The U.S. may soon start publishing key economic data on the blockchain, according to Department of Commerce Secretary Howard Lutnick.
Summary
- U.S. Department of Commerce Secretary Howard Lutnick has confirmed plans to publish key economic data on the blockchain.
- No timeline for implementation has been disclosed.
As he was addressing US President Donald Trump and other government officials during a White House cabinet meeting on Aug. 26, Lutwick said the Department of Commerce will start issuing its statistics on the blockchain.
“Because you are the crypto president […] we are going to put our GDP on the blockchain so people can use it for data and distribution.”
Not much was revealed regarding which blockchain the government may use, but considering the president’s affinity towards U.S.-developed technologies, platforms like Solana, built by U.S.-based Solana Labs, or Ripple’s XRP Ledger, from Ripple Labs in San Francisco, could be among the domestic platforms under consideration.
Other domestic projects, such as Aptos, which was among the top picks for Wyoming’s Stable Token pilot program launched earlier this year, may also be on the agency’s radar.
Initially, the agency plans to publish GDP figures using blockchain rails, with other economic indicators expected to follow.
Eventually, the data would be made available for use across the entire federal government, he added.
Why will the U.S Department of Commerce publish economic data on blockchain?
Department of Commerce datasets, like census information and GDP estimates, are already public, but putting them on-chain would add a layer of immutability, auditability, and also enable faster access and sharing across networks.
Lutnick made it quite evident that the decision to integrate blockchain technology fits Trump’s broader pro-crypto agenda.
The Trump administration has previously mulled integrating blockchain tech into other arms of the government.
For instance, earlier this year, a leaked memo acquired by the media suggested lawmakers were reviewing plans to restructure the U.S. Agency for International Development (USAID) and implement a blockchain-based procurement system.
Even Elon Musk, prior to his fallout with Trump, had proposed integrating blockchain technology into certain functions of the federal government.
That being said, across the globe, several jurisdictions such as the European Union, India, Estonia, Georgia, and Sweden, among others, have already experimented with blockchain in public administration.
As of now, no timeline for the rollout has been announced, but Lutnick said the initiative is being coordinated with the White House’s top crypto adviser, David Sacks, once the Department of Commerce finishes “ironing out all of the details.”
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