A well-known business leader will guide strategies for scaling as Chainlink becomes the world’s benchmark for linking blockchains with actual-world systems and data.
Chainlink Labs, the organization that is creating the standard worldwide that is driving the widespread adoption of blockchain, recently announced Eric Schmidt, former Google CEO, has been appointed as an advisor strategic who will lead the team that is working to build a future powered by the truth. He will be the mastermind of this project, it says strategic for a reason, they don’t want to gamble the future of Chainlink Labs like they were in sites like casino online NetBet.
Due to their nature, the blockchains and smart contracts that are built on top of them cannot connect to real-world data systems and information. Chainlink solves this problem by using oracle networks that draw and combine information of the actual world to create smart contracts based on blockchains. The Chainlink Network is composed of independent node operators such as Deutsche Telekom’s T Systems, Swisscom, The Associated Press, and many others and more, the Chainlink Network is responsible for activating and securing over $80 billion in value in smart contracts and apps built on top of a variety of leading blockchains.
“Blockchain networks and Chainlink oracles are at a crucial inflection point in terms of growth and adoption. Eric’s experience and insights around building global software platforms for next-generation innovation will be invaluable as we help developers and institutions usher in a new age of economic fairness and transparency.” said Chainlink co-founder Sergey Nazarov.
A leader in business and Software engineer, Schmidt was Google’s Chief Executive Officer from the year 2001 until 2011. He grew the company from a nascent Silicon Valley startup to arguably the most significant technology firm on the planet. Under his direction, Google dramatically scaled its infrastructure, conducted a profitable $23 billion initial public offering, introduced famous products such as Gmail, Google Maps, Chrome, Adsense, and Fiber and also acquired important technologies and services such as YouTube as well as Android. In addition, Schmidt served as chairman of Google until 2015, serving as the chairman of the Department of Defence’s Innovation board, as well as the chairman of the National Security Commission on Artificial Intelligence. Schmidt also has served in the boards of Alphabet, Apple, Princeton University, Carnegie Mellon University as well as The Mayo Clinic.
Schmidt is the current co-founder with Schmidt Futures and chairman of the Broad Institute of MIT and Harvard, in addition to other initiatives. He recently wrote his book “The Age of AI: And Our Human Future,” together with the former U.S. Secretary of State Henry A. Kissinger and computer scientist Daniel Huttenlocher.
“The launch of blockchains and smart contracts has demonstrated tremendous potential for the building of new business models, but it has become clear that one of blockchain’s greatest advantages — a lack of connection to the world outside itself — is also its biggest challenge,” Schmidt said. Schmidt. “Chainlink is a secret ingredient to unlocking the potential of smart contract platforms and revolutionizing business and society. I am excited to be helping the Chainlink Labs team build a world powered by truth.”
In the last few days, Chainlink has announced the Cross-Chain Interoperability protocol (CCIP) that offers a universal and accessible standard that developers can use to create secure applications and services which can transmit messages, transfer tokens and perform actions across multiple networks. Since it is a blockchain-agnostic platform, Chainlink will be at the forefront of what will become a growing multi-blockchain ecosystem.
Chainlink is the standard used by industry for creating, selling, accessing, and trading Oracle services required to power hybrid smart contracts across any blockchain. Chainlink’s oracle networks offer smart contracts with the ability to seamlessly connect to any API from outside and make use of secure off-chain computations to enable rich and feature-rich applications. Chainlink currently protects hundreds of billions of dollars in DeFi gaming, insurance, gaming and many other industries. It also offers companies and top data providers with a global connection for all the blockchains.