US Commerce Department Trials GDP Data on Bitcoin, Ethereum, and Solana Blockchains

The United States Department of Commerce is examining the potential of incorporating blockchain technology for the dissemination of economic data. The agency is presently experimenting with publishing Gross Domestic Product (GDP) data on the Bitcoin, Ethereum, and Solana blockchains. This pilot initiative aims to assess the possible advantages of blockchain technology in improving the transparency and accessibility of government data. The project entails employing smart contracts to automatically distribute GDP data across the specified blockchains. The Department of Commerce anticipates that this will enhance public confidence in government data and diminish the risk of manipulation. Furthermore, leveraging blockchain could streamline the data distribution process, rendering it more efficient and cost-effective. Experts are closely monitoring this experiment to evaluate the suitability of blockchain technology for other government data applications.