The US Department of Commerce has made a significant announcement regarding the publication of Gross Domestic Product (GDP) data on the blockchain, utilizing technologies from Chainlink and Pyth.
Announcement of GDP Data Publication
US Commerce Secretary Howard Lutnick stated that starting from July 2025, data regarding real GDP will be published on the blockchain. This announcement has sparked discussions in the industry since the integration of economic data into blockchain could change the methods of financial data analysis.
Technical Details and Plans
For the transfer of GDP and other macroeconomic indicators, such as the Personal Consumption Expenditure Index, Chainlink and Pyth oracles will be utilized. The data will be updated monthly or quarterly and will be available on blockchains including Bitcoin, Ethereum, Solana, and others.
Future of Data Transfer on Blockchain
The Department of Commerce also indicated plans to further expand and innovate the means of publishing data, including integrating additional blockchains and oracle networks in the future. Partnerships with Coinbase, Kraken, and Gemini will also play a crucial role in this data dissemination process.
The initiative by the US Department of Commerce to publish GDP data on the blockchain marks a significant forward step in utilizing decentralization technologies for macroeconomic analysis. This opens new possibilities for transparency and accessibility of economic information.
