Chainlink (LINK): Ex-chief of Google Eric Schmidt becomes strategic advisor

Chainlink (LINK) announces a spectacular appointment: Eric Schmidt, a strategic advisor who led Google for more than a decade, has been hired. Now he is to bring his expertise to Chainlink.

It is hard to imagine the crypto industry without Chainlink (LINK). The project has become the standard when it comes to converting external data into blockchain formats, which in turn can be fed into smart contracts. The booming DeFi division, for example, can hardly do without Chainlink’s services. A heavyweight in the IT industry is now expected to help Chainlink strengthen business relationships with companies and organizations in traditional industries. Via press release, Chainlink announced that it has won Eric Schmidt as a strategic advisor. The 66-year-old Schmidt was CEO at Google for a good decade from 2001 and is counted among the 100 richest people in the world.

He himself describes Chainlink as the “secret ingredient” to unlock the potential of smart contracts and revolutionize society and business. Schmidt is looking forward to creating a world based on truth with the team at Chainlink. By that, he means the incorruptibility of the data Chainlink prepares for blockchains. At the same time, Schmidt still sees many challenges in connecting blockchains with the real world. His contacts to large companies such as Google and Apple could open many doors for Chainlink here; Schmidt also holds seats on supervisory boards in addition to his positions at Google.

For Chainlink, co-founder Sergey Nazarov welcomed the prominent new addition. Schmidt’s experience in thinking ahead in software globally and innovatively will be of decisive help to Chainlink. Nazarov emphasizes fair dealings with external developers and high transparency as corporate goals. Chainlink also points to existing cooperations with Deutsche Telekom, Swisscom and others as node operators. So partnerships already exist here, but they are more of a technological nature and do not yet include content. The US news agency AP, for example, wants to guarantee the accuracy of its reports in the future by automatically cross-checking facts – where possible – with data from Chainlink.

Conclusion: Personnel coup for Chainlink with Eric Schmidt

Since the announcement of Eric Schmidt’s appointment to Chainlink, LINK has posted a gain of around 10 percent in a stagnating overall market. Investors therefore see Schmidt as a strategic advisor at Chainlink as a positive sign of consistent further development. Whether the advance praise is justified must now be seen in the coming months. After all, what is needed is not a breakfast director like Schmidt, but a figure who can build up new collaborations and monetize them cleverly. With Schmidt, Chainlink is now ideally positioned for this, at least in theory.

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