The U.S. government has officially begun publishing gross domestic product (GDP) data on public blockchains, marking a significant shift in America’s economic reporting. According to Bloomberg, the Commerce Department announced on Thursday that GDP data would now be available on nine networks, including prominent cryptocurrencies like Bitcoin, Ethereum, and Solana. This move, while not a replacement for traditional economic data releases, serves as “another avenue” for distribution, according to Commerce officials.

The initiative carries substantial symbolic weight, effectively placing the government’s seal of approval on a technology once met with deep skepticism in Washington. Mike Cahill, chief executive officer of Douro Labs, who collaborated with the Commerce Department on this project, stated that “the entire administration has embraced this,” ushering in a world where government data resides on blockchains, allowing market participants to engage in real time.

Technically, the blockchain initiative involves posting cryptographic hashes of GDP data, which act as digital fingerprints to verify the information’s integrity. This process is notably powered by Chainlink, a prominent “oracle” provider, which enables the direct publication of data onto blockchain networks. Following the announcement, the price of Chainlink’s native token, LINK, surged by more than 6%, with Chainlink hailing this collaboration as a “key milestone” for government adoption of blockchain technology. Chainlink’s technology is also utilized by major entities such as SWIFT, BNY Mellon, BlackRock, Visa, and Mastercard.

Commerce Secretary Howard Lutnick spearheaded the project, telling President Donald Trump earlier in the week that statistics would be issued via blockchain because he is the “crypto president.” This initiative reflects a sharp departure from the previous administration, where former President Joe Biden’s regulators adopted a cautious stance toward crypto, 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 created a U.S. Bitcoin reserve, stockpiled coins like Ether and Solana, signed legislation regulating stablecoins, and appointed crypto-friendly regulators who ended enforcement actions against companies like Coinbase. Trump’s family has also expanded its presence in the digital asset space, backing ventures such as World Liberty Financial. The growing political influence of the industry is evident, with crypto firms donating heavily to Trump’s reelection campaign and contributing over $133 million to super PACs supporting pro-crypto candidates in 2024.

The Commerce Department’s embrace of public blockchains aligns with other agencies experimenting with crypto technology. The Department of Homeland Security has explored blockchain for airport passenger screening, and California’s DMV has digitized car titles on crypto, as reported by Bloomberg. This widespread adoption underscores a profound shift in U.S. economic policy, further cementing Bitcoin’s status as a powerful political and financial force in Washington as Trump positions himself as the “crypto president.”

In related economic news, the U.S. economy unexpectedly expanded by 3.3% in the second quarter, with consumption at 1.6%. This marks the best quarter since Q3 2023, and the latest GDP figure was revised from an initial 3%. While economist Heather Long notes that the data shows the U.S. economy is slowing, it “clearly” continues to grow. Despite this relatively strong economic data, the Federal Reserve is still widely anticipated to cut rates next month.