Recent news indicates that the US government has begun publishing gross domestic product (GDP) data on public blockchains, highlighting the increasing acceptance of blockchain technologies.
Blockchain Adoption Initiative
US Commerce Secretary Howard Lutnick announced the blockchain initiative during a cabinet meeting on August 26, stating that the push is attributed to Donald Trump being 'the crypto president.'
Collaboration with Chainlink
The Commerce Department has partnered with Chainlink to deliver macroeconomic data on-chain. Data points, including Real GDP and the Personal Consumption Expenditures Price Index, will be secured with cryptographic hashes to ensure data integrity.
Political Support for Crypto Industry
The crypto industry has established itself as a significant political force, backing crypto-friendly candidates during elections. As part of the initiative, the government also procured cryptocurrency from platforms such as Coinbase and Kraken.
The launch of GDP data publication on blockchain demonstrates increasing recognition and acceptance of the technology within US government structures and highlights ambitious plans to expand blockchain use in other areas.
