Google’s former CEO joins Chainlink Labs as a strategic advisor


Former Google CEO Eric Schmidt has joined Chainlink Labs as a strategic advisor, according to an announcement issued on Tuesday.

Schmidt led Google for over a decade, first as CEO between 2001 and 2011 as well as executive chairman of the search engine giant from 2011 to 2015. He also served as executive chairman of Alphabet Inc. — Google’s parent company — between 2015 and 2017.

According to the announcement shared with The Block, Schmidt will help Chainlink Labs — the developer behind blockchain oracle solution provider Chainlink — to achieve its multi-chain interoperability goals.

In the DeFi space, oracles usually provide information about the price of an asset. They can, however, be put to more uses pertaining to the provision of real-world information including sporting events and weather data among others.

In October, the Associated Press partnered with Chainlink to put journalistic information on the blockchain.

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With more than $100 billion in market cap across all chains, it is likely that the DeFi market cap will grow to $200 billion by 2025. However, many users still face various technical barriers when using decentralised platforms to do on-chain farming, staking and trading, while off-chain solutions face liquidity issues, fiat restrictions and the lack of a central multichain to support crypto assets and institutional-grade custodians. 
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