. The team focuses on aggregating and implementing real-world data for use as smart contracts built on various blockchains. This is achieved by using Oracle networks, which connect Web 3.0 systems with legacy databases.
Overall, Chainlink has helped secure over $ 80 billion in total locked-in value across multiple smart contract chains.
“Blockchain networks and Chainlink's oracles are at a crucial tipping point in terms of growth and adoption,” said Chainlink co-founder Sergey Nazarov. "Eric's experience and insights into building global software platforms for next generation innovation will be invaluable as we help developers and institutions usher in a new era of economic fairness and transparency."
Eric Schmidt helped Google scale its infrastructure, including a $ 23 billion IPO, by presiding over the launch of Gmail, Google Maps, Chrome, Adsense and Fiber. He was also chairman of the Defense Department's Innovation Board and the National Security Commission on Artificial Intelligence. Today he is co-founder of Schmidt Futures and president of the Broad Institute of MIT and Harvard.
Schmidt believes that the blockchain's lack of connection with the physical world is one of its obvious weaknesses, which Chainlink helps alleviate:
“Chainlink is a secret ingredient in unlocking the potential of smart contract platforms and revolutionizing business and society. I am thrilled to help the Chainlink Labs team build a world fueled by truth ”.
Chainlink focuses on building a multi-blockchain ecosystem and has so far proven successful in expanding its network. In October, the company partnered with Cardano, one of the top ten blockchain ecosystems, to bring Oracle systems into Cardano's smart contracts. This was remarkable timing, as Cardano had only recently implemented smart contracts on their chain.
Most recently, the Associated Press announced that it will operate a Chainlink node, used to provide smart contract developers with verifiable data from a highly trusted source.
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