US Commerce Secretary Lutnick has announced plans to publish data on a blockchain platform, marking a significant step towards integrating crypto technologies into the public sector.
Data Initiative Announcement
US Commerce Secretary Lutnick announced that the Department of Commerce intends to publish statistics and data via a blockchain platform, including Gross Domestic Product (GDP) data.
Potential Networks for Implementation
While the specific cryptocurrency network to be used has not been disclosed, Lutnick noted that the Department of Commerce may either build a private network or utilize established networks such as Ethereum or Solana.
Lutnick's Remarks and Key Points
In his remarks, Lutnick also addressed issues regarding subsidies for automobile manufacturers in Japan and Europe, emphasizing the necessity of US participation. He raised concerns about potential fraud involving Federal Reserve Chairman.
CITE_NA: "The Department of Commerce will start publishing statistics on blockchain. We are clarifying details about using blockchain for GDP."
The US Commerce Department's initiative to adopt blockchain technology for data publishing may significantly impact the cryptocurrency market and governmental statistics.
