This marks a major adoption of blockchain technology for official government economic reporting in the US.
The US Department of Commerce has begun publishing gross domestic product data across public blockchains, creating a new channel for distributing economic information alongside traditional methods.
The initiative targets nine blockchain networks, including Arbitrum, Avalanche, Base, Botanix, Ethereum, Linea, Mantle, Optimism, Sonic, and ZKsync. Chainlink and Pyth Network confirmed that the teams are working with the Department of Commerce to bring US macroeconomic data on-chain from the Bureau of Economic Analysis (BEA).
The latest development comes shortly after Commerce Secretary Howard Lutnick said Tuesday that the Department of Commerce would put GDP and other economic statistics on the blockchain.
The strategic move aims to utilize blockchain technology for enhanced data distribution, and the department is looking to broaden this approach across other government agencies.
