- Chainlink (LINK) becomes the official partner of the US Department of Commerce in releasing its economic data on the blockchain.
- The agency has started publishing its report on-chain on Thursday, showing a 3.3% growth in the USA’s GDP.
Chainlink (LINK) revealed its partnership with the US Department of Commerce on Thursday. This comes hot on the heels of Commerce Secretary Howard Lutnick’s statement at the start of the week that they will start publishing economic reports on the blockchain.
The US Department of Commerce and Chainlink Tie-Up
Chainlink’s Data Feeds will securely deliver critical information around key US economic data on-chain. It will include important information on Real Gross Domestic Product (GDP), Personal Consumption Expenditures (PCE) Price Index, and Real Final Sales to Private Domestic Purchasers.
It’s not yet clear if the system will migrate other government data on-chain, but Lutnick proposed that other agencies should follow his department’s move for transparency and easier inter-agency coordination.
The US Government’s Collaborations with Chainlink
Chainlink claimed that it accelerated its work with the US government this year. The blockchain entity said it has been in talks with several key officials and regulators to convince them to adopt its policy recommendations to boost the growth of the blockchain and crypto sector.
The Chainlink team specifically mentioned engaging with the Securities and Exchange Commission (SEC) to share its insights on broker-dealer and transfer agency compliance using blockchain infrastructure. The information eventually helped the regulator craft its interpretative guidance on the matter.
Additionally, the company has been an active contributor to the SEC Crypto Task Force and President Donald Trump’s Working Group on Digital Asset Markets’ efforts to reinforce the blockchain and crypto goals of the government. Chainlink co-founder Sergey Nazarov was notably present at the White House during Trump’s signing of the USA’s landmark GENIUS Act governing stablecoins.
US Puts Economic Data on Blockchain for the First Time
On the same day of Chainlink’s confirmation of its partnership with the US government, Lutnick announced that the Commerce Department had already begun putting America’s economic data on blockchain. The event marked the first time the US government has integrated a blockchain solution into its economic reporting. Moreover, the official pointed out that the decision aligns with the Trump administration’s aim of turning the US into the “crypto capital of the world.”
“It’s only fitting that the Commerce Department and President Donald Trump, the Crypto-President, publicly release economic statistical data on the blockchain,” said Lutnick. “We are making America’s economic truth immutable and globally accessible like never before, cementing our role as the blockchain capital of the world.”
In their latest data, Trump’s cabinet member highlighted that the US GDP rose by 3.3%. The numbers surpassed many analysts’ predictions during the second quarter of the year.
“And everybody has to admit that 3.3% GDP growth is impressive,” Lutnick added.
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