US Department of Commerce Embraces Blockchain for Macroeconomic Data Release

The US government has taken a significant step towards incorporating blockchain technology into its economic data dissemination efforts. US Commerce Secretary Howard Lutnick recently announced the department’s plan to publish US GDP data on the blockchain, with today’s announcement marking an official rollout of this initiative. 7 additional altcoin networks – Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Tron (TRX), Stellar (XLM), Avalanche (AVAX), and Arbitrum (ARB) – have been selected for delivering macroeconomic data via Chainlink and Pyth oracle solutions. Data updates will be published monthly or quarterly, according to Chainlink’s blog post. The US Department of Commerce has specified that GDP, Personal Consumption Expenditure Index (PCE), and US Domestic Demand Strength data will be securely transmitted to these blockchain networks using Chainlink and Pyth oracles. This partnership was supported by Coinbase, Kraken, and Gemini exchanges in the distribution process. The department’s initiative involves a phased rollout: real-time GDP data from July 2025 will be published on the mentioned blockchains, with the initial release encompassing quarterly GDP data for 2025. The US Commerce Department has further indicated its commitment to expanding this pilot program and exploring new blockchain implementations in the future. This endeavor is not investment advice.