Chainlink, a leading decentralized oracle network, has partnered with the U.S. Department of Commerce to place official economic data on blockchain platforms. This opens up access to verified government information for developers and institutions.
Turning Government Data Into Real-Time Blockchain Access
Government economic data has traditionally been shared through reports and charts, making it slow and cumbersome to use. With Chainlink’s oracle technology, the U.S. government can now share its economic data directly onchain. This creates a fast and secure link between official data and the decentralized finance sector.
U.S. Government Economic Indicators Available Onchain
At launch, Chainlink is delivering six key economic indicators, such as real gross domestic product and the PCE price index. These metrics are updated quarterly or monthly and are already live across ten major blockchain ecosystems, including Ethereum and Arbitrum. Additional types of data can be added in the future.
Chainlink Deepens Ties With U.S. Government and Regulators
This collaboration with the Department of Commerce builds on a steady series of engagements with U.S. regulators. Chainlink co-founder Sergey Nazarov has discussed how blockchain infrastructure can comply with regulations. This underscores the growing cooperation between the blockchain industry and public institutions through the GENIUS Act.
The partnership between Chainlink and the U.S. Department of Commerce opens new avenues for utilizing official data on blockchain, enhancing the interaction between government data and digital markets.
