Chainlink (LINK), a blockchain company, announced today that Eric Schmidt, ex-Google CEO has been appointed as a strategic consultant for the network provider and oracle service 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 (NASDAQ:) 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 wants to copy some of the market-moving spirit.

“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,”
Schmidt made the statement in official Chainlink.

“Chainlink is a secret ingredient to unlocking the potential of smart contract platforms and revolutionizing business and society.”
Chainlink, a network that is blockchain-agnostic, will play a central role in what is becoming a multiblockchain 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.

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.

What are the reasons to care?

Chainlink is a critically important player within the crypto- and blockchain-space that’s woefully undervalued. Chainlink currently holds tens to billions in funding across DeFi and insurance as well as gaming and other important industries. Basically, without Chainlink – DeFi does not exist. Once this is understood, LINK will skyrocket as a value.

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