The U.S. government has officially commenced the publication of gross domestic product (GDP) data on public blockchains, a move announced by the Commerce Department on Thursday, according to Bloomberg. This significant development integrates blockchain technology into the core of America’s economic reporting, making GDP figures accessible across nine distinct networks, including prominent ones like Bitcoin, Ethereum, and Solana. This initiative is not intended to replace traditional economic data releases but rather serves as “another avenue” for distribution, as emphasized by Commerce officials. Nevertheless, it carries substantial symbolic weight, as it effectively bestows a governmental seal of approval on a technology that was previously regarded with deep skepticism within Washington.

Mike Cahill, CEO of Douro Labs, who has collaborated with the Commerce Department on this project for two months, stated, “With today’s announcement we are now in a world where government data lives on blockchains, and market participants can participate in real time.” The blockchain initiative specifically involves posting cryptographic hashes of GDP data, which act as digital fingerprints to verify the information’s integrity. Officials confirmed that President Donald Trump’s administration intends to expand this program further, signifying a long-term commitment.

The project was spearheaded by Commerce Secretary Howard Lutnick, who reportedly told President Trump earlier in the week that statistics would be issued via blockchain “because you are the crypto president.” Lutnick has also previously advocated for a revised approach to GDP reporting that would exclude the impact of government spending. This initiative represents a stark departure from the preceding administration under former President Joe Biden, during which regulators adopted a cautious stance towards cryptocurrencies, often clashing with exchanges and imposing restrictions on digital assets.

In contrast, President Trump has swiftly moved to integrate Bitcoin into government policy since taking office. His administration has established a U.S. Bitcoin reserve, stockpiled various digital coins such as Ether and Solana, signed legislation to regulate stablecoins, and appointed crypto-friendly regulators who have ended enforcement actions against major platforms like Coinbase. Furthermore, the Trump family has expanded its involvement in the digital asset sector, backing ventures such as World Liberty Financial. The growing political influence of the crypto industry is evident, with crypto firms making substantial donations to Trump’s reelection campaign and contributing over $133 million to super PACs supporting pro-crypto candidates in 2024, as reported by OpenSecrets.

Crucially, the data is being published directly on these blockchain networks with the assistance of Chainlink, a prominent “oracle” provider. Following this announcement, the price of the LINK token saw a surge of over 6%. Chainlink has hailed this collaboration as a “key milestone” for the government adoption of blockchain technology, noting that its technology is also utilized by major entities such as SWIFT, BNY Mellon, BlackRock, Visa, and Mastercard. The Commerce Department’s embrace of public blockchains aligns with other agencies exploring crypto technology, including the Department of Homeland Security considering blockchain for airport passenger screening and California’s DMV digitizing car titles on crypto.

In related economic news, the U.S. economy demonstrated stronger-than-expected growth, expanding by 3.3% in the second quarter, with consumption rising by 1.6%. This marks the best quarter since Q3, 2023, and represents an upward revision from an initial estimate of 3%. Economist Heather Long noted that while the data suggests the U.S. economy is slowing, it “clearly” continues to grow. Despite these relatively robust economic figures, the Federal Reserve is still widely anticipated to implement interest rate cuts next month.

As President Trump positions himself as the “crypto president,” the adoption of blockchain for GDP distribution signifies a profound transformation in U.S. economic policy. This move further solidifies Bitcoin’s position as a powerful political and financial force within Washington.