In a landmark step for blockchain adoption, the U.S. Commerce Department has begun publishing gross domestic product (GDP) data directly onto nine different blockchain networks, including Bitcoin and Solana.
The initiative, hinted at earlier this week by Commerce Secretary Howard Lutnick, officially launched Thursday, according to a Bloomberg report. The department partnered with major U.S. crypto exchanges such as Coinbase and Gemini to bring the project online, ensuring that economic data can now be verified transparently across multiple distributed ledgers.
Chainlink Powers the Data Feed
The blockchain integration is being powered by Chainlink, one of the most widely used data providers in the industry. By delivering GDP figures directly onto decentralized networks, Chainlink’s technology effectively bridges the gap between government data and blockchain infrastructure.
The announcement sparked a rally in Chainlink’s token, LINK, which jumped more than 6% following the news. The company called the rollout “a key milestone” for public-sector adoption, noting that its oracle services are already relied upon by institutions such as SWIFT, BlackRock, BNY Mellon, Visa, and Mastercard.
Economic Snapshot
The timing of the release coincides with stronger-than-expected economic performance in the U.S. GDP rose 3.3% in Q2, revised up from an earlier estimate of 3%, marking the best quarter since late 2023. Consumer spending accounted for 1.6% of the growth.
Despite signs that the economy is slowing, economists like Heather Long noted that expansion remains “clear and steady.” Markets are still widely expecting the Federal Reserve to cut interest rates in the coming month, despite the upbeat figures.
Why It Matters
By anchoring official government data to public blockchains, the U.S. is signaling a willingness to experiment with digital infrastructure in ways that go beyond financial markets. The move not only boosts transparency but also gives blockchain technology a level of legitimacy many in the crypto sector have been pushing for years.
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Source: https://coindoo.com/bitcoin-solana-and-other-blockchains-now-host-u-s-government-gdp-data/