The United States government officially began to publish data on the gross domestic product (GDP) on public blockchains. According to Bloomberg, the announcement of the Department of Commerce Thursday Porta Blockchain in the nucleus of American economic relations, making GDP available on nine goals including Bitcoin, Ethereum and Solana.
Commerce officials stressed that the launch of Blockchain is not a substitute for the release of traditional economic data, but rather “another road” for distribution, according to Bloomberg. The move, however, brings a significant symbolic weight, as it actually places the government approval seal on technology once seen with profound skepticism in Washington.
“The entire administration embraced this,” said Mike Cahill, CEO of Duro Labs, who confirmed that he worked with the Department of Commerce on the initiative in the last two months. “With today’s announcement we are now in a world where government data live on Blockchain and the market participants can participate in real time.”
The Blockchain initiative provides for the publication of encrypted GDP data hash, which act as fingerprints to verify the integrity of the information. Although initially limited at hand, the officials of the Department of Commerce confirmed that the administration of President Donald Trump intends to further expand the program, reported Bloomberg.
The Secretary of Commerce Howard Lutnick guided the project, telling Trump at the beginning of this week that the statistics would have been issued via Blockchain “because you are President Crypto”. Lutnick previously suggested remodeling GDP reports by removing the impact of public spending.
The initiative reflects a strong removal from the previous administration. Under the former president Joe Biden, the regulators have adopted a cautious position against the crypt, often collide with exchanges and imposing restrictions on digital activities. On the contrary, Trump moved quickly to integrate Bitcoin into government policy. Since it came into office, she has created a Bitcoin reserve in the United States, coins accumulated such as Ether and Solana, signed the legislation that regulates the Stablecoin and appointed cryptographic regulators who have put an end to the execution actions against Coinbase.
Trump’s family has also deepened its presence in the digital resources space, supporting initiatives such as World Liberty Financial. The growing political weight of the sector is evident: the cryptocurrencies have heavily donated to the Trump re -election campaign and contributed to over $ 133 million to the Super Pacs in support of the candidates in favor of the Crypto in 2024, according to Opensecrets.
By exploiting public blockchains, the Department of Commerce joins other agencies that experience cryptographic technology. The National Security Department considered the blockchain for the projection of airport passengers, while California DMV digitized the car titles on Crypto, according to Bloomberg.
While Trump positions himself as the “Crypto President”, the adoption of the blockchain for the Pil Distribution reports a profound change in the economic policy of the United States – and further retain Bitcoin as a powerful political and financial force in Washington.