The U.S. Department of Commerce is pioneering the use of blockchains for distributing essential economic statistics, starting with its release of gross domestic product (GDP) figures reported on nine different blockchains.

Secretary of Commerce Howard Lutnick praised former President Donald Trump’s initiative in adopting such technology and affirmed that this strategy would strengthen the U.S.’s position as a leader in the global economic landscape.

Key Points:

• The Department of Commerce has commenced the trial of distributing vital federal economic reports through blockchain technology, with GDP figures published across multiple platforms.
• Lutnick acknowledged Trump’s guidance, highlighting its significance in establishing a robust future for blockchain applications in governmental processes.

“We are making America’s economic truth immutable and globally accessible like never before, cementing our role as the blockchain capital of the world,” said Secretary of Commerce Howard Lutnick.

In an inclusive approach to blockchain technology, the department released its data on Bitcoin, Ethereum, Solana, TRON, and others while also engaging with notable exchanges for facilitating these transactions. The July GDP data is publicly accessible as a PDF document from the Bureau of Economic Analysis.

Continued innovation is expected as the Commerce Department indicates the likelihood of incorporating additional datasets in future blockchain publications.