The United States government, through its Commerce Department, has officially commenced publishing gross domestic product (GDP) data on public blockchains. This landmark initiative, first announced on a Thursday, integrates blockchain technology into the core of America’s economic reporting. The GDP data is now accessible on nine distinct networks, including prominent cryptocurrencies like Bitcoin, Ethereum, and Solana, marking a significant step in the adoption of digital assets by federal agencies.

Commerce officials clarified that this blockchain rollout serves as “another avenue” for data distribution rather than a replacement for traditional economic data releases. Despite this, the move carries substantial symbolic weight, as it signifies the government’s formal endorsement of a technology previously met with deep skepticism in Washington. Mike Cahill, CEO of Douro Labs, who collaborated with the Commerce Department on this initiative, 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.” This integration involves posting cryptographic hashes of GDP data, which act as digital fingerprints to ensure the integrity and verifiability of the information.

The project was spearheaded by Commerce Secretary Howard Lutnick, who reportedly informed President Donald Trump that statistics would be issued via blockchain due to Trump's embrace of the crypto space, labeling him the “crypto president.” This initiative represents a sharp contrast to the previous administration under President Joe Biden, which maintained a cautious regulatory stance towards cryptocurrencies, often clashing with exchanges and imposing restrictions on digital assets.

President Trump has rapidly moved to integrate Bitcoin and other digital assets into government policy since taking office. His administration has established a U.S. Bitcoin reserve, stockpiled various coins such as Ether and Solana, signed legislation to regulate stablecoins, and appointed crypto-friendly regulators who have ended enforcement actions against major exchanges like Coinbase. Beyond government actions, Trump's family has also 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 through significant donations to Trump's reelection campaign and contributions exceeding $133 million to super PACs supporting pro-crypto candidates in 2024.

The technical underpinning for publishing this data directly on blockchain networks is provided by Chainlink, a prominent “oracle” provider. Following this announcement, the price of Chainlink's native token, LINK, surged by over 6%. Chainlink views this collaboration as a “key milestone” for government adoption of blockchain technology, highlighting its technology's existing use by major entities such as SWIFT, BNY Mellon, BlackRock, Visa, and Mastercard. Leading U.S. cryptocurrency exchanges like Coinbase and Gemini also assisted the Commerce Department in implementing this change.

This initiative places the Commerce Department alongside other agencies that are exploring crypto technology. For instance, the Department of Homeland Security has considered blockchain for enhancing airport passenger screening, and California’s DMV has already digitized car titles using crypto technology. As President Trump solidifies his image as the “crypto president,” the adoption of blockchain for GDP data distribution signals a profound transformation in U.S. economic policy, further cementing Bitcoin’s role as a potent political and financial force in Washington.

In related economic news, the U.S. economy demonstrated stronger-than-expected growth, expanding by 3.3% in the second quarter, with consumption increasing by 1.6%. This figure, revised from an initial 3%, marks the best quarter since Q3, 2023. While economist Heather Long notes that the data indicates a slowing economy, it “clearly” continues to grow. Despite this relatively robust economic performance, the Federal Reserve is still widely anticipated to implement interest rate cuts next month.