Eric Schmidt, the former CEO of the giant Google, recently expressed his enthusiasm for Chainlink. For him, it is a "winner" in the cryptocurrency ecosystem. Here's what the blockchain industry oracle said.

Dithyrambic statements on the oracle of the stars

During the SmartCon 2022 conference in New York, Eric Schmidt had the opportunity to speak with Sergey Nazarov, founder and CEO of ChainLink Labs. During the interview, the former Google executive expressed words of praise for one of the main projects in the cryptocurrency sector. In the interview with Sergey Nazarov, he stated:

If you look at the winning Web 2 companies, they are the ones with the best technology. They put capital to work, they evolved and grew faster. Since these are networked companies, once you have an advantage it is very difficult to catch up. In the case of Chainlink, because you were precocious and very intelligent, you were the first to go and ahead of its time.

He adds that technology is behind the project:

The winners, and this is the case with Chainlink, have better technology and better fit. From my IT point of view, you have the right architecture to go from 10 users to 10 million users.

Rave reviews that should boost investor confidence in Chainlink. The stellar oracle continues to grow and welcomes these recent statements, especially as they come from an important voice in the world of the web and beyond.

At what point is Chainlink?

Chainlink is one of the oldest projects in the blockchain industry. This project is an oracle service used by many blockchains. This network of oracles will retrieve information from outside the blockchain and put it at the service of networks such as Ethereum, Avalanche or Solana. Chainlink aims to connect the world of blockchain to the outside world.

Earlier this month, Chainlink Labs announced that its ecosystem includes more than 1.500 projects across 15 blockchains. This is a significant number that testifies to how much the Oracle service has established itself in the blockchain world.

Chainlink announces partnership with Swift

Another big news for Chainlink is the partnership with the Swift interbank messaging system. The messaging system, which recently hit the headlines for the Russian invasion of Ukraine, is the most widely used interbank communication platform in the world for cross-border payments. Swift connects more than 11.000 banks around the world and carries out more than 40 million transactions per day.

Swift will use Chainlink's Cross Chain Interoperability Protocol (CCIP) to transfer digital assets across a wide range of blockchains. These transfers are safe and do not require the use of a bridge. The latter are regularly subject to attacks and hacking. For Vitalik Buterin and many observers, they are one of the current weaknesses of decentralized finance.

According to the CEO of Chainlink Labs, this partnership will accelerate the adoption of blockchain technology by the traditional finance world. According to Swift's Chief Strategy Officer, investors are increasingly interested in digital assets. They also want to be able to invest in this type of business and more traditional ones in one place.

La quotation of LINK did not react positively to these latest announcements. The token is currently trading at around $ 7,3, down nearly 7,15% over the past 7 days. It's down 86% from its ATH of $ 52,88 in May 2021.

In a bear market environment, it is always difficult to see a project's share price emerge from its slump. According to CoinMarketCap, Chainlink still ranks 22nd by capitalization in the industry. It is also the largest oracle in terms of market capitalization.