US Department of Commerce to Publish Economic Data on Public Blockchains

US Department of Commerce Announces Economic Data on Blockchain

The US Department of Commerce has made a groundbreaking announcement regarding the publication of economic data, stating that for the first time, this data will be recorded on public blockchains. Secretary of Commerce Howard Lutnick emphasized that this initiative not only ensures the transparency and immutability of the data but also positions the United States as a leading nation in the blockchain sector. The GDP data for the second quarter of 2025 has been cemented using various blockchains, including Bitcoin, Ethereum, and Solana.

"This measure aims to establish the USA as the 'Blockchain Capital' of the world," said Secretary Lutnick.

In a significant move, the Department will publish its statistics on the blockchain to enhance data dissemination and promote public usage. An official hash of the quarterly GDP data was released to demonstrate the immutability of the information.

Summary: The USA is set to publish economic data on the blockchain for the first time, enhancing transparency and potentially strengthening its role in the blockchain sector.

Avalanche Leads in Blockchain Transaction Growth

Avalanche has reported a remarkable transaction growth of over 66% in the past week, surpassing all other blockchain networks. This surge may be attributed to increased investor interest in the Avalanche (AVAX) token, particularly following the US Department of Commerce's announcement to publish GDP data on decentralized blockchains, including Avalanche.

The Department plans to release GDP reports on nine public blockchain networks starting July 2025. This initiative is viewed as a proof-of-concept for the entire government and could support the vision of the Trump administration to make the USA the "world center" for crypto and blockchain.

Summary: Avalanche experiences significant transaction growth, benefiting from the US Department of Commerce's announcement regarding blockchain-based economic data publication.

Chainlink Partners with US Department of Commerce

Chainlink has partnered with the US Department of Commerce to bring essential macroeconomic data onto the blockchain. This collaboration involves encoding data such as real GDP and the PCE price index. Analysts view this step as a means to restore trust in US data, which has been undermined by previous reports.

The announcement led to a rise in the LINK token price, as Chainlink is considered a key technology for integrating economic data onto the blockchain. While the complete list of blockchains participating in this initiative remains unclear, the collaboration with several open-source blockchains is deemed significant.

Summary: Chainlink collaborates with the US Department of Commerce to encode macroeconomic data on the blockchain, potentially strengthening trust in US data.

Vietnam Blockchain Festival 2025

The Vietnam Blockchain Festival 2025 took place on August 29 in Da Nang, focusing on promoting blockchain applications across various economic sectors. The event provided a platform for exchanging ideas and discussing Vietnam's position in the global blockchain market.

Experts highlighted that Vietnam benefits from its young, dynamic workforce and rapidly growing digital market. The government plans to create a favorable environment for the development of blockchain technologies to enhance the country's competitiveness.

Summary: The Vietnam Blockchain Festival 2025 promotes the application of blockchain technologies across sectors, showcasing Vietnam's potential in the global blockchain market.

Sources:

• US-Handelsministerium präsentiert bahnbrechende Wirtschaftsdaten auf Blockchain!