The U.S. Commerce Department will start posting important economic data, including GDP reports, on the blockchain directly. Commerce Secretary Howard Lutnick made the announcement at a White House cabinet meeting, describing it as a move toward greater efficiency and transparency.
Lutnick indicated the change begins with GDP but potentially could go across agencies, providing markets and the public quicker, tamper-evident access to federal data.
“The Department of Commerce is going to begin publishing its stats on the blockchain because you are the crypto president,” he informed President Trump.
By putting data on the blockchain, the government seeks to lower the risk of fraud, increase confidence, and offer real-time figures verified in real-time.
The action comes after recent U.S. initiatives incorporating blockchain technology into economic infrastructure, such as the GENIUS Act endorsing stablecoins.
According to analysts, blockchain-reporting can increase investor confidence and represents one of the largest government endorsements of the tech.
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