Former Google CEO Eric Schmidt Joins the Chainlink Labs Team

The cryptocurrency and blockchain space has attracted numerous executives over the past few years, with most of them switching from the traditional financial system to focus on Bitcoin and other cryptocurrencies.

Eric Schmidt to Serve as a Strategy Advisor

Chainlink Labs, the development team behind the Chainlink blockchain, announced yesterday that former Google CEO Eric Schmidt is joining them. Schmidt will assume the role of a strategy advisor and help Chainlink Labs achieve some of its desired goals.

In a press release yesterday, Chainlink Labs said, “Chainlink Labs, the organization developing the global standard powering mainstream blockchain adoption, today announced that Eric Schmidt, former Google CEO, has signed on as a strategic advisor to guide the team working to build a world powered by truth.”

Chainlink has attracted some big names into its ecosystem in recent months. Deutsche Telekom’s T-Systems, Swisscom, and the Associated Press are some of the leading companies in the world that are using the Chainlink blockchain.

Schmidt is expected to help the team expand its scope thanks to his massive wealth of experience. He served as Google’s chief executive officer from 2001 to 2011, overseeing the launch of numerous products such as Gmail, Google Maps, Chrome, AdSense, and Fiber.

It was also under his leadership that Google conducted a successful IPO and bought Android and YouTube. Schmidt had no prior engagement with any cryptocurrency or blockchain project. However, he maintains that the launch of smart contracts and blockchains have demonstrated tremendous potential for the building of new business models.

LINK Rallies by More Than 10%

LINK, the native coin of the Chainlink ecosystem, has been performing excellently since the team announced Eric Schmidt’s appointment. In the past 24 hours, LINK’s value has increased by more than 12%. At press time, LINK is trading at $22.60 per coin.

Despite its recent rally, LINK has underperformed in recent weeks. The MACD line is below the neutral zone as the coin’s price is down by more than 17% over the past seven days. The RSI of 35 shows that LINK is still within the oversold region. LINK is also trading below its 50-day moving average of $28.81.

However, the cryptocurrency’s price could recover over the coming weeks as the broader crypto market slowly bounces back from its recent slump.