2 weeks ago
The U.S. authorities has begun utilizing blockchains to disseminate cardinal economical data, starting with the U.S. Department of Commerce's release of gross-domestic merchandise (GDP) numbers connected Thursday, which was described arsenic a "proof of concept" for doing much of this successful the future.
"We are making America’s economical information immutable and globally accessible similar ne'er before, cementing our relation arsenic the blockchain superior of the world," said Secretary of Commerce Howard Lutnick, successful a connection that announced the caller attack to spinning retired authorities data.
In a deliberate effort not to prime blockchain favorites, the section enactment retired Thursday's information via Bitcoin, Ethereum, Solana, TRON, Stellar, Avalanche, Arbitrum One. Polygon PoS and Optimism, identifying the transaction hashes for each successful its announcement. The bureau said that it besides sent the information done Chainlink and Pyth and noted that exchanges Coinbase, Gemini and Kraken helped out.
The July GDP data, compiled by the Bureau of Economic Analysis, was posted arsenic a PDF file.
Lutnick's section credited President Donald Trump's fostering of crypto and blockchain exertion with what it described arsenic a "landmark effort."
The U.S. authorities issues a fig of economical reports connected a regular ground that person tremendous value with the fiscal markets, including the Department of Labor's jobs study and the user terms index.
According to its statement, the Commerce Department "will proceed to innovate and broaden the scope of publishing aboriginal datasets similar GDP to see the usage of different blockchains, oracles, and exchanges."
Read more: Chainlink and Pyth Selected to Deliver U.S. Economic Data connected Blockchain
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