The U.S. Department of Commerce and Chainlink are bringing government macroeconomic data to the blockchain.

PANews reported on August 28th that Chainlink announced, in an official blog post, that it has partnered with the U.S. Department of Commerce (DOC) to bring U.S. government macroeconomic data from the Bureau of Economic Analysis (BEA) to blockchain. These new Chainlink data sources securely bring key information from key U.S. economic data to blockchain, including real gross domestic product (GDP), the personal consumption expenditures (PCE) price index, and actual final sales to private domestic buyers. Bringing U.S. government data to blockchain will unlock innovative use cases for the blockchain market, such as automated trading strategies, enhanced composability of tokenized assets, issuance of new digital assets, real-time prediction markets powered by crowdsourced intelligence, transparent dashboards driven by immutable data, and risk management for DeFi protocols based on macroeconomic factors.

The following six data points about the US economy are now available on-chain: Real GDP - Level, Real GDP - Percentage Change (Annualized), PCE Price Index - Level, PCE Price Index - Percentage Change (Annualized), Real Final Sales to Private Domestic Purchasers - Level, and Real Final Sales to Private Domestic Purchasers - Percentage Change (Annualized). This data will be updated monthly or quarterly, as appropriate, and will initially be available across ten blockchain ecosystems: Arbitrum, Avalanche, Base, Botanix, Ethereum, Linea, Mantle, Optimism, Sonic, and ZKsync. Support for more blockchain networks will be expanded over time based on user demand.