Home News Eric Schmidt became a strategic advisor to Chainlink Labs

Eric Schmidt became a strategic advisor to Chainlink Labs

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Former Google Chief Executive Officer Eric Schmidt has joined oracle vendor Chainlink Labs as a strategic advisor.

Schmidt will lead the firm’s scaling strategy when using oracle networks to launch smart contracts.

In addition to working at Google, Eric Schmidt served as chairman and technical advisor to Alphabet; chairman of the Innovation Council of the US Department of Defense; chairman of the National Security Commission on Artificial Intelligence; also served on the boards of directors of Apple, Princeton University, Carnegie Mellon University and the Mayo Clinic.

One of the early proponents of Bitcoin

According to Forbes estimates, the net worth of his assets is approximately $24.4 billion. Which makes him one of the richest advisors of the cryptocurrency company.

Furthermore, Eric Schmidt is one of the early proponents of Bitcoin (BTC). Wikileaks founder Julian Assange introduced him to cryptocurrencies in 2011.

Schmidt previously described Bitcoin as a “remarkable cryptographic achievement”.

Associated Press, Swisscom and Deutsche Telekom

In October, the Associated Press (AP) news agency joined the Chainlink oracle network. The node it launched will provide developers of decentralized applications (dApps) with access to the organization’s collected data.

Thus, the information that the AP will provide includes financial data, information about election races, as well as sports results. Moreover, cryptographic signatures are protecting all the materials, confirming their authenticity.

Earlier in August, Swisscom, one of the largest telecommunications companies in Switzerland, joined Chainlink. Blockchains do not have access to information outside the network, so they need special oracle programs that provide data from external sources for smart contracts. Chainlink connects them via an application programming interface (API) to external resources – dApps, payment and corporate systems.

Swisscom became the second telecommunications company to connect to the Chainlink network. A division of the German giant Deutsche Telekom launched the node in July 2020.

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