Washington, DC – The Department of Commerce has published figures of the Gross Domestic Product (GDP) of the USA in multiple public block chains, a first movement of its kind intended to make the most important economic indicator in the country more transparent already proof of manipulations.
The announcement coincided with the launch of Thursday of the GDP of the second quarter, which showed that the economy expanded to an annualized 3.3%, a strong rebound of the decrease in the first quarter.
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US GDP in Public Blockchains
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The United States Department of Commerce begins to publish GDP data in nine blockchains, including Bitcoin, Ethereum and Solana.
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Insured data through cryptographic hashes for verification.
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Initiative backed by President Donald Trump and Commerce Secretary Howard Lutnick.
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Project developed with Coinbase, Kraken and Gemini that provide cryptographic infrastructure.
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Plan extend Blockchain publication to jobs and inflation data.
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The first time an important government has published economic statistics that move in the market on public blockchains.
GDP figures published in nine blockchains
Instead of releasing only through government websites and press newsletters, the Trade Department distributed cryptographic hashes of the GDP report in nine blockchains, including Bitcoin, Ethereum and Solana.
A cryptographic hash is a unique digital fingerprint of the data. Anyone worldwide can verify that official numbers coincide with the hash, ensuring that the figures cannot be altered or released in advance.
The Secretary of Commerce, Howard Lutnick, said the system provides “instant authentication” for investors and analysts. US encryption exchanges. UU. Cover the transaction rates to publish the data.
White House Backchain for official data launches
The launch reflects the widest hug of President Donald Trump of digital assets since he returned to office in January. Once a critic of cryptocurrencies, Trump has reversed the course, committed to making the United States the world leader in the adoption of Blockchain.
His administration has already launched a bitcoins reserve of the United States, supported pro-Crypto legislation and appointed industry-friendly regulators who have resolved long-standing disputes with great exchanges. Publishing GDP in blockchains is the last sign of how central digital assets have become their economic agenda.
“It’s not just about statistics, it is about showing the world that the United States leads in innovation,” said a tall White House official to journalists.
Economists question the reliability of blockchain data
In Wall Street, merchants focused on the growth of the strongest GDP than expected, but acknowledged that blockchain release could change the way markets respond to data in the future.
“The speed and trust in trade,” said an analyst analyst in New York. “If blockchain launches provide investors a faster confirmation, it could influence strategies around large economic ads.”
Economists, however, warned that although Blockchain makes manipulation almost impossible, does not resolve deeper challenges around the interpretation of economic data. “Hashes prove authenticity, not precision,” said Susan Grant, a former Federal Reserve economist. “Hard work is still in analyzing what GDP growth means for jobs, inflation and politics.”
Labor and prices data could be the following in blockchain
The authorities hinted that GDP can be just the beginning. The Office of Labor Statistics and the Treasury Department are studying whether to publish inflation reports, payroll data and even the results of the treasure auction using the same system.
Worldwide, no other important economy has distributed main economic data in this way. The European Union has tested the broadcast of Blockchain bonds, and China has tried accounting books distributed for commercial statistics, but none has attached a macroeconomic release of first level such as GDP to public block chains.
Commerce use blockchain to verify GDP data
The Commerce Department said that anchoring GDP figures to public blockchains is designed to provide investors a verifiable record that cannot be altered after the launch. The officials emphasized that the initiative is not a replacement for traditional publication, but an additional layer to protect against disputes over data accuracy.
The pilot deployment covers nine main blockchains, including Bitcoin, Ethereum and Solana. A cryptographic hash of each GDP report is published simultaneously, allowing anyone to confirm that the figures published by the Office of Economic Analysis coincide with the official data set.
When the process made public, the administration aims to reduce the accusations of data manipulation, particularly after the recent controversy about job reviews and growth figures. Analysts point out that this movement could become a template of how other sensitive economic indicators, such as inflation or unemployment, could be insured in the future.
Also read: The United States Secretary of Commerce plans to put GDP data in blockchain
(Tagstotranslate) US GDP BLOCK BLOCK GDP
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