In a groundbreaking move towards digitizing the U.S. government, the Department of Commerce announced plans to publish key economic statistics, including Gross Domestic Product (GDP) data, directly on the blockchain. The announcement was made by Secretary of Commerce Howard Lutnik during a cabinet meeting at the White House on August 26, 2025, addressing President Donald Trump as the 'crypto-president.' 'The Department of Commerce will start issuing its statistics on the blockchain, and we will place GDP on the blockchain so that people can use it for data and distribution,' Lutnik stated. This initiative aims to modernize the dissemination of federal data, making it transparent, accessible, and resistant to manipulation due to the immutability of blockchain.
The plan starts with GDP, but there are plans to expand to other indicators such as inflation or employment across the government after technical details are agreed upon, including the choice of blockchain network (possibly Ethereum or Bitcoin). Lutnik noted that this will make data available to all agencies, enhancing policy coordination. The initiative aligns with Trump’s executive order from January 2025 promoting digital assets, as well as Elon Musk's earlier ideas about blockchain in government for spending transparency. Previously, Musk, as the director of DOGE (Department of Government Efficiency), explored blockchain for automation and security but without full implementation.
This step is one of the first mass applications of blockchain in U.S. economic reporting, which could reduce market volatility through instant access to data. Experts praise it for boosting trust: an immutable ledger would eliminate doubts about manipulation, as seen in recent employment data scandals. However, critics are concerned about privacy, regulatory challenges (e.g., compatibility with GDPR-like regulations), and technical risks. Globally, this sets a precedent: Estonia is already using blockchain for medical data, the EU for cross-border services, and California for vehicle registration.
The announcement coincided with Lutnik's forecast of Bitcoin growth and expectations of increased government BTC reserves. If implemented, this will accelerate the integration of Web3 into TradFi, making the U.S. economy a leader in digital transparency. The market reacted positively: crypto assets rose by 2-5% following the news.
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