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Former Google CEO is currently a strategic advisor at Chainlink Labs

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Schmidt, who has previously acclaimed Bitcoin as  "a remarkable cryptographic achievement" and has an approximate net worth of around $23.6 billion, will most probably be one of the wealthiest people serving as a Chainlink advisor

Eric Schmidt has joined oracle solutions provider Chainlink Labs as a strategic advisor. Schmidt was the chief executive officer of Google until 2011 and thereafter acted as executive chair of the tech company and its parent company Alphabet.

Schmidt will manage Chainlink's scaling plan in its utilization of Oracle networks to activate smart contracts, according to a Tuesday announcement. Schmidt's knowledge of "building global software platforms for next-generation innovation," as per Chainlink co-founder Sergey Nazarov, was a factor in the company's decision to appoint the former Google executive.

“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,” said Schmidt."

Schmidt worked on the boards of Apple, Princeton University, Carnegie Mellon University, and the Mayo Clinic, moreover Google and Alphabet. He was chair of the Department of Defense's Innovation Board and chair of the National Security Commission on Artificial Intelligence. Schmidt will most likely be one of the wealthiest people serving as an advisor to a crypto company, with an approximated net worth of around $23.6 billion.

Chainlink introduced its Cross-Chain Interoperability Protocol, or CCIP, previously this year, with the potential to leverage the platform's oracles "to enable users to move digital assets and execute smart contracts across the various chains used across the metaverse." The company claims to have more than $80 billion in value locked up in smart contracts and blockchain-based apps.

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