SAN FRANCISCO, Dec. 7, 2021 /PRNewswire/ -- Chainlink Labs, the organization developing the global standard powering mainstream blockchain adoption, today announced that Eric Schmidt, former Google CEO, has signed on as a strategic advisor to guide the team working to build a world powered by truth.
By their nature, blockchains and the smart contracts built atop them are unable to connect with real-world data and systems. Chainlink solves this problem through the use of oracle networks that pull and aggregate data from the real world in order to trigger smart contracts built on blockchains. Made up of independent node operators like Deutsche Telekom's T-Systems, Swisscom, the Associated Press, and more, the Chainlink Network is responsible for triggering and securing more than $80 billion worth of value locked in smart contracts and applications built atop numerous 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 business leader and software engineer, Schmidt previously served as Google's chief executive officer from 2001 to 2011, growing the company from an early Silicon Valley startup to arguably the most important technology company on the planet. Under his leadership, Google dramatically scaled its infrastructure, conducted a successful $23 billion IPO, launched popular product offerings like Gmail, Google Maps, Chrome, Adsense, and Fiber, and acquired key technologies and services like YouTube and Android. Additionally, Schmidt served as chairman of Google until 2015, as chairman of the Department of Defense's Innovation board, and as chairman of the National Security Commission on Artificial I...