The US Secretary of Commerce has announced a new initiative to publish Gross Domestic Product (GDP) data on the blockchain. This move aims to enhance transparency and trust in official statistics.
Technology as a Governance Tool
The use of blockchain by governments is not new. Estonia has been securing medical records via the KSI blockchain since 2016. This system has become the backbone of their digital identity infrastructure. The European Union launched the EBSI initiative, a cross-border project aimed at delivering reliable and decentralized public services.
Trust Issues with Data
However, this initiative raises a key question: data published on the blockchain is only as reliable as its source. The technology guarantees storage integrity and dissemination traceability, but not accuracy. The current political context heightens this issue.
Future of Blockchain in Governance
The US decision marks a symbolic step showing that blockchain is no longer confined to startups or tech giants, but is now entering the core of institutions. If successful, this experiment could extend to other sensitive areas such as census, taxation, and even election results.
Thus, placing GDP data on the blockchain represents a US effort to bolster trust in official statistics, while also raising crucial questions about the politicization of economic data.
