This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
Commerce Secretary Howard Lutnick announced during a Cabinet meeting on Aug. 26 that the Department of Commerce will begin issuing its statistical data — including Gross Domestic Product (GDP) — on the blockchain, describing President Trump as “the crypto president.”
Lutnick framed the initiative as a move to enhance data distribution by leveraging the inherent transparency, accessibility and immutability of the blockchain.
He said the plan will begin with GDP data but is intended to expand to additional government agencies.
“The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto president,” Lutnick said.
The plan focuses on releasing GDP figures onchain to enable people to “use the blockchain for data distribution,” Lutnick said. “We’re going to make that available to the entire government so all of you can do it.”
He noted that officials are “just ironing out all the details” to implement the program.
If carried out, the program would represent one of the first major implementations of blockchain technology for US government economic reporting.
By publishing GDP figures onchain, the Commerce Department aims to make official statistics more accessible, verifiable and resistant to manipulation.
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Source: https://blockworks.co/news/commerce-publishing-gdp-data-blockchain
