In a significant move, the U.S. government has begun publishing critical economic data, including Gross Domestic Product (GDP), on public blockchains. This initiative, spearheaded by Commerce Secretary Howard Lutnick, reflects a growing endorsement of the crypto industry by the Donald Trump administration.
The Commerce Department partnered with Chainlink to securely deliver data from the Bureau of Economic Analysis (BEA). Using Chainlink's oracle technology, key metrics like Real GDP, the Personal Consumption Expenditures (PCE) Price Index, and Real Final Sales to Private Domestic Purchasers are now available on ten different blockchain ecosystems, including Bitcoin and Ethereum.
This process involves placing cryptographic hashes of the data on the blockchains, allowing market participants to verify its integrity in real-time. According to officials, the initiative is not a replacement for traditional data releases but a new, verifiable distribution method. The plan is to expand this approach to other government agencies over time.
This development is also a sign of the crypto industry's growing political influence. Several major crypto exchanges—including Coinbase, Kraken, and Gemini—assisted the Commerce Department by purchasing the necessary crypto to facilitate the on-chain transactions.
August 2025, Cryptoniteuae