U.S. Commercial Department Shifts Economic Data Storage to Blockchain Technology

The U.S. Commerce Department, under the leadership of Secretary Howard Lutnick, has announced plans to publish Gross Domestic Product (GDP) data on multiple blockchains starting from 2025. This groundbreaking move was revealed during a Tuesday White House cabinet meeting.

The intention is to expand blockchain-based data infrastructure across federal agencies, with the GDP data for the second quarter of 2025 already anchored on nine blockchains, including Bitcoin and Ethereum. The aim is to increase transparency and accessibility of official economic data, marking the first time a U.S. government agency uses blockchain for such economic statistics.

However, the details of the implementation of blockchain-based data infrastructure are still being finalized. The plan does not specify the extent of data to be transformed onto blockchain, nor does it mention the improvement of efficiency or reduction of paperwork as goals.

The U.S. is not alone in exploring blockchain technology for government purposes. The Emirates Blockchain Strategy, launched in 2018, aims to transform 50% of government transactions onto blockchain, with the goal of improving efficiency and reducing paperwork. Estonia, too, has already secured health records, land registries, digital identity, and government services on the blockchain, boasting 99% digital ID coverage of its citizens.

Secretary Lutnick shared the plans with President Donald Trump, stating that Trump is the "crypto president." The U.S. Commerce Department's plan to publish economic data on the blockchain is not exclusive; several governments worldwide are exploring blockchain technology. The announcement was made in an excerpt from the Unchained Daily newsletter.

It is important to note that the U.S. Commerce Department's plan does not mention the specific federal agencies involved in the expansion of blockchain-based data infrastructure. The department's plan also does not mention the specific federal agencies involved in the expansion of blockchain-based data infrastructure.

This development marks a significant step forward in the integration of blockchain technology into government operations, signifying a new era of transparency and efficiency in the management of official economic data.

U.S. Commercial Department Shifts Economic Data Storage to Blockchain Technology