The US Department of Commerce published July GDP statistics across nine blockchains. The experiment is positioned as a step toward decentralized delivery of official data.
Economic Statistics on Blockchain
For the first time in history, the US Department of Commerce distributed macroeconomic reporting through blockchain networks. Gross Domestic Product (GDP) data for July was released on August 15 in the form of a PDF file attached to transactions across nine public blockchains: Bitcoin, Ethereum, Solana, TRON, Stellar, Avalanche, Arbitrum One, Polygon PoS, and Optimism.
Oracles Chainlink and Pyth Network were also used, with validation support provided by exchanges Coinbase, Gemini, and Kraken.
The department called this a Proof-of-Concept publication and emphasized that the format will be further developed to include new networks and distribution sources.
Government Comment and Political Support
Commerce Secretary Howard Lutnick stated that the US is “making economic truth immutable and globally accessible like never before,” underscoring the country’s role as the “capital of blockchain.”
The announcement noted that this initiative was carried out with the support of President Donald Trump, who has pushed forward the development of crypto technologies.
The department added that blockchain channels will also be used for other major macroeconomic releases, such as employment reports and consumer price indexes.
PYTH Growth on the News
The PYTH token from the oracle of the same name surged in price after news of its use in publishing official data. According to Coinmarketcap, at the time of writing PYTH was trading at $0.2225, showing nearly a 90% daily gain.
