Today, blockchain project Chainlink (LINK) announced that it hired ex-Google CEO Eric Schmidt as a strategic advisor for the oracle services and network provider. According to Chainlink’s announcement, Schmidt will lead Chainlink’s scaling strategy as it evolves toward becoming the global standard for connecting blockchains to real-world data and systems.
“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,”
noted Chainlink co-founder Sergey Nazarov in the company’s official statement.
Under Schmidt’s 10-year leadership as CEO, Google dramatically scaled its infrastructure; conducted a successful $23 billion initial public offering; launched popular products like Gmail, Google Maps, Chrome, Adsense, and Fiber; and acquired key technologies and services such as YouTube and Android. Chainlink is looking to duplicate some of that market-moving mojo for itself.
“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,”
stated Schmidt in the official Chainlink statement.
“Chainlink is a secret ingredient to unlocking the potential of smart contract platforms and revolutionizing business and society.”
As a blockchain agnostic network, Chainlink will be at the center of what is increasingly a multi-blockchain ecosystem. LINK currently has a $9.6 billion market cap placing it in the 20th position on CoinGecko as of this writing, and it’s currently priced at $20.71 per unit.
On The Flipside
- There’s a saying among corporate leaders, “What got you here, won’t get you there.”
- It will be interesting to see if Schmidt’s past Google success can prosperously translate toward Chainlink’s future on-chain aspirations.
Why You Should Care?
Chainlink is a critically important player within the crypto- and blockchain-space that’s woefully undervalued. The Chainlink project currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries. Basically, without Chainlink – DeFi does not exist. Once people understand that, expect LINK to skyrocket in value.