US Commerce Department to Publish GDP, Inflation Data On-Chain Through Chainlink

Cointelegraph reported on September 1 that the US Commerce Department is working with Chainlink to make key macroeconomic data, including gross domestic product and inflation indicators, available on public blockchains. It marks the first time a US federal agency has distributed official economic data on-chain.

Under the partnership, major economic indicators published by the Bureau of Economic Analysis, including real GDP and the personal consumption expenditures price index, will be provided on blockchain networks.

The on-chain data will be based on the BEA’s official releases. Updates are scheduled monthly or quarterly in line with the existing release calendar for those indicators.

Chainlink is an oracle network that delivers external data to blockchains. The partnership allows official US government economic data to be used on public blockchains.