Haciyev Reşit 
U.S. Commerce Secretary Howard Lutnick announced that the country will begin publishing its economic data through blockchain technology. This move stands out as part of the government’s goal to enhance data transparency and streamline distribution.
Economic Data on Blockchain
In his statement, Lutnick noted that GDP figures will be published on blockchain, and in the future, other economic indicators will also be shared via blockchain. He added that these statistics will soon be accessible to all government agencies.
He emphasized that publishing data on blockchain will improve trust and transparency, in addition to existing publicly available information such as the U.S. Census.
Trump Administration and Support for Crypto
During a Cabinet meeting with President Donald Trump, Lutnick said:
“The Commerce Department will begin publishing its statistics on blockchain, because you are the crypto president.”
Lutnick also posted on social media platform X, stating:
“Technology is at the core of Trump’s presidency. This administration will use bitcoin, digital assets, and blockchain to move America forward and remain a leader in the global economy.”
Other Steps in Crypto and Finance
Under the Trump administration, several initiatives are underway regarding blockchain and crypto:
- Promoting dollar-backed stablecoins to strengthen the U.S. dollar’s global reserve status.
- Efforts by the SEC and CFTC to clarify which cryptocurrencies should be classified as securities.
Howard Lutnick was nominated by Trump in February as Commerce Secretary and was later confirmed. He had previously served as Chairman and CEO of Cantor Fitzgerald, where he had worked since 1983.
Cantor serves as custodian for USDT, the world’s largest stablecoin. Lutnick also delivered speeches supporting USDT at the Bitcoin 2024 conference.
The Future of Economic Data on Blockchain
The U.S.’s blockchain-based data management initiative will not only enhance transparency in economic reporting but also pave the way for broader adoption of crypto and blockchain technologies at the state level.
The timeline for the rollout and details on which blockchain will be used have not yet been disclosed, but additional economic indicators are expected to be published on blockchain in the coming period.
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