Google ex-CEO joins Chainlink

Tue 07 Dec 2021 ▪ 21h36 ▪ 3 min read — by Mary Anderson

Google’s products are immensely popular nowadays, and its software has changed the world. But of course, Rome wasn’t built in a day. Initially, it was just a technology startup headed by Eric Schmidt, who led the company to truly incredible heights.

Now, one of the most well-known companies in the field of cryptocurrencies, Chainlink, has announced that Schmidt has become its strategic adviser. This means that now the former CEO of Google will guide this company in its future growth and development.

Eric looks forward to work and says he recognises the huge potential of this company. However, to understand what he means by saying that, you need to find out what is Chainlink’s role in the world of crypto.

What does one of the most successful cryptocurrency companies do?

As you know, blockchains are initially isolated systems, as are smart contracts that work in them. This prevents them from realising the full potential of this technology since they simply have nowhere to take information for the implementation of transactions from.

And then the so-called oracles come to the rescue to solve this problem. They link information from the outside world with blockchains and provide secure data exchange between them and other autonomous systems such as data providers, payment systems or electronic signatures.

Chainlink does exactly that. Currently, this company is engaged in ensuring the operation of DeFi, insurance and even gambling based on various blockchains. It offers a universal gateway between global enterprises, leading data providers, and blockchains.

Now, this company has great hopes for its new employee, who is already full of ideas for Chainlink, as the company stated. Schmidt himself noted that the main advantage of blockchain, its isolation, is also a huge disadvantage. That is why he intends to make every effort in his new workplace to solve this problem. Only time will tell whether Chainlink will follow in Google footsteps and achieve worldwide fame. 

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Mary Anderson

I am sure that crypto assets are a new type of economy. We are at the origins of the crypto revolution. Right now, it is worth studying what cryptocurrencies and the blockchain are in order to make the most of this knowledge and these skills in the future.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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