In a massive development, the U.S. government has begun issuing GDP data on the blockchain as part of the Trump administration’s latest crypto push. These blockchains include Bitcoin, Ethereum, Solana, and other networks.
U.S. Government Releases GDP Data On The Blockchain
According to a Bloomberg report, the government has begun distributing gross domestic product (GDP) data on public blockchains, including Bitcoin, Ethereum, and Solana. Commerce Department officials noted that this creates an additional avenue for publishing economic data and is not a replacement for the existing channels.
This development comes just days after Commerce Secretary Howard Lutnick’s statement that they would begin issuing GDP data and other economic data on the blockchain. He stated that they were making this move because Trump is the crypto president, who plans to make the U.S. the crypto capital of the world.
According to the report, the Commerce Department is targeting nine blockchains, including the top layer-1 networks Bitcoin, Ethereum, and Solana. There are also plans to expand the scope of this initiative in the future. Meanwhile, the goal is to make this economic data easily verifiable and accessible to everyone, thereby enabling transparency.
Interestingly, this move comes weeks after Trump fired the Commissioner of the Bureau of Labor Statistics over the release of the July nonfarm payrolls data, which the president claimed was manipulated. However, the Commerce Department clarified that this blockchain initiative is unrelated to that incident.
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Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand.
Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing.
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